After hitting a new 1-month low and slipping as low as 20 μBTC, Zetacoin (ZET) is showing signs of emerging from its slump. ZET is holding steady at 26 μBTC (2.6¢) on Cryptsy in today’s trading.
Unlike other altcoins that have been gaining prominence in recent days, ZET had been showing bearish signs of slipping even further toward its pre-December run-up levels. It had been re-establishing successively new lows until recently. It has bounced back from its low of 20 μBTC and appears to be reversing course, showing flattening behavior around the low and buildup of a foundation to climb back to 30 μBTC on increasing volume.
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Interest may be picking up again after some followers of the cryptocurrency have started to question its future chances of success and even its fate, with one post writing it to the footnote of history. The recent negativity and fall in market cap may be stimulating natural survivor instinct among supporters, who have come out swinging in favor of the cryptocurrency’s merits. The reaction be enough to reverse the previous trend of selling and spark a rebound back to levels seen earlier in 2014.
Zetacoin currently has a market cap of $3.7M.