ZKsync Market Analysis- May 6
ZKSync (ZKUSD) has continued its downward trajectory, reinforcing a broader bearish trend despite briefly showing signs of a potential bullish reversal in April 2025.
ZKUSD Key Levels
Support Levels: $0.06500, $0.03200
Resistance Levels: $0.10790, $0.15600
ZKUSD Long-Term Trend: Bearish
ZKSync (ZKUSD) has resumed its dominant bearish trajectory after a failed bullish reversal. The token established a significant high in December 2024, which marked the beginning of a downward shift. This bearish reversal was confirmed as price broke below the critical $0.15600 support level, disrupting the previous bullish market structure.
Since then, ZKUSD has continued to set lower lows, with bearish momentum intensifying, leading to a breakdown below the $0.06500 demand zone. In mid-April, a strong bullish crypto signal sparked optimism for a potential trend reversal. This rally was supported by the daily Relative Strength Index (RSI), suggesting a temporary oversold recovery.
However, the bullish scenario was quickly invalidated. A renewed bearish reversal took hold, confirmed by the daily Moving Average, which now places the price firmly below its line of support. This reinforces expectations for further declines, with a new lower low likely to form as the bearish trend regains control.
ZKUSD Medium-Term Trend: Bearish
On the medium-term (4-hour) chart, ZKUSD attempted a rally above the $0.06500 level but was met with resistance. The formation of a failed high pattern confirmed the bearish reversal, driving price lower and forming a sequence of lower highs as it moved closer to its previous low.
The 4-hour Moving Average also signals a bearish outlook, with price currently trading beneath the indicator. While the RSI shows that ZKUSD is in the overbought territory, any bullish momentum is expected to be short-lived. Overall, price action suggests a continuation of the bearish trend in the near term.
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