ZKsync Market Analysis- July 29
ZKsync resumes its bearish trend as price rejects strongly from the 0.618 Fibonacci retracement level, signaling a potential continuation of the broader downtrend.
ZKUSD Key Levels
Support Levels: $0.03700, $0.01980
Resistance Levels: $0.06210, $0.08230
ZKUSD Long-Term Trend: Bearish
Since reaching the $0.08230 supply level in early May 2025, ZKsync has been on a consistent bearish trajectory. This downward move led to a break in structure, confirming a bearish bias in the overall market direction.
Price eventually found temporary support at the $0.03700 demand zone, where a bullish retracement began in late June 2025. However, this recovery has recently stalled at the key 0.618 Fibonacci retracement level — a zone often associated with trend reversals. At this level, ZKsync also rejected from the $0.06210 supply zone, adding further weight to the bearish outlook.
Additionally, a head and shoulders pattern has formed around this area, reinforcing the probability of a bearish reversal. The daily Relative Strength Index (RSI) is pointing downward, suggesting weakening bullish momentum and aligning with the bearish long-term trend.
ZKUSD Medium-Term Trend: Bearish
While the daily chart structure clearly reflects a bearish bias, the 4-hour timeframe shows that a full bearish confirmation is still developing. The lower low, which would confirm a new bearish leg, has yet to form.
Nonetheless, both the 4-hour RSI and the Moving Average currently support a bearish scenario. Price action sits below the moving average, and RSI continues to decline — both indicating building bearish pressure. Once a lower low is established on the 4-hour chart, it will serve as confirmation of the continuation of ZKsync’s bearish trend.
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