The ZBCN price has been one of the top breakout stars in the crypto industry this year. Zebec Network token moved from almost nowhere and became a top performer. It was trading at $0.00538 on Wednesday, up by over 616% from its lowest level in January.
ZBCN Price Technical Analysis
The daily chart shows that the ZBCN price remained in a tight range between July last year and May. This consolidation was likely part of the formation of the accumulation phase of the Wyckoff Theory.
It then staged a strong comeback, soaring to a high of $0.007167 on May 30th as it moved to the markup phase. Zebec Network price then plunged and bottomed at $0.002290.
Most recently, the token has rebounded to $0.0053 as bulls attempt to retest the all-time high. Fortunately, the Zebec price remains above the 50-day and 100-day Exponential Moving Averages (EMA).
More indicators show that the MACD has moved above the zero line, while the Relative Strength Index (RSI) has continued rising and is nearing the overbought level.
A closer look shows that the Zebec Network price has formed an inverse head-and-shoulders-like pattern, a common bullish continuation sign.
Therefore, the token will likely continue rising as bulls target the key resistance level at $0.00716, its all-time high, which is about 35% above the current level.
The bullish ZBCN price forecast will become invalid if it moves below the key support level at $0.004065, its highest level on July 11.
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Why Zebec Network is Soaring
Zebec Network price has jumped this year, bringing its market capitalization to over $477 million. First, ZBCN price has soared because it is one of the top crypto projects with a utility.
It derives its utility from the two primary services it offers. It has a growing card business, which provides crypto-enabled cards to users worldwide. This business processes millions of dollars annually.
Zebec also runs a payment processing solution that helps over 250 companies simplify their payroll. Employees benefit by accessing their salary as they work through an easy process.
Second, the ZBCN price has jumped due to its acquisition strategy, which management hopes will boost its business. It acquired PayBridge in 2023, School Payroll Services in 2024, and most recently, Gatenox and Science Card.
Science Card brought in over 50,000 cardholders, while Gatenox provides KYC and AML solutions. As a result, it has become a major player in the European compliance industry.
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