Recent price actions of Zebec Network highlight strong demand at key support levels, reinforcing bullish sentiment for the asset across higher timeframes.
Strong High-Timeframe Support
Zebec Network has respected a key support level based on the 0.618 Fibonacci, point of control, and value area low, leading to a powerful bounce. This level has proven resilient, confirming strong underlying demand for the asset and indicating possibilities for further upside.
Structural Integrity and Bullish Momentum
Zebec Network maintains a bullish structure with consecutive higher highs and higher lows on the daily chart. Each upward move has been associated with shallow pullbacks, indicating strong market appetite to absorb selling pressure. Daily closes have consistently remained above previous lows even during red candles, highlighting sustained bullish momentum.
Future Price Action Prospects
Attention must be given to the value area high. A reclaim of this area could catalyze an accelerated move towards previous highs. Historical behavior of Zebec Network shows a tendency to follow such breakouts with sharp price movements, which may lead to a repeat scenario.
As long as Zebec Network continues to defend its high-timeframe levels, the bullish case remains intact. Close attention to the value area high could trigger a powerful rally towards previous highs.
