ZKsync Price Forecast: October 31
The ZKsync price retesting the $0.151 supply value is crucial as the market price surges to the upper resistance zone. The coin buyers are working very hard to move the crypto price forward. The increase in volume reflects a heightened trading interest in ZKUSD’s derivatives. Therefore, if the bulls could trigger their forces in the market, the price may reach the $0.160 high level and beyond, showing high investors interest in the asset price.
Key Levels:
Resistance Levels: $0.134, $0.135, $0.136
Support Levels: $0.120, $0.119, $0.118
ZKUSD Long-term Trend: Bullish (4H chart)
ZKUSD remains bullish and works towards retesting the $0.151 previous high in its long-term outlook. The bullish impact to a $0.131 supply level in the last session has sustained its firmness above the supply levels in its recent trend levels.
As a result of the price increase today, buyers have been able to push the price of ZKsync higher to a $0.135 high level above the moving average lines as the 4-hourly session opens, resulting in an intraday gain for the coin buyers. Thus, the ZKsync price retesting the $0.151 barrier is crucial if the buying pressure persists, creating a strong area of interest for buyers.
Notably, the daily stochastic pointing upwards suggests the ZKUSD price retesting its all-time high is imminent. Hence, additional strength by the bulls might drive the crypto price to retest the previous high of $0.151, which can further extend to the $0.160 upper resistance value in the coming days, as the crypto poised at retesting the ATH of $0.151 supply level in its long-term outlook.
ZKUSD Short-term Trend: Bullish (1H chart)
The ZKsync pair aimed at retesting its previous high as the price journeys up north in its short-term view. The price bars are above the moving average, indicating a bullish trend.
The crypto price is above the supply levels in its recent high due to the increasing movement by the bulls to a $0.129 high mark in the past session.
Today, the ZKUSD market aims at retesting the previous resistance as the price surges to a $0.151 supply level above the EMA-50 shortly after the 1-hourly chart opens, showing promising signs of recovery as the price remains pressured above the crucial level, indicating a significant upward trend. However, the coin price can retest the $0.151 level soon as the bulls have just promised to keep the prices up north.
Next, the momentum indicator pointing upwards suggests the possibility of the coin retesting the $0.151 level soon and further extending to the $0.160 upper resistance value in the coming days in its short-term outlook.
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