In recent days, the cryptocurrency market has seen a potential recovery, with Bitcoin rebounding from $55,000 to $69,000 after facing market turbulence. This recovery has also sparked high volatility in the altcoin market, where promising new altcoins like Zeebu have hit new all-time highs, drawing significant attention.
The native token of the Zeebu ecosystem, ZBU, demonstrated resilience by achieving new peaks despite the market’s volatility this month. Though the token experienced a retracement of about 7%, it wasn’t as severe as the declines seen in other altcoins. Now, ZBU is showing signs of bouncing back, suggesting it may be gearing up for the next bullish phase.
The overall cryptocurrency market appears to be preparing for another bull run, with volatility seeming to subside based on trading volumes. This situation presents a potential opportunity for investors to accumulate altcoins like ZBU, which could offer substantial returns. But why focus on Zeebu (ZBU)?
- Zeebu — A Groundbreaking Web3 Settlement Platform for the Telecom Industry: Zeebu has emerged as a unique Web3 payment and invoice settlement platform specifically designed for the telecom sector. It addresses common industry challenges such as lengthy remittance periods, security issues, high transaction fees, and a lack of traceability.
- Innovative Incentive Programs: Zeebu distinguishes itself by offering quick settlements, low transaction costs, transparency, and traceability through blockchain technology and smart contracts. Additionally, Zeebu provides loyalty rewards after each successful transaction or settlement, benefiting telecom carriers and operators globally.
- ZBU Token Growth: 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. Consequently, ZBU has secured a rank within the top 205 cryptocurrencies on CoinMarketCap, boasting a market capitalization of $1.6 billion.
- Solid Fundamentals: Zeebu’s strong platform foundation has driven 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.
Performance of ZBU Token: An Analysis
Source: Tradingview
On the 4-hour price chart, the ZBU token has been maintaining support around the 200-simple moving average, indicating strong bullish activity. At the time of writing, 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.
Source: Tradingview
The price action of ZBU has been characterized by a pattern of higher highs and higher lows since its launch. 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, suggesting readiness for the next upward move.
On the daily price chart, the Fibonacci retracement levels indicate demand zones for both short-term and long-term investments. ZBU is currently 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 signals bullish momentum, remaining above the mid-line. This adds another layer of confidence in the ongoing bullish trend for the ZBU token.
Conclusion
Zeebu’s ZBU token exhibits strong bullish signals, supported by solid fundamentals and a promising market outlook. The recent retracement appears to be a buying opportunity for investors looking to capitalize 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.
