Zeebu, the Web3 payment platform designed for the telecom sector, has defied broader market trends in its price action since breaking past the $1.0 barrier in October 2023. After achieving this significant milestone, ZBU, the native cryptocurrency of the Zeebu ecosystem, has steadily climbed, delivering impressive returns over the past few months.
In a highly volatile crypto market, where top cryptocurrencies have experienced significant price drops, ZBU token is riding bullish waves. With a recent price recovery from the accumulation zone and the potential to hit new all-time highs, altcoin is poised for a bullish run in the third quarter of 2024.
Currently, the ZBU token is trading at $4.82, exhibiting slightly sideways movement after reaching a new all-time high of $4.98. This achievement comes amid market turbulence, where leading cryptocurrencies like Bitcoin, Ethereum, and BNB have faced notable declines. ZBU’s strong sustainability above the $4.0 level highlights its resilience in the face of market challenges.
ZBU Token’s Consolidation Phase: A Bullish Opportunity for 2024
Source: Tradingview
On the 4-hour price chart, ZBU token is experiencing a consolidation phase near its all-time high levels. This phase could be a precursor to the next bull run, echoing past price patterns in ZBU. This scenario presents a promising opportunity for both new and seasoned investors in the expected 2024 bull run.
Currently trading at $4.82, ZBU is positioned within the green zone of the Supertrend indicator. This zone could act as a demand area for bulls, potentially pushing ZBU to break its all-time high and continue its upward momentum.
The hourly RSI is below the mid-line (50 level), but with an anticipated bounce-back from the bottom of the Supertrend indicator, buyers may find an ideal moment to capitalize on a forthcoming price surge.
Zeebu Price Prediction for 2024
Source: Tradingview
Zeebu has demonstrated significant potential as a crypto gem since its trading debut, with initial investors reaping over 500% returns.
Since May, bulls have successfully kept the ZBU token price above the $4.0 to $4.2 range, establishing this zone as a demand area during any retracement phases. On the upside, the $5.0 mark has been a key resistance level where ZBU often faced rejection. However, bulls now seem aggressive, pushing the ZBU token towards new all-time highs despite market turbulence.
The key technical indicator, Bollinger Bands (BB), shows high sustainability in the price. The lower band of the BB indicator acts as immediate support, and currently, ZBU is stable at the middle-range (20-day moving average), suggesting the potential for another high soon.
In the context of bullish technical indicators, the daily RSI has reversed from the 50-mark despite slight retracement in ZBU’s price, indicating the token’s potential.
Additionally, the MACD indicator is in the positive region with green histograms, reinforcing the bullish outlook.
Conclusion
With Zeebu (ZBU) gaining bullish momentum above the mid-line of the Bollinger Bands indicator, savvy traders are eagerly anticipating a breakout rally that could push the token past its all-time high. As the altcoin targets the upper band of the BB indicator at $5, the excitement builds for what lies ahead.
Considering the previous price patterns that showed significant rallies following accumulation phases, ZBU is poised for impressive gains. The token could potentially soar to a peak of $7.0 and even approach the enticing round level of $10. This makes Zeebu an attractive opportunity for investors looking to ride the next wave of growth.
The post Zeebu (ZBU) Price Prediction: SMA Breakout Hints Massive Bull Run to $10 appeared first on Crypto News Land.
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