Deepika- Zyberswap: a beginners Guide to zyberswap exchange and ZYB
- How cyberwar keeps its priority upon the security and privacy of its users.
- ZYB price is all-time low with a deep downtrend from March 2023, is the coin worth purchasing now?
What is Zyberswap? A beginners guide.
Zyberswap was launched in January 2023, it is a decentralized exchange that is currently running on the Arbitrum blockchain, It is also said that Zyberswap was one of the very first networks to incorporate an Automated Market Maker(AMM) model.
When compared to its competitor, cyberwar allows the swapping and exchange of cryptos with the lowest fees.
Governance voting is a concept that has been adapted by Zyberswap for deciding major changes in the platform which creates the involvement of users in the decision-making process.
The ZYB token has a circulating supply of 3.1 million, with a maximum supply of 20M which means a significant amount of tokens are yet to be mined!
Zyberswap is also well known to keep the security and privacy of its users on top, for this to take place in the actual scenario, It has done a rigorous audit which has helped in securing an incubation place. This enabled Zyberswap to offer new projects, a free audit, and a KYC process.
ZYB’s Previous Price Action
ZYB came into the sights of charts after its first exchange rate decreased on various platforms at the start of February 2023, The price started to grow after mid-February 2023 and reached an all-time high of $16.95 during the date of 21 February 2023.
Some correction was seen when the stock almost reached where it started, with a price value of $2.6 in match 2023. The bears faced some correction and the stock felt some more hikes of the levels around $8.35 the stock reached its last high made in the end days of March 2023. The coin since then is crashing down continuously
ZYB’s Previous Price Action
Currently, the price on the 4-hour chart is still breaking all the supports. with this behavior, there are several resistances created with strong volumes, which is making it harder for the bulls to break.
supports: support 1 which is the immediate support is being made at the level of $0.0879, The volumes managed to be a little better with this one as the bears have faced some rejections at this point.
The second support is being made at the level of $0.670, since the price is in a deep downtrend with an all-time low, this is a round-off support with no previous confirmations.
Resistances: Immediate resistance is created after the coin broke the last support of $0.1171 it is supported by volumes that can be hard for the bulls to break in the current situation.
The second resistance is at the level of $0.1844. which is also made after the support was broken, it has a wider zone, so the bulls will have to keep a check on the rejection levels.
Indicators
MACD
The MACD indicators have a different story to tell as, during the 6th of August the MACD line crossed over the signal line which gave a bullish signal, and as expected the bulls have tried to fight the bears on this indication,
Although the pricing has not risen significantly the bulls have tried their best to not let the support break. Another stuff to see would be the difference between the MACD line and the signal line which is showing the strength in the pricing is rising.
RSI
The Relative Strenght index is showing some strength after a fall, currently, the mark is at the level of 40, if the bulls can push over then the levels can rise over 50, there some consolidation will be seen.
EMAs
The 50 EMA is currently above the price and closing down at $0.0194, if the price takes a resistance from 50 EMA then it can fall even further, similarly if the price surpasses the 50 EMA line it can result in an uptrend.
The 200 EMA is at the level of $0.1586, lower than the 2nd resistance, this will also reject the bulls if the price came up till there.
Is Zyberswap worth buying?
After all the price indicators and resistance and descriptions, we come down to the most awaited section, Let’s take a look at the two scenarios.
Medium to long term: Looking at the current trend it would not be difficult for investors to understand that this is too early to invest in Zyberswap the market is extremely volatile with a long downtrend, and the odds of the trend reversal are very minimal unless a significant positive news floats in the market.
Short term: The traders can look up the resistance and the support levels for trading in the stock, Currently it would be advised to keep an eye on the behavior of the current price and its trail with the 50 EMA if the price of ZYB breaks over and sustains the levels of 50 EMA then a buying action can be made as the MACD has given a buy signal the bulls will likely push ahead.
Conclusion
Zyberswap launched in January 2023, is decentralized, (DEX), and runs on Arbitrum blockchain, zyberswap is said to be the first to use the Automated maker model (AMM), Its perks involve taking the least fees in comparison with its competitors, and also keeping the privacy and security of its users in the uttermost priority. The price of the token started falling after making its all-time high in February 2023, currently, the price is in a downtrend with some supports and resistances seen on 4h time frame. The Investors are advised to avoid medium to long-term investments and the traders are advised to watch out for the 50 EMA and its behavior with the current price
Technical levels
Support: $0.0879, $0.0670
Resistance: $0.1171, $0.1844
RSI: 41
50 EMA: $0.1089
200 EMA: $0.1580
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
