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ZKsync (ZKUSD) Price Might Head to $0.160 Supply Level

Johnathon Fox
10/08/2024 | UPDATED ON: 10/08/2024

ZKsync Price Forecast: October 8

The ZKUSD price might head to a $0.160 supply level as it recovers with the entire crypto market gaining about 3.8% in the past 24 hours. The coin gave a bullish breakout from the $0.133 level, suggesting the buyers are making a recovery attempt. Thus, if the crypto’s price sustains above the $0.153 high level, the potential rally could surge higher to hit the $0.160 resistance level and beyond, indicating that the bulls are gaining strength.

Key Levels:
Resistance Levels: $0.135, $0.145, $0.155
Support Levels: $0.117, $0.116, $0.115

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

ZKUSD rebounded after its massive drops. The coin price might head to a $0.160 resistance level as it journeys to the north in its long-term outlook. The market shows that the price may be trading in a new ascending channel.
ZKsync (ZKUSD) Price Might Head to $0.160 Supply Level
At the writing time, the ZKsync price has moved higher to a $0.133 high level above the EMA-50 as a pullback from the long investors as the 4-hourly chart resumes today, indicating the potential for further gains.

Meanwhile, if the bulls could prove stronger and add more tension to their buying pressure, the ZKUSD price might head to the $0.153 barrier level, bolstering the bullish momentum for a higher recovery.

Additionally, the momentum indicator highlighting indicates that the price of ZKsync is in an uptrend and might head to the $0.160 supply level and beyond soon in the higher time frame.

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

The market price of ZKUSD is currently trading in the bullish market zone and might head to $0.160 due to the high impact of the bulls in the market. The crypto price is above the supply levels, indicating a bullish trend.
ZKsync (ZKUSD) Price Might Head to $0.160 Supply Level
The previous action by the bulls to a $0.127 high level has sustained the ZKsync price above the supply trend lines in its recent high.

Today, the ZKsync buyers’ corrective rally at a $0.133 high level above the moving averages shortly after the 1-hour session opens today might head to the $0.142 previous high, amid an ascending bullish pattern.

Hence, a bullish breakup above the $0.142 resistance pattern could accelerate the price and might head toward the upper resistance levels.

Further, the ZKUSD price is an uptrend on the price indicator. As a result, the bullish race might head to the $0.160 resistance level in the coming days in its short-term outlook.

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About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

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