Ah, dear reader! The Zebec Network, that whimsical creature of the crypto realm, seems to be preparing for a grand reversal! After breaking free from its bearish shackles, the price action now dances in tune with the latest developments, as if it were a well-rehearsed play! 🎭
Our protagonist, Zebec Network (ZBCN), has recently burst forth from a descending wedge pattern on the 4-hour chart, much like a hero escaping from a villain’s lair. It briefly flirted with the $0.0052 mark before encountering resistance, retreating to $0.0044 to retest its breakout level. Fear not, for it now clings to a vital long-term support, formed by the upper trendline that has been ascending since early May, like a determined climber scaling a steep hill! 🏔️
As for the immediate resistance, it lurks near the recent high of $0.0050–0.0052, while the support is now nestled around $0.0043–0.0044, perfectly aligned with both the 20 EMA and the wedge’s upper boundary, which now plays the role of a supportive friend. How delightful! 🤗
On the technical stage, the price is currently testing the 20-period EMA as support, like a tightrope walker balancing precariously. The RSI, having pulled back from its overzealous heights, now hovers around 50, suggesting a neutral momentum that could swing either way. Will it stay above 50 and lead us to glory? Or will it falter? The suspense is palpable! 🎢
In summary, our dear ZBCN is in a cooling-off phase after a bullish breakout from a descending wedge pattern, often seen as a reversal setup. If it can maintain its position above the EMA and the long-term ascending trendline, we may very well see it soar towards $0.0052 and beyond! But beware, a slip below $0.0043 could spell doom for our bullish dreams and lead to a deeper retracement. 😱
Moreover, this latest breakout coincides with Zebec Network’s announcement to reward Ripple (XRP) holders with over $50K in ZBCN holdings on Uphold! A generous gesture, indeed! While whispers of a collaboration with Ripple have circulated, no formal announcement has graced our ears. How tantalizing! 🥳
This move follows a series of strategic acquisitions, including Gatenox, a digital identity firm, and Science Card, a U.K.-based fintech boasting over 50,000 users. With Gatenox in its arsenal, Zebec Network aims to bolster its regulatory standing under the EU’s MiCA framework and the UK’s FCA. A clever strategy, wouldn’t you agree? 🧐
After retracing nearly 50% from its May peak at $0.0073, Zebec Network now appears to be catching up with these fundamentals — provided the current breakout confirms a true reversal. Let us watch with bated breath! 🎉
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2025-06-17 10:37