Zebec Network (ZBCN) price shows signs of possible reversal following a breakout from a descending pattern. Analyzing current conditions and future prospects.
Current Technical Situation
Recently, Zebec Network's price broke out of a descending pattern on the 4-hour chart. After the breakout, it briefly wicked to $0.0052 but faced resistance and pulled back to $0.0044, retesting the breakout level. The price is currently holding above a key long-term support formed by the upper trendline ascending from early May.
Immediate resistance lies near the recent high around $0.0050–0.0052, while immediate support is now near the $0.0043–0.0044 level, aligned with both the 20 EMA and the wedge’s upper boundary, which may now act as support.
Fundamental Changes and Strategic Acquisitions
The recent breakout coincided with Zebec Network’s announcement that it will reward Ripple (XRP) holders with over $50K in holdings on Uphold using ZBCN. Earlier speculation hinted at a possible collaboration with Ripple, but no formal announcement has been made.
This move follows a series of strategic acquisitions, including Gatenox, a digital identity firm, and Science Card, a U.K.-based fintech with over 50,000 users. The acquisition of Gatenox aims to strengthen Zebec Network’s regulatory positioning under the EU’s MiCA framework and with the UK’s FCA.
Price Movement Prospects
In conclusion, ZBCN price is currently in a cooling-off phase after a bullish breakout from a descending wedge pattern, often seen as a reversal setup. If the price holds above the EMA and the long-term ascending trendline, continuation towards $0.0052 and beyond is possible. A break below $0.0043 could invalidate the bullish structure and lead to deeper retracement.
Zebec Network continues to show dynamic movements amidst critical changes on both technical and fundamental levels. Monitoring price movements and successful maintenance of key levels will be crucial in assessing further growth directions.
