‎ZKsync Maintains Bearish Outlook as Price Retests Key Support Levels

‎ZKsync Market Analysis – May 19

‎ZKsync (ZKUSD) continues to exhibit a strong bearish trajectory as the market forms a new bearish leg, reinforcing the prevailing downtrend.

‎ZKUSD Key Levels

‎Support Levels: $0.06500, $0.03200
‎Resistance Levels: $0.11500, $0.16000

‎ZKUSD Long-Term Trend: Bearish‎

‎Since the structural bearish break at the start of 2025, ZKUSD has maintained a consistent downward trend. Throughout this bearish move, the price has only seen brief, shallow retracements, ultimately slipping below the critical $0.06500 demand zone.
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‎Following the breakdown of the $0.06500 level, the daily Relative Strength Index (RSI) entered oversold territory, prompting a notable bullish reaction. This reaction served as a corrective retracement, which eventually met resistance at a daily order block. At this point, the RSI signaled overbought conditions, indicating exhaustion of the bullish momentum.
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‎Currently, ZKUSD is showing renewed signs of bearish pressure. A series of bearish candles are forming, with price action once again breaching below the $0.06500 level and the Moving Average indicator, confirming the crypto bearish continuation signal. Should this momentum persist, price is likely to decline further, potentially targeting the $0.03200 support zone.

‎ZKUSD Medium-Term Trend: Bearish‎

‎On the 4-hour chart, market structure has also shifted bearish. Price has begun to react to a rejection from a 4-hour order block, in alignment with bearish signals from the RSI, which suggests growing downward momentum.
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‎The 4-hour Moving Average indicator further supports this outlook, as price is trading below the MA line. Despite occasional bullish reactions, the broader higher time frame bias remains bearish, indicating a likely continuation of the downward trend in the medium term.

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