ZKsync Market Analysis – July 8
ZKsync (ZKUSD) ends its short-term bullish recovery and resumes a bearish trajectory, signaling continued seller dominance across the higher timeframes.
ZKUSD Key Levels
Support Levels: $0.05300, $0.03500
Resistance Levels: $0.06900, $0.08600
ZKUSD Long-Term Trend: Bearish
ZKsync (ZKUSD) has resumed its long-term bearish trend after rounding off a short-lived bullish move. Earlier this year, price action was dominated by sellers, driving the market downward until it found temporary support at the $0.05300 demand level in April 2025. This support triggered a strong bullish rally that managed to slightly breach the $0.06900 supply level, showing signs of possible trend reversal.
However, the upward momentum peaked just before reaching the $0.08600 supply level. A key signal of the bullish exhaustion was the daily Relative Strength Index (RSI), which entered the overbought zone, hinting at a potential reversal. Following this, ZKUSD quickly reversed direction, invalidating the bullish structure as sellers regained control.
The market broke below the $0.05300 demand level and began targeting the lower $0.03500 demand zone. Before reaching this level, a brief bullish retracement occurred, retesting the $0.03500 zone and forming a double top pattern—an indication of further bearish pressure and an increased likelihood of the $0.03500 level being breached.
ZKUSD Medium-Term Trend: Bearish
After forming the double top pattern, a bearish reaction followed as price declined further. However, this decline entered a brief consolidation phase, suggesting a temporary pause in momentum. The RSI mirrored this behavior by dropping from the overbought region to its equilibrium level, where price began to range.
Given the prevailing bearish market structure, the recent double top pattern, and absence of bullish reversal signals, the outlook remains decisively bearish. Further downside movement is anticipated in the medium term as sellers continue to dominate ZKUSD price action.
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