The ZKsync token has seen only small gains, but this has been enough to keep the market afloat above key technical levels. As such, upside forces may continue to build in the coming sessions. Let’s dive into the market analysis below.
ZK Market Statistics
Current Price: $0.05765
Market Capitalization: $463.85M
Circulating Supply: 8.07B
Total Supply: 13.75B
CoinMarketCap Rank: 135
Key Price Levels
Resistance: $0.06000, $0.06500, $0.07000
Support: $0.05500, $0.05000, $0.04500
ZKsync Shows Bullish Short- to Medium-Term Outlook
Today’s ongoing session has remained bullish in the ZK daily market, represented by a green price candle. In addition, it has pushed the token’s price above the 9-day Exponential Moving Average (EMA) curve.
The lines of the Stochastic Relative Strength Index (SRSI) indicator have just completed an upward crossover near the 80 mark. This movement aligns with the current bullish momentum, hinting at a possible continuation of the upward retracement.
ZK Bulls Intensify Upward Movement
On the 4-hour chart, ZKsync’s price continues along an upward trajectory. The most recent price candle can be seen maintaining close proximity to the 9-day EMA curve. Meanwhile, the SRSI lines have sustained an upward bearing since the last crossover in the oversold region of the indicator.
Combining this with the current price action, it can be inferred that ZKsync appears poised for further upward movement through the $0.0600 price level. Traders may target the $0.06250 mark in the short term.
Make money without lifting your fingers: Start trading smarter today
