Deep Dive
1. Technical Resistance (Bearish Impact)
Overview: ZRC’s price ($0.0256) sits below its 7-day SMA ($0.0264) and 30-day SMA ($0.0266), with the pivot point at $0.0265 acting as immediate resistance. The RSI (48.39) shows neutral momentum but leans bearish below the 50 threshold.
What this means: Repeated failure to breach the $0.0265 resistance suggests weakening demand. The MACD histogram, though positive (+0.000246), shows the MACD line (-0.000592) lagging below the signal line (-0.000838), indicating fading bullish momentum.
What to look out for: A sustained break above $0.0265 could reverse sentiment, while a drop below the 23.6% Fibonacci retracement ($0.0255) may accelerate selling.
2. Post-Rally Profit-Taking (Mixed Impact)
Overview: ZRC surged 165% from its June 27 low ($0.01948) to a July 25 peak ($0.052), driven by Binance Futures listings (CoinJournal) and its AI trading engine launch.
What this means: Short-term traders likely locked in gains after the rally, exacerbated by reduced trading volume (-13.84% in 24h). The 30-day price change (-9.7%) aligns with this consolidation phase.
3. Mainnet Upgrade Anticipation (Neutral/Bearish Impact)
Overview: Zircuit’s testnet successfully forked to zkVM provers on August 11, with the mainnet upgrade set for August 25 (Zircuit tweet).
What this means: While upgrades can boost long-term utility, short-term holders often sell ahead of network changes due to execution risks or temporary withdrawal halts (e.g., Bithumb’s August 5 suspension).
Conclusion
ZRC’s dip reflects a mix of technical resistance, profit-taking after July’s rally, and cautious sentiment ahead of its zkVM mainnet upgrade. The token remains 3.23% up over 90 days, suggesting underlying strength if the upgrade delivers scalability improvements.
Key watch: Can ZRC hold the $0.025 support zone, and will the mainnet upgrade on August 25 catalyze renewed demand?