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ZKsync Market Analysis – April 16th
ZKsync has been locked in a consistent bearish trend, recently transitioning into a narrower price range while still respecting the downward market structure.
ZKUSD Key Levels
Support Levels: $0.08370, 0.04280
Resistance Levels: $0.11970, $0.16340
ZKUSD Long-Term Trend: Bearish
As the first quarter of 2025 began, ZKsync experienced a significant bearish break of market structure, which initiated a broader downward trend. Throughout February till recent price action, the asset continued to move lower but within a noticeably tighter range, signaling a possible phase of market compression.
This bearish continuation saw ZKsync break below the $0.08370 demand level, eventually testing the long-standing bearish trendline support. Upon reaching this area, price action displayed bullish momentum, only to retest $0.08370—now acting as a supply zone—before resuming its decline toward the $0.04280 demand level.
At the $0.04280 zone, ZKsync began to show signs of recovery. A sharp bullish reaction emerged, suggesting a potential retracement or short-term reversal. Supporting this is the daily Relative Strength Index (RSI), which has dipped into oversold territory indicating a bullish crypto signal, reinforcing the likelihood of an upward correction. Despite this, the broader bias remains bearish, and any bullish activity should currently be viewed as a corrective move within that larger trend.
ZKUSD Medium-Term Trend: Bullish
While the overarching market sentiment remains bearish, ZKsync is currently testing a key trendline support level—a region that historically triggers bullish rebounds. This suggests that a short- to medium-term bullish retracement is underway.
If this pattern continues, price may climb toward the trendline resistance, potentially providing an optimal zone for the continuation of the larger bearish trend. Until the bearish structure is invalidated, any upward move is best interpreted as a temporary correction rather than a full reversal.
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