Zebec Network price jumps 20% following invitation to speak on regulation at UK House of Lords
Zebec Network’s price jumped 20% following the announcement that the project’s leadership will speak at the British Parliament’s House of Lords on July 10, sparking a bullish breakout attempt that could propel the price to $0.0040.
Zebec Network ( ZBCN ) price is up 20% in the past 24 hours, likely boosted by news that its leadership has been invited to speak at the British Parliament – House of Lords on July 10. Addressing an audience of MPs, regulators, legal experts, and compliance professionals at the Palace of Westminster, COO Simon Babakhani and Head of M&A Neal Padhye will discuss topics like compliance, whistleblower protections, and blockchain regulation .
The announcement dropped on July 7, propelling ZBCN price from an opening price of $0.0027243 to an intraday high of $0.0030977 on July 9, marking a 13% surge. This move brought the price right up to the upper trendline of a falling wedge formation that has been developing since late May on the 4-hour chart. The rally was supported by strong volume, lending credibility to the bullish breakout setup as price action tightens into the apex of the wedge.
ZBCN price is now pulling back slightly from the rally, currently trading at $0.0029. If the price holds above the recent higher low near $0.0024 and breaks above the wedge resistance (around $0.0031), it could confirm a breakout pattern. The first bullish target on a confirmed breakout lies at around $0.0035-$0.0040, where the price was rejected repeatedly on previous attempts in late June to early July. This area now acts as a critical supply zone and potential profit-taking region for short-term traders.
Source: TradingView
A sustained move above $0.0040 could open the door for further upside toward $0.0046–$0.0050, aligning with the previous swing highs. However, failure to break above the wedge resistance would likely keep the price compressing within the pattern. The wedge setup would be invalidated if ZBCN price falls below its lower trendline, shifting into a potential bearish continuation within a descending channel.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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