ZKsync Price Forecast: November 5
The ZKUSD pair has shown a significant rebound. The price suggests a potential breakout as it inches close to the resistance levels. Therefore, if the bull could activate its forces in the market, the price may turn positive to hit the high level of $0.152 and beyond, suggesting a major breakout that leads to potential gains.
Key Levels:
Resistance Levels: $0.129, $0.130, $0.131
Support Levels: $0.117, $0.116, $0.115
ZKUSD Long-term Trend: Bearish (4H chart)
On the long term, ZKUSD price suggests a potential breakout as it shows potential to drive high momentum rally after its massive drops. 
The price responded to the shift in the market structure and is currently trading below the moving averages, indicating a bearish trend.
The bears’ pressure on the crypto in the past few hours has dropped the coin price below the supply trend lines. However, a potential breakout is imminent as the bulls start the new corrective move.
Today, the ZKsync market structure suggests a potential breakout as it rebounded and pushed higher to the $0.123 supply level below the EMA-50 as the 4-hourly chart opens, potentially targeting a bullish breakout amid increasing investors interest.
Further, with sustained buying, the ZKUSD price could plunge and experience a potential breakout to hit the $0.152 previous high, denoting a bullish trend and a rise in volatility.
Notably, the price of ZKsync suggests a potential breakout as it indicates an uptrend on the daily stochastic. Hence, the post-retest rally may lead the coin price to reach the $0.160 upper resistance level, offering a good entry point for coin buyers as it suggests a potential breakout in its higher time frame.
ZKUSD Short-term Trend: Bearish (1H chart)
A potential breakout is imminent as the ZKUSD pair begins its bullish short-term outlook. The crypto price is below the supply levels, indicating a bearish trend. Thus, the ZKsync market is making a correction and suggests a potential breakout soon.
The previous action by the short traders at the $0.117 low level has contributed to its bearishness in its recent high.
The bulls’ rise to a $0.123 high level below the moving average shortly after the 1-hour chart opens today suggests a potential breakout, which could attempt the $0.131 previous supply level.
Hence, the stochastic oscillator pointing up on the daily signal suggests a potential breakout which might increase to a $0.160 upper supply level in the coming days as it suggests a potential breakout in its lower time frame.
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