Crypto Market Approaches $2 Trillion: Is it Time to Invest in Zeebu Token?
The global cryptocurrency market is grabbing headlines once again, signalling a resurgence in interest worldwide. After a prolonged consolidation phase, the overall global crypto market cap has soared to $1.94 trillion, a level unseen in the past 20 months.
At the forefront of this surge is Bitcoin, acting as a catalyst not only for leading cryptocurrencies but also for the flourishing altcoin market this week. Amidst this ongoing rally, Zeebu, with its innovative B2B payment and settlement platform, has recently reached a new all-time high after experiencing significant gains over the past few months.
Following its recent peak at $3.59, $ZBU, the native cryptocurrency of the #Zeebu on-chain settlement platform, is experiencing a slight retracement phase. A seasoned trader understands that a market's dynamic involves both upward surges and downward corrections, a key characteristic that distinguishes genuine potential from manipulative tactics.
The ZBU loyalty token is currently witnessing a temporary reversal in prices, presenting an opportunity for traders and investors to capitalize on its ongoing rally before the token resumes its bullish trajectory. Presently, the loyalty token is hovering around the $3.21 mark, comfortably above the next significant level of $3.0.
Source: Tradingview
Upon scrutinizing the 4-hour price chart, traders can observe the formation of higher-highs and higher-lows, indicating the presence of an ascending parallel channel. This channel serves as a clear indicator of a continued bullish rally, with projections suggesting a potential climb to $10 later this year based on historical price analysis.
Upon chart analysis, it is evident that a trading range has formed between the all-time high of $3.59 and the immediate crucial support level of $3.0, potentially indicating an accumulation phase for this week. However, with bulls adhering to a buying-on-dip strategy, a swift rebound is anticipated in the near future, potentially catapulting the $ZBU token to new heights.
Source: Tradingview
Chart analysis from Tradingview indicates that the 20-day simple moving average (black) has consistently served as a demand zone, contributing to price rebounds over recent weeks. Presently, the bulls are once again asserting dominance around the 20-SMA, signalling a potential bounce back in the week ahead. Additionally, the 50-SMA appears to act as a stronghold for bulls from the long-term perspective.
Investors remain unfazed by the retracement phase, opting to accumulate the token as the Relative Strength Index (RSI) rebounds from the 50 mark, paving the way for bullish momentum ahead. With past RSI performance suggesting a potential surge into higher territory on the daily price chart, optimism prevails.
Moreover, technical indicators paint a positive outlook for #Zeebu's ZBU token, while favorable crypto market conditions further bolster the case for a bullish rally. Beyond price performance, investors are impressed by the B2B platform's tangible achievements, with over 800 million in transaction volume facilitated to date.
In the ever-changing landscape of the crypto market, investors are basking in the current bullish momentum sweeping across the entire industry. With the opportunity to accumulate the Zeebu (ZBU) loyalty token during its rebounding phase, buyers are poised to ride the wave of potential gains. As anticipation mounts for ZBU to soar to new all-time highs, $4.0 stands out as the immediate next bullish milestone for this month.
Support Levels: $3.0 and $1.5
Resistance levels: $3.59 and $4.0
Also read - Zeebu Token Records a 25% Surge in Jan: What's for Feb?
