ZetaChain (ZETA) Falls to New All-Time Low After 92% Price Decline

Key Takeaways

• ZetaChain (ZETA) has fallen 93% since its all-time high.
• The ZETA price reached a new all-time low on March 11.
• When will the ZETA downward movement finally end?
• Interested in buying or selling ZETACHAIN ZETA coin? Read our review of the best exchanges to buy and sell ZETACHAIN ZETA.

ZetaChain (ZETA) has had a rough ride since its launch in January 2024. While the price increased for two weeks, reaching a new all-time high next month, the trend has reversed since, leading to a 93% decline and a new all-time low on March 11.

How long will the ZETA decline continue, and where are the possible areas for a reversal? Let’s examine the charts and find out.

ZETA Reaches All-Time Low

The weekly time frame chart shows that ZETA has declined steadily since its all-time high of $2.87 in February 2024. While some bounces have been, they all led to lower highs and, eventually, lower lows.

The most recent was a six-month bounce starting in August 2024, which created an ascending parallel channel. ZETA then broke down from the channel, continuing its downward movement.

ZETA fell to a new all-time low of $0.182 on March 11, a decline of 93% since the all-time high.

Technical indicators do not show any signs of relief. The Relative Strength Index (RSI) just fell below 30, while the Moving Average Convergence/Divergence (MACD) is negative and has made a bearish cross.

So, the 3-day chart suggests the ZETA downward movement will continue.

Where Will ZETA Bottom?

The long-term wave count aligns with the bearish price action and indicator readings. According to the count, ZETA is in wave three of a five-wave downward movement that started in February 2024.

If wave three has the same length as wave one, the ZETA price will bottom at $0.117. The sub-wave count is in black, indicating that the price is in the final portion of wave three.

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While the decline may also be an A-B-C correction, the severity of the drop makes it more likely that it is a five-wave downward movement.

Therefore, a strong bounce could occur at the $0.117 level, but another downward movement will still be likely, taking ZETA to yet another all-time low.

Because of the lengthy downward movement, reclaiming the $0.35 horizontal level will mean the bottom is in place, leading to a corrective structure. This currently seems unlikely.

No Bottom in Sight

The ZETA trend has been bearish almost since its launch. The downward movement shows no signs of slowing down. The next closest support level is $0.117, over 40% below the current price.