Zebec Network sees Bullish Breakout, Paving Way for Major Rally
Zebec Network (ZBCN) has experienced a notable bullish breakout after a long period of consolidation. This move suggests the potential for a substantial price increase. The technical indicators now point towards a strong upward trend.
The price of ZBCN has broken out of its previous trading range, signaling a shift in market sentiment. This breakout is supported by increased trading volume and bullish candlestick patterns. Traders are now looking at higher price targets.
- Accumulation Breakout: The price has broken out of a long-term consolidation, indicating a change in the market structure.
- Support at $0.032: This level has flipped from resistance to support, becoming a critical area for traders.
- Confluence Zone: The $0.032 level aligns with the 0.618 Fibonacci retracement and VWAP SR, creating a strong technical base.
- Fibonacci Extension Target: A projected move suggests a potential 236% gain based on the current swing high.
- volume Confirmation: Sustained volume is crucial for validating the bullish continuation.
The breakout above $0.032 is more than just a technical achievement. It represents a psychological shift in the market. The zone, previously a ceiling for price action, now acts as solid support. The 0.618 Fibonacci retracement and VWAP SR in this area confirm its importance.
Traders can use Fibonacci extensions to forecast potential upside. A 236% rally from current levels is a key target. Though,volume remains critical. Continued high volume at elevated price levels would confirm strong market conviction and support further bullish momentum.
If ZBCN maintains support above $0.032 and volume remains elevated, a move toward the Fibonacci extension target becomes increasingly likely. The continuation toward new highs will depend on sustained buyer commitment at each resistance level as the price climbs.
