ZKsync Market Analysis – October 1
ZKUSD has recently displayed strong technical signals pointing to a shift in market sentiment, with multiple reversal patterns confirming a recovery in bullish momentum.
ZKUSD Key Levels
Support Levels: $0.05700, $0.04300
Resistance Levels: $0.6800, $0.08150
ZKUSD Long-Term Trend: Bullish
ZKSync has experienced a bullish reversal, forming a reverse head-and-shoulders pattern that resulted in a higher high structure. This temporary breakout allowed price to surpass the $0.06800 demand level before sellers stepped in to push the market lower.
The bearish leg extended below the $0.05700 demand level, approaching the $0.04300 zone. However, before reaching that level, price established a double bottom formation—an established bullish reversal pattern—that effectively halted the sellers’ decline. This triggered renewed buyer strength, setting the stage for a fresh bullish momentum.
The daily Relative Strength Index (RSI) further supports this recovery, showing price rallying from the oversold region and signaling strengthening buy pressure. Currently, ZKUSD is attempting to reclaim the $0.05700 demand level, with buyers targeting the $0.06800 supply level once again.
ZKUSD Medium-Term Trend: Bullish
On the 4-hour timeframe, the early phase of this bullish momentum is evident. A clear market structure shift has occurred, followed by upward price continuation, confirming the medium-term bullish outlook.
However, the 4-hour RSI has entered the overbought region, suggesting a potential short-term retracement. Rather than signaling trend exhaustion, this move is likely to represent a corrective pullback toward the 4-hour order block before buyers reassert control and drive price higher.
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