ZKsync (ZKUSD) Price Surge to Retest the $0.228 High Mark

ZKsync Price Forecast: January 16

Amidst the recent correction in the crypto market, the ZKUSD price surge will soar higher to retest the $0.228 high mark. The coin price having retraced to a new high, will continue its bullish correction. The price could go higher to hit the mentioned resistance value if the bulls break up the $0.228 supply mark. A good upside momentum up to the $0.300 upper high value might be reached, offering a good buying opportunity for interested traders.

Key Levels:
Resistance Levels: $0.150, $0.155, $0.160
Support Levels: $0.108, $0.107, $0.106

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

The ZKUSD pair portrays a bearish market trend aiming to retest the previous peak in its long-term outlook.
The price responded to the shift in the market structure and is currently below the moving averages, indicating a bearish momentum.

The bears’ sustained pressure on the cryptocurrency to the $0.161 low value in the last session has enhanced the price to stay below the supply levels, ready for
an upward performance and surge to retest its previous high.

ZKsync price on the 4-hourly chart today is currently facing resistance and trading at the $0.176 correction level, suggesting buyers are making a recovery attempt.

Thus, if the crypto price can sustain above the $0.217 high level, the potential rally could surge to retest $0.228 and beyond, offering traders a good buy entry opportunity.

In addition, the daily stochastic indicates an upward trend, indicating that the ZKUSD price may continue with the bullish trend and surge to retest the $0.228 high value, extending further to reach the $0.250 resistance mark in the coming days in its long-term outlook.

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

 

The currency pair’s orientation trades in a bullish market, aiming to surge to retest its previous high level in its short-term outlook. The price bar is above the moving averages, suggesting a bullish trend.
The intervention from the long traders at $0.175 in the past few hours has made the coin price surge above the resistance level in its recent price.

The market value of ZKUSD might surge to retest the previous high as it jumps up to the $0.176 high level above the EMA-50 shortly after the commencement of the 1-hourly chart today, indicating that positive sentiment is returning to the market. Thus, buyers must add more pressure to their activities to move the market beyond the current price level.

Hence, the ZKsync pair pointing up on the daily stochastic implies that the buying pressure may continue, suggesting a possible bullish expansion which may surge to retest the $0.185 peak barrier and extend the token price to hit the $0.250 supply level in the days ahead in the medium-term time frame.

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