Over the past few days, there has been a noticeable recovery in the cryptocurrency market. Bitcoin, after facing some turbulence, has rebounded from $55,000 to $69,000. This recovery has also caused significant volatility in the altcoin market, particularly with altcoins like Zeebu reaching new all-time highs and gaining attention.
Despite the market’s volatility, the native token of the Zeebu ecosystem, ZBU, has shown resilience and achieved new peaks this month. While it did experience a retracement of about 7%, it was not as severe as the declines seen in other altcoins. Currently, ZBU is showing signs of bouncing back, indicating that it may be entering the next bullish phase.
The overall cryptocurrency market seems to be preparing for another bull run, as volatility appears to be subsiding based on trading volumes. This presents a potential opportunity for investors to accumulate altcoins like ZBU, which have the potential to offer substantial returns. But why should investors focus on Zeebu (ZBU)?
Zeebu is a groundbreaking Web3 settlement platform specifically designed for the telecom industry. It addresses common challenges faced by the industry, such as lengthy remittance periods, security issues, high transaction fees, and a lack of traceability.
What sets Zeebu apart is its innovative incentive programs. It offers quick settlements, low transaction costs, transparency, and traceability through the use of blockchain technology and smart contracts. Additionally, after each successful transaction or settlement, Zeebu provides loyalty rewards, benefiting telecom carriers and operators globally.
Since its inception, the ZBU token has shown impressive growth. Starting with an initial price of under $1, it has provided investors with over 500% returns, reaching an all-time high of $5.18 this month. As a result, ZBU has secured a rank within the top 205 cryptocurrencies on CoinMarketCap, with a market capitalization of $1.6 billion.
Zeebu’s strong platform foundation has been the driving force behind its rapid growth. The platform recently reached a $3.3 billion settlement volume and announced the Zeebu Protocol waitlist, offering users early access to the ecosystem and protocol rewards. This development could act as a catalyst for an upward trend in ZBU’s value amidst a bullish market environment.
Analyzing the performance of the ZBU token, we can see that it has been maintaining support around the 200-simple moving average on the 4-hour price chart, indicating strong bullish activity. Currently, ZBU is trading at $4.93, showing a 1% increase in the last 24 hours.
Buyers have identified key accumulation zones at $4.4 and $4.0, which serve as significant support levels. On the other hand, ZBU faces an immediate resistance level at $5.17. If bulls can break through this resistance, ZBU could potentially rally to $7.5 in the coming weeks, with a possible target of reaching the conceptual round level of $10 in 2024.
Examining the price action of ZBU since its launch, we can observe a pattern of higher highs and higher lows. This consistent uptrend has encouraged investors to buy during both major and minor dips for long-term gains. During a recent retracement phase, ZBU once again formed a higher low, indicating readiness for the next upward move.
On the daily price chart, the Fibonacci retracement levels show demand zones for both short-term and long-term investments. Currently, ZBU is attempting to surpass the 20-day moving average while staying above other crucial SMAs, such as the 50, 100, and 200-day averages.
The daily Relative Strength Index (RSI) also indicates bullish momentum, remaining above the mid-line. This adds another layer of confidence in the ongoing bullish trend for the ZBU token.
In conclusion, Zeebu’s ZBU token demonstrates strong bullish signals, supported by solid fundamentals and a promising market outlook. The recent retracement presents a buying opportunity for investors interested in capitalizing on the potential of this Web3 settlement platform. With a growing user base and increasing settlement volume, Zeebu is well-positioned for continued growth. While the cryptocurrency market remains volatile, ZBU’s resilience and upward trajectory make it an intriguing investment prospect.
