‎ZKSync Poised for Bullish Reversal Following Failed Low Formation

‎ZKsync Market Analysis- August 12

‎ZKSync is showing early signs of a potential bullish reversal as a failed low formation sparks renewed buying momentum.‎

‎ZKUSD Key Levels

‎Support Levels: $0.05950, $0.03780
‎Resistance Levels: $0.08000, $0.09500

‎ZKUSD Long-Term Trend: Bearish

‎ZKsync maintained a bearish trajectory from March 2025 through May 2025, until a notable shift emerged in June. During this period, a strong bullish move developed, leading to the formation of a failed low pattern—a technical signal suggesting a potential shift toward an uptrend.
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‎The first sign of strength came when price rejected the $0.03780 demand level, where buyers capitalized on discounted market conditions. Although the bearish trend attempted to resume following a rejection at $0.05950, renewed buying pressure took over, cementing the failed low formation.
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‎Further supporting the bullish case, the daily Relative Strength Index (RSI) shows increasing upward momentum, approaching the overbought zone. If this trend persists, price is expected to advance toward the $0.08000 supply level, with a strong likelihood of attempting to breach it.

‎ZKUSD Medium-Term Trend: Bullish

‎On the 4-hour timeframe, ZKSync has formed a reverse head and shoulders pattern immediately following the failed low. This pattern reinforces the bullish outlook, with price now eyeing a recovery of the $0.05950 demand level.
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‎Should this level be reclaimed, bullish momentum is likely to carry price toward the $0.08000 supply zone. The market’s behavior at this level will determine whether the move evolves into a sustained bullish reversal or a short-term continuation.

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