Zebec Network’s token, ZBCN, is riding a wave of enthusiasm after news broke that two of the project’s top executives will speak at the British Parliament’s House of Lords on July 10. The announcement has sparked a 20% price jump in the past 24 hours, fueling hopes of a larger bullish breakout that could push the token up to $0.0040.
According to details released on July 7, Zebec’s COO Simon Babakhani and Head of M&A Neal Padhye are slated to address an audience of Members of Parliament, regulators, legal experts, and compliance professionals at the Palace of Westminster. Their discussion topics will include blockchain regulation, compliance, and whistleblower protections a significant step that puts Zebec on the radar of influential policymakers.
Price Action Heats Up
Following the announcement, ZBCN climbed from an opening price of $0.0027243 to hit an intraday high of $0.0030977 by July 9, marking a 13% spike in just two days. This rally brought the token right up against the upper trendline of a falling wedge pattern that has been forming on the 4-hour chart since late May. The surge was accompanied by strong trading volume, adding weight to the potential for a bullish breakout as the wedge pattern tightens toward its apex.
At the moment, the price has cooled slightly, with ZBCN trading around $0.0029. Still, technical analysts see a strong setup in play. If the price holds above the recent higher low of about $0.0024 and manages to break through resistance near $0.0031, it could confirm a breakout.
A confirmed breakout could send ZBCN toward its next target zone of $0.0035 to $0.0040. This range previously acted as strong resistance in late June and early July, so traders will likely watch it closely for potential profit-taking.
Higher Targets and Risks
If the bulls manage to push the price beyond $0.0040, further upside targets could extend to between $0.0046 and $0.0050, aligning with previous swing highs. However, if ZBCN fails to break above the wedge resistance, the price may continue to consolidate within the pattern.
On the downside, the bullish outlook would weaken significantly if the token slips below the lower trendline of the wedge. In that case, ZBCN could slide into a bearish continuation inside a descending channel, signaling more potential losses ahead.
