Bitcoin’s recent halving event, one of the most anticipated moments in the cryptocurrency world, has come and gone, leaving the market in a state of correction. Over the past couple of months, the journey for crypto investors has been nothing short of a rollercoaster ride, marked by Bitcoin’s intense swings between $60,000 and $74,000, as bulls and bears wage war for dominance in the market. While analysts and crypto enthusiasts are optimistic that this halving will kick off the next bull run.
This fluctuation in Bitcoin’s price has had a ripple effect across the entire cryptocurrency market. In response, some investors are exploring emerging cryptocurrencies like Zeebu, aiming to capitalize on this volatility and potentially secure higher returns in 2024.
Zeebu is an innovative DeFi platform built to address the payment and settlement issues within the telecom industry. By bridging the traditional financial system with decentralized finance, Zeebu has spearheaded a revolution in telco finance. Its platform’s performance and the remarkable growth of its native cryptocurrency have made Zeebu a topic of widespread discussion.
The native cryptocurrency of the Zeebu ecosystem, ZBU, has caught the attention of Bitcoin investors by delivering returns exceeding 500% in just a few months. Moreover, the bullish momentum shows no signs of abating, with the ZBU token consolidating within a narrow range, poised for further upward movement. A thorough analysis of historical price action suggests that a breakthrough above its previous all-time high of $4.98 could propel the altcoin toward the significant psychological threshold of $10.
Investors often witness a notable increase in price following the listing of tokens on well-established exchanges. Recently, ZBU token reached a significant milestone with its listing on a renowned cryptocurrency exchange, CoinDCX, on April 24th. This important development is anticipated to propel the price of ZBU token upwards in the near future.
Before delving into the technical intricacies of the ZBU token, it is essential to shed light on the tangible achievements of the Zeebu B2B invoice settlement platform.
Zeebu has effectively addressed major challenges faced by telecom carriers and operators, such as lengthy remittance delays in settlements and transactions. Leveraging blockchain technology has enhanced the security, transparency, and traceability of transactions, while also facilitating automated transactions on a global scale.
With over 430 global users onboarded onto the Zeebu platform, it has emerged as a prominent player in the industry. Since its inception, Zeebu has achieved several milestones, including the successful settlement of over 23,168 invoices and transaction volume exceeding $1.66 billion.
ZBU Token’s Tight Consolidation: A Positive Outlook for Bullish Momentum?
Currently, the ZBU token is maintaining a tight range, hovering around the $4.77 mark with a slight 0.5% increase overnight. With this sideways movement, the trading volume appears neutral, settling at $44.5 million. As per CoinMarketCap data, the market capitalization of ZBU stands at $1.57 billion.
Source: Tradingview
Examining the daily price chart reveals that ZBU has been consolidating within a narrow horizontal band between $4.7 and $4.9 for the past few days. This stability amidst the volatility of the crypto market suggests a strengthening of its foundation for potential future milestones.
ZBU’s recent listing on the CoinDCX exchange holds promise for a positive effect on the token. If ZBU surpasses its previous all-time high of $4.9, investors may foresee a notable milestone at the $5 mark, potentially signaling a path towards $7 in the upcoming month. Furthermore, if the upward trend persists, ZBU could even approach the coveted $10 milestone by the conclusion of the second quarter.
Although the consolidation phase has caused ZBU to dip below the 20-day simple moving average, this is not necessarily a cause for concern. Moreover, critical SMAs such as the 50 and 100 remain positioned below the current price of ZBU, serving as significant demand zones.
Source: Tradingview
Looking at the weekly price chart, there’s a notable potential for the next bullish surge. Key technical indicators such as the RSI and MACD are signaling a shift away from the consolidation phase.
The daily RSI is rebounding from the 60 mark, once again heading towards the buying zone. Currently, the RSI is peaking at the 63 level, signaling bullish momentum for the ZBU token. Additionally, the MACD remains in positive territory, with the histogram showing higher lows, indicating a strengthening bullish trend.
Conclusion
Despite the inherent volatility of the crypto market, Zeebu’s ZBU token has managed to sustain its position close to its all-time high. The recent listing of the ZBU token on the CoinDCX exchange, occurring amidst a consolidation phase, could act as a driving force in propelling ZBU towards the $7 mark and ultimately to the significant milestone of $10.
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