ZKsync (ZKUSD) Potential Reversal at the $0.166 Low Level

ZKsync Price Forecast: January 14

The ZKUSD market price might soon resume its upward trend with a potential reversal at the $0.166 low level. A bullish breakout confirmation that closes above the $0.228 resistance level would indicate that the market will rise more. By doing this, buyers will have a stronger foundation to extend this recovery. Therefore, a post-retest rally could surge prices to hit the resistance trend level of $0.300, suggesting a remarkable surge.

Key Levels:
Resistance Levels: $0.207, $0.206, $0.205
Support Levels: $0.175, $0.174, $0.173

ZKUSD Long-term Trend: Bearish (4H chart)

The ZKsync price indicates a potential reversal with a bearish sentiment in its long-term perspective. The price is dropping below the moving average lines and has confirmed its drop.

The interference of short-term traders to the $0.174 low level in the previous action has contributed to its bearish momentum.

The price of ZKUSD at the $0.166 low value below the EMA-50 as the 4-hourly chart opens today is due to low bullish pressure and suggests a potential reversal as the market selling pressure will soon be exhausted.

Hence, if the bulls increase their confidence in the ZKsync investment, the coin market trend could experience a potential reversal and see another uphill trend by reversing from the $0.166 current support level and hit the $0.228 resistance barrier, attracting big players to drive the coin price higher.

Meanwhile, further downsides are unlikely as the market price of ZKUSD has reached the oversold region. A potential reversal is crucial at this point, and this might lead the coin price to a high at $0.300 upper resistance, indicating a strong supply zone for a potential BUY in its higher time frame.

ZKUSD Short-term Trend: Bearish (1H chart)

The coin also trades in a bearish trend market, suggesting a potential reversal in the medium-term outlook, due to the high impact from the short-term traders in the price flow.

The bears’ pressure on the ZKUSD pair to a $0.174 support level in the previous action has made the coin price remain below the resistance levels in its recent low.

The ZKync price at the $0.166 low level below the EMA-50 as the 1-hour chart commences today suggests a potential reversal as the market is already oversold.

Thus, if the bulls can put extra effort into the price action, the price of ZKsync could see a potential reversal and break above the $0.226 supply value. As a result, further selling pressure will be put into hibernation.

In continuation, the market price of ZKUSD is in the oversold region of the stochastic, suggesting that the selling pressure has reached exhaustion; the expected upside in the price could be high at $0.300 in the coming days in its medium-term outlook.

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