Zoom Communications Inc. (NASDAQ: ZM) is nearing a crucial technical juncture in price performance. Specifically, $ZM is facing significant price resistance around $90 while it targets a breakout to $100. As per Ali Martinez, a popular crypto analyst, if Zoom effectively surpasses the $90 resistance, it could rapidly surge to $100. In the meantime, the traders are closely watching for the ongoing momentum and its likely implications in the near future.
Zoom ($ZM) Eyes $100 Leg Up as $90 Poses Solid Resistance
Based on the on-chain data, the stock price of Zoom (NASDAQ: ZM) is facing a notable price resistance at $90. The respective resistance also provides a notable opportunity for a massive leg up. Thus, if the price surpasses this level, $100 could reportedly act as a magnet, triggering a noteworthy spike. At the moment, Zoom is just below the $90 spot while changing hands at $88.68. On the other hand, it has been witnessing a significant support at $78 and $66 throughout this year.
$90 Clearance Could Confirm $100 Breakout
According to Ali, Zoom needs to surge past the resistance at $90 to effectively jump to the $100 mark. Contrarily, a failure to do so could lead to a provisional price pullback toward the trading support level of $78. However, the market onlookers anticipate an upward trajectory amid the optimistic outlook. Keeping this in view, whether Zoom confirms its breakout to $100 or not remains to be seen in the near future.
