FIRO price has surged nearly 60% in the past 24 hours and is currently up over 300% in the past month. This move also outpaces Zcash, one of the most powerful privacy coins this cycle. FIRO, formerly known as Zcoin, is clearly riding a new wave of momentum in the privacy coin space.
The key question now is whether there is still fuel left in this bull market and whether FIRO can realistically revisit the above $10 zone.
sponsored
Flag breakout sets the tone for FIRO’s rally
FIRO recently broke out of a flag pattern, a classic bullish continuation structure that forms when price pauses after a sharp rise.
The pole formed between October 31st and November 10th, followed by a tight consolidation from November 10th to 15th. Then FIRO broke out on November 15th, completing the pattern.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Based on the Paul forecast, the technical target sits around $8.49, assuming the broader market environment remains supportive. FIRO has a realistic shot of reaching this expansion as privacy coins capture strong flows across the board.
sponsored
Huge capital flows and bull bear power add strength to this move
This breakout has strong support from volume-based indicators. FIRO Chaikin Money Flow (CMF) —
It measures volume-weighted buy-versus-sell pressure and has been rising throughout the consolidation. CMF has remained stable despite firm FIRO prices, indicating that large wallets have been quietly accumulating during the decline.
A breakout of the CMF uptrend line is still pending. A clean break above the CMF trendline would confirm a new wave of inflows and support the next leg of FIRO towards its expected target. However, until a CMF breakout occurs, FIRO’s price trend will remain prone to rebound.
The bull bear power indicator also confirms the strength. This indicator measures the gap between buying and selling pressure. On FIRO’s chart, bullbear power has surged to a higher bullish level than seen during the original pole, demonstrating the power behind this breakout.
sponsored
Both indicators support the idea that there may be further room for FIRO price appreciation.
The next important FIRO price level
FIRO prices currently face two major hurdles.
Initial resistance is located at $6.01. A daily close above this level strengthens the momentum case. The next major resistance level is $8.18, just below the polar-derived target.
Above both levels, the $8.49 forecast holds.
If FIRO clears $8.49 (polar projection), the next psychological and technical target will be $10.35, indicating a return to the double-digit zone.
On the downside, the structure weakens below $3.00, and completely collapses below $2.49. These are the current rally invalidation levels. That could only happen if the decline in FIRO prices goes deeper, leading to large capital outflows, and does not break out of the trend line mentioned earlier.
