‎Zksync (ZKUSD) Faces Bearish Continuation After Liquidity Grab at $0.06200 ‎

‎ZKsync Market Analysis- November 3

‎‎Zksync (ZKUSD) is currently showing signs of a potential bearish continuation after a brief liquidity-driven rally above the $0.06200 level, as market momentum begins to shift back in favor of sellers.

‎ZKUSD Key Levels

‎Support Levels: $0.03700, $0.018200
‎Resistance Levels: $0.06200, $0.08500

‎ZKUSD Long-Term Trend: Bearish

‎ZKSYNC recently experienced a strong bullish impulse as price swept liquidity above the $0.06200 supply level. Before this move, the market had been trending steadily lower, breaching the $0.03700 demand level during its prior bearish phase.
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‎Despite the brief bullish surge, this move appears to be a corrective retracement within a larger bearish structure. The formation of a failed low pattern indicates that buyers’ strength was short-lived, serving primarily to capture buy-side liquidity before the resumption of the bearish trend.
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‎Additionally, the daily Relative Strength Index (RSI) shows that the price has reached the overbought region, with early signs of a pullback emerging. This reinforces the likelihood of renewed bearish pressure targeting the $0.01800 demand level in the coming sessions.

‎ZKUSD Medium-Term Trend: Bearish

‎On the 4-hour chart, the rejection from the $0.06200 level—combined with signals of exhaustion in the overbought region—supports a bearish bias. The current retracement appears to be setting the stage for the next leg down, with price expected to retest and potentially break below the $0.03700 demand zone.
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‎Further confirmation of the bearish continuation will come if price drops below the 4-hour Moving Average, signaling the start of a second wave of downside movement toward the $0.01800 target.

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