The world of digital currencies is in a state of flux, driven mainly by the unpredictable nature of Bitcoin (BTC). Investors are eagerly waiting for Bitcoin to surpass its all-time high of $73,750, but for now, it is stuck in a range between $65,000 and $72,000.
This volatility has led to speculation among traders and investors about whether other cryptocurrencies, known as altcoins, will experience a surge and reach new highs before the end of the second quarter. Despite this uncertainty, efforts are being made to keep the crypto market stable at higher levels, potentially paving the way for altcoins like Zeebu to make significant gains in the near future.
At present, Zeebu’s ZBU token is trading at $4.72 with little change in the last 24 hours. The token seems to be in a consolidation phase, with a trading volume of $30.5 million and a market capitalization of $1.55 billion, according to CoinMarketCap.
While major cryptocurrencies struggle to maintain their recent gains, Zeebu (ZBU) appears to be showing signs of a bullish trend on the horizon. Here are two bullish signals that could push ZBU to new heights.
The analysis of ZBU’s daily price chart reveals key support and resistance levels. The all-time high of $4.89 is a significant hurdle, while the $4.0 range acts as a crucial support zone. Despite a slight loss of momentum, there are indications that the upward trend may continue, with buyers keeping the price in a positive range.
By using a trend-based Fibonacci extension, potential upward targets for ZBU have been identified at $5.3, $5.6, and $6.0, supported by a pattern of higher highs and higher lows. Additionally, the Moving Average Convergence Divergence (MACD) indicator has turned positive, suggesting a possible bullish rally in the near future.
Investors are hopeful as ZBU has recently retested the 100-day moving average, a key buying zone. The price has also moved above the 50-day and 20-day simple moving averages, setting the stage for a potential uptrend. The Relative Strength Index (RSI) is currently at a promising level of 60, indicating the potential for further price gains.
Beyond the technical analysis, Zeebu’s growth story is impressive. Unlike many other tokens reliant on social media buzz, Zeebu has gained investors’ trust through solid performance. The platform has processed over $2.5 billion in transactions and has attracted 483 telecom users for its B2B settlement platform, processing over 43,970 invoices.
In conclusion, Zeebu’s (ZBU) token has emerged from a retracement phase and is now on the path to a potential bullish trend. With a strong foundation and positive technical indicators, ZBU is well-positioned for new price discoveries in the market.