ZBCN price could be on the cusp of a bullish reversal after breaking the downtrend line amid growing momentum across the DePIN sector following recent regulatory clarity.
summary
- ZBCN price broke above the downtrend line and confirmed a double bottom near $0.0035, anticipating a measured move target of $0.0057 to $0.0060.
- The price is currently consolidating around $0.0048, with major support at $0.0046 and deeper support at $0.0041 to maintain the bullish structure.
- The renewed strength in the DePIN sector, following SEC clarity, combined with Zebec’s growing partnership network, adds essential back-end strength to the technical setup.
Technical analysis of ZBCN price
Zibek network (ZBCN) The price recently broke above the downtrend line that has been limiting price action since early August. The breakout also came after the token formed a clear double bottom around the $0.0035 level, a structure associated with bullish reversals. With the neckline at around $0.0046, the measured movement target for this pattern is heading towards the $0.0057-$0.0060 area, which is closely aligned with the early August highs.
However, after reaching the local peak at $0.0051 yesterday, Zibek network The price is now falling, currently trading at $0.0048. The potential area for a correction would be towards the neckline area around $0.0046, which has now flipped into potential support.
If the selling pressure deepens, the next key area to watch is around $0.0041, which coincides with the 20 SMA and 0.618 Fibonacci. Staying above this area would keep the bullish reversal structure intact. Only a drop below $0.0035 would invalidate the double bottom and signal a return to the previous downtrend.
What drives the price of ZBCN?
In addition to bullish technicals, Zebec Network also benefits from strengthening fundamentals related to its position in the decentralized physical infrastructure networking sector. The coin’s recent rise has coincided with renewed interest across the entire DePIN category after the US Securities and Exchange Commission issued a ruling “No action” letter. In early October, clarify this DePIN codes Such as ZBCN are not considered securities.
In addition, Zebec continues to expand its ecosystem through strategic partnerships. The latest is the project cooperated with Payro Finance to integrate on-demand payroll lending, and before that, announced a collaboration with TurnkeyHQ to provide embedded wallet infrastructure for integration with major payroll systems in the US.
