Since falling to a low of $0.0019, Zebec Network has shown relative bullish strength. The altcoin not only reclaimed $0.002 and moved above it, but also climbed to a local high of $0.0024.
As of this writing, Zebec Network was trading around $0.0023, up 13.19% on the daily charts.
Why is Zebec Network rallying now?
AMBCrypto noted two major factors driving Zebec’s short-term pump. Firstly, Zebec saw speculative demand after announcing the introduction of an FC Bayern Munich-branded jersey.
The project noted that the merchandise is custom-made and limited edition. These jerseys target football fans across the crypto community.
The introduction renewed attention on the project, with some traders, such as Entitled Trader, noting it as a major reason behind today’s pump.
Secondly, Zebec Network is also gaining traction with its payroll infrastructure. The network noted that payroll on Stellar is becoming an entry point for enterprise stablecoin adoption.
Zebec is eyeing expansion into cross-border payments, remittances, and on-chain treasury services. If actualized, this would be a major boost for Zebec and so far seems to be attracting demand for ZBCN.
Buyers are aggressively stepping up
With Zebec Network capturing market attention, buyers stepped in across the market.
On the perpetuals side, for example, the altcoin’s buy volume rose to 85.9 million on Bybit. At the same time, sales volume dropped to 78 million.
On the exchange, the altcoin saw a positive Delta of 7 million, with net buying of 2 million. A positive Delta suggested that more buying activity occurred than selling activity.
On the spot side, demand has remained strong over the past four days, with the altcoin recording a positive buy/sell Delta. Over the past day, for example, the altcoin saw over 84 million in spot buy volume.
Taken together, these metrics suggest strong demand for the asset. If sustained, this demand could boost the altcoin’s price action considerably.
Can the momentum hold?
Zebec Network is seeing strong bullish pressure, and momentum indicators support this outlook. For instance, the Relative Strength Index (RSI) formed a bullish crossover and rose to 56, moving into the bullish zone.
At the same time, the Stochastic Momentum Index (SMI) also formed a bullish crossover and climbed to -30, further supporting the potential trend reversal.
Combined, these two indicators suggest that buyers are gaining control of the market. The SMI moving out of the negative zone would provide further evidence of strengthening bullish momentum.
Therefore, if market sentiment remains favorable, Zebec Network could reclaim $0.0025 and target the $0.0029 resistance level.
However, if the rally is driven mainly by speculation and that interest fades just as quickly, ZBCN could revisit $0.0020.
Final Summary
- Zebec Network surged 13%, rebounding from $0.0019. cleared key resistance and rose to $0.0024.
- Zebec rallied, driven by growing speculative demand, amid expanding reach to football fans and growing traction for payroll infrastructure.
