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The Zircuit price has surged 12% in the last 24 hours to trade at $0.07607 as of 11:29 a.m. EST on a 62% rise in trading volume to $54.7 million.
Zircuit Price Aims For A Breakout
The ZRC price analysis on the 4-hour chart indicates a recent bullish breakout following an extended period of sideways consolidation.
For the past few weeks, the Zircuit price has been trading within a defined range, with $0.069 to $0.071 acting as a support zone and $0.078 acting as the resistance zone.
The price of ZRC has now decisively broken through the upper resistance at $0.076, indicating strong buying momentum, according to data from GeckoTerminal.
ZRC has now crossed above both the 50-day and 200-day Simple Moving Averages (SMAs) at $0.06950 and $0.07329, respectively, now acting as the immediate support levels.
The Relative Strength Index (RSI) is at 69.19, approaching the overbought territory (above 70).
This suggests that the recent rally has generated strong buying pressure, but it also warns of a possible pullback or consolidation in the short term as the RSI nears overbought conditions.
ZRC Is Bullish
The recent breakout above $0.076 suggests that bullish momentum is gaining traction, and the Zircuit price could test higher resistance levels in the coming sessions.
However, overbought RSI levels and the possibility of short-term profit-taking may lead to a temporary consolidation or pullback before further upside.
The first resistance to watch is at $0.080, followed by $0.085, which corresponds to the previous highs in December. If ZRC maintains momentum and consolidates above $0.075, it is likely to target these levels in the near term.
Immediate support lies at the breakout zone of $0.075-$0.076. If this level fails, the next support is at the 50-MA around $0.06950. A failure to hold above $0.075 could result in a retest of the $0.070 support zone, SMAs may provide additional support.
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