ZBCN Price Surges Following Bitvavo Listing Announcement, Targeting $0.0050

ZBCN price is experiencing a recovery after bouncing back from multi-week lows, spurred by its recent listing on Bitvavo, the largest MiCA-compliant exchange in Europe. What's the next step for ZBCN?

Key Takeaways

ZBCN price has recovered from lows around $0.0028, approaching resistance levels.
The recent Bitvavo listing has provided a boost to Zebec Network.
A breakthrough above $0.0038 could lead to further gains towards $0.0050, while rejection may pull the price back to $0.0028.

zbcn price

ZBCN Price Technical Analysis

Zebec Network

Zebec Network price has shown signs of recovery after hitting a low near $0.0028. It is currently testing support along the lower trendline of a descending channel on the daily chart.

The upward movement has gained momentum as ZBCN reclaimed key moving averages, notably the 9 EMA (in cyan) and the 21 EMA (in yellow). This ascent has brought the price closer to mid-channel resistance near the 55 EMA (in green), currently positioned around $0.0038. As of now, ZBCN is trading at approximately $0.0036, only about 5% below this resistance level.

The recent recovery appears to be driven by Zebec's announcement of its listing on Bitvavo, recognized as the largest spot exchange in Europe and among the first platforms to comply with MiCA regulations.

What's Next for ZBCN Price?

Should Zebec's price close above $0.0038, it could signal a short-term bullish trend, with targets aimed at the upper boundary of the descending channel near $0.0045 to $0.0050. Conversely, if the price faces rejection in this zone, it may prompt another decline towards $0.0028, which acts as the base of a broader descending triangle formation.

The descending triangle is considered a bearish pattern; thus, a break below this support level could confirm further bearish momentum, steering ZBCN towards lower support areas around $0.0023 to $0.0020.

ZBCN price climbs on Bitvavo listing announcement with eyes on $0.0050 - 1
ZBCN price 1D chart | TradingView