• Zebec Network expanded to the UK to offer prepaid cards and support students. 
• Its native token, ZBCN, has exploded 10x since April and surged nearly 400% in May. 

Zebec Network [ZBCN], a multi-chain DeFi protocol advancing payments and stablecoin-based payroll, has mooned 10x in Q2.

Its native token, ZBCN, logged an extra 14% on the 29th of May, after acquiring Science Card, to offer prepaid cards to UK students. 

In the past 30 trading days, the token has surged 395% and over 900% (10x) since April. Will the winning streak continue? 

On the charts, key indicators showed strong demand (RSI) and a more volatile market (high Average True Value, ATR, red). The asset gained over 70% this week alone, and may climb higher if the demand remains strong. 

However, RSI was in the oversold territory, and a correction could not be overruled. If so, a dip to $0.005 (white zone) or the 0.5 Fib retracement level ($0.004) could offer new buying opportunities.

In such a scenario, the token could re-target $0.007 or extend to the next Fib level of $0.001. The latter could offer an extra 55% if hit. 

However, the bullish thesis would be invalidated if the price drops below the 0.5 Fib level and the EMA (Exponential Moving Average) bands. 

Another risk factor for the token’s explosive run was massive leverage. In the past three days, ZBCN rallied +60%, but spot market demand declined as shown by spot CVD (Cumulative Volume Delta).

On the contrary, leverage, as illustrated by the spike in Open Interest (OI), increased 113%, suggesting an unsustainable uptrend if spot market demand doesn’t recover. 

Worth pointing out, however, that there was little overhead liquidity pool beyond $0.008. But below the price action, there was a massive liquidation pool of leveraged longs around $0.004 (orange zones). 

In case of a liquidity-driven correction, the level could act as a price magnet. Interestingly, the area of interest aligned with the 0.5 Fib level highlighted on the price charts.

This meant that the area could be a great buying opportunity during a pullback.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion