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ZetaChain Price Prediction 2024: ZETA Price Analysis

Last Updated June 28, 2024 12:39 PM
Giuseppe Ciccomascolo
Last Updated June 28, 2024 12:39 PM

Key Takeaways

  • ZetaChain’s token ZETA launced on February 1 and reached an all-time high two weeks later.
  • The price has corrected since despite a brief bounce in April, which created a lower high.
  • Our price predictions imply that ZETA can begin an upward movement soon.

ZETA, the native cryptocurrency of ZetaChain , an interoperability blockchain platform, skyrocketed by 150% within just a few hours of its debut on February 1, 2024.

ZetaChain represents a blockchain that aims to usher in a new era of blockchain interoperability through its inherent capabilities.

Promising users seamless compatibility across various platforms including EVM, Cosmos (ATOM), Bitcoin (BTC), Dogecoin (DOGE), Tron (TRX), and more, ZetaChain aims to empower developers by facilitating data and native value transfers across a range of blockchain networks.

ZetaChain did not immediately respond to a request for comment

But what is ZetaChain (ZETA)? How does ZetaChain work? Let’s take a look at our own ZetaChain price predictions made on June 28, 2024. We’ll also examine the TRON price history, and we will talk a little about what TRON is and what it does.

ZetaChain Price Prediction

We usually employ two methods to create a cryptocurrency price prediction. More specifically, predictions are created using fractals (mirroring movements and indicator readings) and the wave count.

The mean of the two predictions gives the average price prediction, the more bullish one is used for the maximum price prediction while the more bearish one for the minimum.

However, the ZETA price history starts in February 2024, so there is insufficient data to create a fractal price prediction. As a result, we can only make a wave count-based prediction.

Therefore, 20% is added above and below the target to figure out the minimum and maximum predictions.

Minimum ZETA Price Prediction Average ZETA Price Prediction Maximum ZETA Price Prediction
2024 $1.89 $2.37 $2.83
2025 $2.16 $2.70 $3.24
2030 $6.10 $8.30 $11.50

Wave Count Prediction

While the ZETA price increased after its launch, reaching an all-time high price of $2.87 on February 15, it has corrected since. The correction has taken an A-B-C corrective structure, which might have ended on June 24.

The reasons for this are that waves A:C had a 1:0.618 ratio, the sub-wave count shows a completed five-wave downward movement (black), the price created a bullish candlestick (green icon).

Moreover, the daily RSI generated a bullish divergence inside oversold territory for the first time in history (green).

ZETA Price Prediction
ZETA/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

While it is still unclear is an upward A-B-C correction or a five-wave increase will follow this pattern, the assumption is made that the latter will happen, mainly because of the RSI reading.

If the ensuing upward movement has 1.61 times the length of the correction, ZETA will reach a new all-time high price of $4.17 in January 2025. Before this, a price target of $2.36 is likely at the end of 2024.

Then, for the end of 2025, we use the rate of increase from launch to the predicted price at the end of 2024. This prediction is speculative because it is based on the projected increase of another prediction, making it derivative.

From the ZETA price in February 2024 to that in December 2025, the price increased by 0.42% daily. Projecting this rate of increase until the end of 2025 leads to a price of $2.36.

ZETA 2030 Price Prediction
ZETA/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

The same rate of increase leads to a price of $8.30 by the end of 2030.

ZetaChain Price Prediction for 2024

The wave count prediction for the end of 2024 gives a target range between $1.89 and $2.83.

ZetaChain Price Prediction for 2025

The wave count prediction for the end of 2025 gives a target range between $2.16 and $3.24. Before reaching this level, ZETA is expected to reach a new all-time high of $4.17 in the first quarter of the year.

ZetaChain Price Prediction for 2030

The ZetaChain price prediction for the end of 2030 uses the current rate of increase. A price between $6.10 and $11.50 is likely if a similar rate of increase continues for the foreseeable future.

ZETA Price Analysis

The daily time frame ZETA price chart shows that the decline since the all-time high has been contained inside a descending parallel channel. This often happens in corrective structures, so it fits perfectly with the A-B-C corrective structure from the long-term predictions.

The June 24 bounce validated the channel’s support trend line. Besides the bounce, the daily RSI and MACD have both generated notable bullish divergences (green). These divergences often lead to bullish trend reversals.

ZETA Price History
ZETA/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

If ZETA begins an upward movement, it can reach the channel’s resistance trend line at $1.20. Breaking out from the channel will confirm the trend is bullish. Conversely, a breakdown from the channel can trigger a drop toward a new all-time low price.

Short-Term ZetaChain Price Prediction

The short-term ZetaChain price prediction is based on the movement inside the channel. If the previous analysis is correct, ZetaChain will gradually increase toward the channel’s resistance trend line.

Zetachain Price Prediction 24 Hours
ZETA/USD Daily Chart | Credit: Valdrin Tahiri/TradingView

The ZetaChain price prediction within the next 24 hours suggests ZETA will increase slightly, possibly trading at $0.85. Then, it can reach $0.93 by the end of next week and $1.20 by the end of July, reaching the channel’s resistance trend line.

ZetaChain Performance Comparison

Zetachain is a blockchain that deals with smart contracts. So, let’s compare it to projects in the same category that have similar market capitalizations.

Current Price One Year Ago Price Change
QTUM $2.61 $2.32 10.2%
CSPR $0.020 $0.038 -46.3%
ZIL $0.0178 $0.0191 -9.6%
ZETA $0.84 $1.43 (one month ago) -40%

ZetaChain Price History

Now, let’s examine the ZetaChain price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a ZetaChain price prediction.

ZETA launched in February 2024 and immediately increased, reaching its all-time high price of $2.85 on February 15. However, it has fallen since, reaching a low of $0.81 on June 24. While the price started a bounce in April, that was short-lived, and the downward trend resumed in May.

ZETA History
ZetaChain Price History | Credit: CoinGecko
Period ZETA Price
Today (June 28, 2024) $0.84
Last Week (June 21, 2024) $0.85
Last Month (May 28, 2024) $1.50
Three Months Ago (March 28, 2024) $2.08
Last Year (June 28, 2023) N/A
Launch Price (February 1, 2024) $0.65
All-Time High (February 15, 2024) $2.85
All-Time Low (February 1, 2024) $0.65

Is ZetaChain a Good Investment?

It is hard to say. The token’s price has shot up after its launch, but there may already be signs of a downturn.

On the other hand, there are good reasons for ZetaChain’s recent movements, with new developments getting investors’ attention.

As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in ZETA.

Who Owns the Most ZetaChain (ZETA)?

As of June 28, 2024, the five wallets with the most ZETA tokens  were:

  • 0x000007cf399229b2f5a4d043f20e90c9c98b7c6a. This wallet holds 1,655,197,030 tokens, or 78.82% of the total supply.
  • 0x306c36a5b41b69919372235b1a7212a738045346. This wallet holds 136,500,000 tokens, or 6.50% of the total supply.
  • 0xefee6720d5e373deb4fe121c2b3b6f96e7012c31. This wallet holds 84,000,000 tokens, or 4% of the total supply.
  • 0xbd4b7856c0cbefe423372ee224254cf5897012b9. This wallet holds 52,500,000 tokens, or 2.50% of the total supply.
  • 0x36d80b138c058b929f53719396653168db372782. This wallet holds 42,000,000 tokens, or 2.00% of the total supply.

So, THETA is extremely centralized with one wallet holding nearly 80% of the total supply. This could be troublesome if the wallet decides to unload a large portion of their holdings.

Supply and Distribution Figures
Maximum Supply 2,100,000,000
Circulating supply as of June 28, 2024 275,143,750 (13% of the total supply)
Holders distribution as of June 28, 2024 Top 10 holders own 95% of the total supply

From the Whitepaper

In its technical documentation, or whitepaper , ZetaChain describes a public Layer 1 blockchain designed specifically to enable seamless communication and interaction between different blockchains, even those that don’t support smart contracts like Bitcoin.

Overall, the ZetaChain whitepaper proposes a unique approach to blockchain interoperability, aiming for a more secure, generalized, and all-encompassing solution.

ZetaChain (ZETA) Explained

ZetaChain (ZETA) is a Layer 1 blockchain and interoperation platform that enables cross-chain data exchanges and smart contract executions. Decentralized apps (DApps) built on ZetaChain utilize smart contracts that can read and write data across different chains.

How ZetaChain Works

ZetaChain  uses a simpler and more robust trust model, where only our network is trusted to deliver data/value, vs. a third-party. On our decentralized proof-of-stake network, no single node has knowledge of any private key. It can sign and hold assets natively, and funds at rest are never at risk.

Will ZetaChain go up or down?

ZETA does not have a long price history, making it difficult to make predictions for its future price movement, especially in the long-term. However, the short-term chart shows that ZETA has bounced at the support trend line of a long-term ascending parallel channel. When combined with the bullish divergences in the RSI and MACD, this indicates the correction could be over.

Despite this bullish forecast, breaking down from the channel will indicate the bottom is not in yet and can lead to more lows.

Should I invest in ZetaChain?

Before you decide whether or not to invest in ZetaChain, you will have to do your own research, not only on ZETA, but on other coins and tokens. Either way, you will also need to make sure that you never invest more money than you can afford to lose

ZetaChain Attention Tracker

ZetaChain Google Search Volume
ZetaChain Google Search Volume | Credit: Google Trends

Here is a chart for ZetaChain’s google search volume for the past 90 days. This represents how many times the term “ZetaChain” has been Google over the previous 90 days.

FAQs

How many ZetaChain are there?

As of June 28, 2024, there were 275.5 million ZETA in circulation, out of a total supply of 2.1 billion.

Will ZetaChain reach $10?

Our price predicitons suggest that ZETA can trade in a range between $6.10 and $11.50 by the end of 2030.

What is ZetaChain?

ZetaChain (ZETA) is a Layer 1 blockchain and interoperational platform that enables cross-chain data exchanges and smart contract executions. Decentralized apps (DApps) built on ZetaChain utilize smart contracts that can read and write data across different chains.

Disclaimer
Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
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