- Zebec Crypto maintained his bullish process on the 1-day graph, despite the failed step on Monday
- The 4-hour graph emphasized a short-term range
Zebec -Network [ZBCN] Saw an attempt at recovery on Monday, June 16. The support level of $ 0.00395 has been a strong support for a week and the Bulls used Bitcoin’s [BTC] Move up to $ 108k on Monday to try to establish an upward trend.
Source: ZBCN/USDT on TradingView
The Bitcoin reset has since seen the ZBCN bulls beat a hasty retreat. On the 1-day graph, the swing structure of Zebec Crypto was still bullish. The Fibonacci racement levels emphasized the following important support levels, namely $ 0.00395, $ 0.00318 and $ 0.00209.
The level of 50% has served as a demand zone, which encourages ZBCN bulls to buy more. And yet the influx of the question has been dramatically delayed in the past two weeks. The OBV has also been moved sideways, with the daily trade volume that after the fast rally in the south trent to $ 0.0072 at the end of May.
The CMF remained above +0.05, which shows that capital flows were for the bulls. However, it delayed dramatically in June. It had been at a peak of +0.35 earlier in the month. The Supertrend -indicator also continued to flash a buying signal.
If the volume trends do not recover, it can be difficult for Zebec Crypto to continue to act above the support level of $ 0.00395.
Zebec Crypto -range indicates potential long positions for traders
Source: ZBCN/USDT on TradingView
In the past ten days, ZBCN has traded within a range (purple) that extended from $ 0.00392 to $ 0.005. The 4-hour graph revealed a rejection on the range of the range on Monday, followed by a steady drop below the center range at $ 0.00448.
The progressive averages showed that the previous Bearish Momentum had shifted in a sideways trend after almost two weeks of reach -related price action. The OBV also showed a range. At the time of writing, it sank to last week’s low point.
This indicated an increased sales pressure for the past 24 hours. The CMF has also sunk up to -0.01, which does not show substantial capital flows in or from the ZBCN market.
In general, the range of the range must be defended. The D1 and H4 maps did not show overwhelming sales volume. If Bitcoin can stabilize its descent under $ 105k, Zebec Crypto traders can remain confidence in recovery of support from $ 0.00395.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
Credit : ambcrypto.com
