ZBCN price can be about to be about a bullish reversal after the outbreak of a falling trend line in the midst of a growing momentum in the Depin sector after recent clarity of the regulations.
Summary
- ZBCN price broke over a falling trendline and attached a double bottom near $ 0.0035, which projected a measured Move -White of $ 0.0057 -$ 0.0060.
- The price currently consolidates around $ 0.0048, with important support for $ 0.0046 and deeper support for $ 0.0041 to maintain the bullish structure.
- Renewed strength in the Depin sector, after SEC Clarity, in addition to the growing partnership network of Zebec, a fundamental tail wind adds to the technical arrangement.
ZBCN -Price Technical Analysis
Zebec Network (ZBCN) price has recently been broken over a falling trendline that had covered its price action since the beginning of August. The breakout also came after the token formed a clear double bottom around the level of $ 0.0035, a structure associated with bullish reversations. With the neckline at around $ 0.0046, the measured Move goal from this pattern to the region projects $ 0.0057 – $ 0.0060, which closes closely at the beginning of August.
However, after reaching the local peak of $ 0.0051 yesterday, Zebec’s network price is now withdrawing and currently acts at $ 0.0048. The possible area for a retracement would be to the neckline zone around $ 0.0046, which has now been reversed in potential support.
If the sales pressure gets deeper, the next key area to view is about $ 0.0041, which coincides with the 20 SMA and the 0.618 FIB. Holding above this zone, the bullish reversing structure would still keep intact. Only one drop back below $ 0.0035 would make the double bottom invalid and suggest a return to the earlier downward trend.
What drives ZBCN price?
In addition to Bullish Technicals, Zebec Network also benefits from strengthening the basic principles that are linked to the positioning in the sector of the decentralized physical infrastructure networks. The last rally of the token coincided with renewed interest in the entire Depin category after the American Securities and Exchange Commission had issued a “no action” letter at the beginning of October, so that the Depin tokens such as ZBCN are not considered effects.
In addition, Zebec continues to expand its ecosystem through strategic partnerships. The project recently worked together with Payro Finance to integrate wage loans on-demand, and for that it announced a collaboration with Turnkeyhq to offer embedded wallet infrastructure for its integrations with large American wage substances.
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