‎ZKUSD Maintains Strong Bearish Momentum as Price Eyes Deeper Lows

‎ZKsync Market Analysis- October 29

‎ZKSYNC (ZKUSD) continues to face intense selling pressure as bearish momentum strengthens across multiple timeframes, signaling the possibility of deeper declines despite brief oversold conditions hinting at a minor pullback.‎

‎ZKUSD Key Levels

‎Support Levels: $0.03270, $0.01820
‎Resistance Levels: $0.04830, $0.07200

‎ZKUSD Long-Term Trend: Bearish

‎ZKSYNC continues to exhibit a strong bearish trajectory as sellers maintain dominant control over market momentum, pushing prices steadily lower. Despite multiple attempts by buyers to regain control, bullish efforts have repeatedly failed to surpass the $0.07200 supply level, leading to sustained declines toward the $0.03270 demand zone.
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‎As price approaches the $0.03270 level, the daily Relative Strength Index (RSI) reveals oversold conditions — a signal that typically precedes potential short-term bullish pullbacks. However, the prevailing price structure remains firmly bearish, showing no definitive signs of reversal or bullish momentum at this stage.
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‎Additionally, the daily Moving Average continues to validate the bearish sentiment, as price remains well below the indicator line. This alignment reinforces the probability of continued downward movement, though the pace of decline may slow temporarily due to the RSI’s oversold signal, which often triggers mild corrective rallies before further drops.

‎ZKUSD Medium-Term Trend: Bearish

‎On the medium-term outlook, ZKUSD recently experienced a clear bearish break of structure below the $0.03270 demand level — a decisive move confirming the continuation of the downward trend. This structural shift suggests that the $0.03270 level is likely to be breached, paving the way for deeper price movements.
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‎The next key downside target lies near the $0.01820 demand level, where a 4-hour bearish order block is expected to come into play. Traders should exercise caution, however, as short-term bullish pullbacks could emerge in response to oversold conditions before bearish momentum resumes its course.

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