• ZBCN price rose 0.75% to $0.005094, but a 6.69% drop in volume signals reduced investor activity.
• Despite a 30.75% weekly gain, slowing volume suggests traders are cautious about the next move.
• RSI cools and MACD softens as price nears 20MA with support at $0.0045 and resistance at $0.0055.

Zebec (ZBCN) is currently trading at $0.005094 and it has increased by 0.75% in the last 24 hours. The trading volume, however, declined by 6.69% to $36.56 million. The price increase is accompanied by a decrease in activity. This discrepancy represents a mixed feeling among investors. There might be hesitation among traders following the previous gains.

Source: CoinMarketCap

ZBCN increased by 30.75% within the last week. Such a vibrant upward performance signals increased interest. However, the decline in volumes is an indication of caution. Market participants can now await new signals. Momentum is reducing, but not lost.

ZBCN Holds Range Amid Weak Momentum

Crypto analyst Gemxbt highlighted that ZBCN was in a pullback phase. The price is attempting to cross its 20-day moving average. This level could serve as reinforcement. The RSI has fallen out of the overbought range. That indicates that buyers are weakening. MACD is also declining, foreshadowing the bullish momentum.

The support lies at $0.0045 and the resistance at $0.0055. Short-term movement may be described over this range. A fall below the support may trigger a further decline. New buying might come as a result of a resistance break above. The traders closely monitor these levels.

Source: X

Also Read: Injective (INJ) Price Analysis: Key Support Holds as Traders Eye $15.37 Breakout

Derivatives Data Shows Mixed Sentiment

CoinGlass data shows that the trade volume dropped by 27.18% and reached $34.95 million. Meanwhile, open interest increased 3.31% to $13.57 million. This is an indication of the ongoing opening of new positions. Traders are still present in the market and are cautiously moving into positions.

The funding rate is at 0.0096%. There is no severe bias in this neutral rate. The sellers and buyers seem to match. Extreme leverage is not evident either way. This implies that there is the prospect of market consolidation in the short run.

Source: CoinGlass

The current success of ZBCN is evident. Yet, there are indications of a delay. The price is resisting, and volume is decreasing. Markers are becoming soft. The traders are pushed to wait until a breakout or breakdown. The principle that ZBCN is based on has not changed. The project remains a long-term subject of interest. However, short-term orientation is not clear. 

ZBCN can continue its ascent if bulls come back to rally with volumes. Otherwise, support will be put to the test. These next few days will be crucial. The next direction will be determined by how the market responds to this pullback. In the meantime, the token remains at close levels with neutral indicators.

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