Zebec Network (ZBCN) increased by 334%: A potential investment opportunity or just a temporary wave?

Zebec Network (ZBCN) has recorded an impressive growth of up to 334% over the past 30 days, rising to become one of the most prominent altcoins in the market. Although recent momentum indicators show signs of cooling down, ZBCN still maintains a stable upward trend, thanks to a solid technical platform.

Although the possibility of a short-term consolidation is feasible, ZBCN still retains the potential to continue its upward trend if it convincingly surpasses the important resistance level.

The upward trend of ZBCN remains intact

The BBTrend indicator of Zebec Network is currently at 24.1, maintaining a positive signal for 14 consecutive days, indicating that the upward momentum is continuing to be reinforced sustainably.

Just three days ago, the BBTrend indicator peaked at 53.9, reflecting a strong increase in volatility and directional strength at that time. Although the current level is much lower than the peak, it still maintains an upward trend, despite signs of slowing momentum.

! ZBCN's BBTrend on the 4-hour chart | Source: TradingViewIn fact, the fact that BBTrend remains above zero after nearly two consecutive weeks suggests that the uptrend is still steady, although buyers may be pausing after the recent strong bull run. In the past week, ZBCN has recorded an outstanding increase of more than 106%, affirming its position as one of the most impressive performing altcoins.

BBTrend, or Bollinger Bands Trend, is an indicator that measures the strength and direction of price movements through the deviation between Bollinger Bands. When BBTrend exceeds 0, it typically indicates a strong upward trend, and the higher the value, the stronger the momentum. Conversely, when the index is below 0, it often reflects a bearish sentiment and the potential for a price decrease.

With the current BBTrend of ZBCN at 24.1, this indicates that the asset remains in the bullish zone, although there is a weakening in strength compared to the beginning of the week.

If BBTrend continues to decline, this may be a sign of the exhaustion of the bullish trend or open up a consolidation phase before a strong movement appears next. Conversely, a recovery of BBTrend will confirm that bullish pressure is being rebuilt, opening up the opportunity to continue the upward momentum in the near future.

The price increase momentum of ZBC is slowing down

The Directional Movement Index (DMI) of Zebec Network indicates that the ADX is currently at 32, still showing a strong trend, although it has decreased from the peak of 57.9 recorded just three days ago.

The DMI of ZBCN on the 4-hour chart | Source: TradingView ADX, or Average Directional Index, is a tool that measures the strength of a trend regardless of whether it is upward or downward. A value above 25 indicates a strong trend, and a value above 30 indicates a very strong trend. With the current ADX at 32.1, ZBCN is still maintaining a strong trend, with significant attraction in the market.

The DMI system of ZBC also shows that the +DI ( is tracking bullish momentum) currently at 20, although it has decreased from the previous day's level of 35.8. Meanwhile, the -DI ( is tracking bearish momentum) and has now increased to 21.3, indicating that bearish pressure is rising.

If the +DI continues to stabilize or starts to rise again, this may indicate that the buyers are regaining strength, supporting the upward trend. However, if the +DI continues to decline while the ADX decreases, this could be a sign that a shift towards a consolidation phase or weakening price momentum is occurring.

The price of ZBCN aims for a breakthrough

The EMA structure of Zebec Network is currently experiencing a strong upward trend, with short-term moving averages positioned much higher than long-term moving averages. The clear distance between these EMA lines is a clear indication of strong upward momentum and continuous buying pressure from the buyers.

This setup reflects a strong bullish market, where buyers are holding tight control, further reinforcing confidence in the continuation of the upward trend in the near future.

ZBCN 4-hour price chart | Source: TràingViewIf ZBCN can break through the resistance level of 0.0069 USD, this could signal the way for a strong breakout, pushing the price up to 0.008 USD, establishing a new all-time high, and affirming the dominance of the bullish trend in the market.

However, changes in market sentiment can introduce downside risks. If the support level of 0.00537 USD is not maintained and is tested, there is a possibility that ZBC will face a deeper correction, which could pull the price down to 0.00385 USD.

In the worst-case scenario, if the downward pressure persists, the price could continue to drop to 0.00195 USD, and in the worst case, the decline could extend to 0.00147 USD.

In summary, ZBCN is maintaining a strong upward trend with an EMA structure supporting the buyers. However, overcoming key resistance levels will be the next determining factor for the ability to sustain the upward momentum.

Taylor