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ZKsync (ZKUSD) Price to Break Up at $0.162 Level

Johnathon Fox
11/21/2024 | UPDATED ON: 11/21/2024

ZKsync Price Forecast: November 21

ZKUSD price may resume an uptrend to break up at the $0.162 supply level soon. A clear break below $0.139 will bring more losses to the coin. Meanwhile, a daily candlestick above the specified supply level would disprove any bearish hypothesis. Therefore, if buyers can put more effort into their tension in the market, a shift in the trend towards the $0.170 upper high level will be achieved, strengthening and increasing buyers’ grip on the asset.

Key Levels:
Resistance Levels: $0.150, $0.152, $0.154
Support Levels: $0.111, $0.110, $0.109

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

ZKUSD’s price responded to the shift in the market structure and is currently trending to break up at the $0.162 level as the new correction trend begins in its higher time frame.
ZKsync (ZKUSD) Price to Break Up at $0.162 Level
The cryptocurrency price has been below the supply trend levels since its most recent low due to the persistent bearish pressure over the last few days.

The ZKsync market is recovering from the previous correction as fresh buying emerges near the supply level, following the upbeat trend.

The buy traders pushed the market price of ZKUSD to the $0.143 resistance value below the EMA-50 shortly after the 4-hourly chart opened today.

Thus, a break up above the $0.162 previous swing high would assist buyers in regaining control and potentially drive the coin price toward the upper resistance area.

Additionally, under the influence of this market level, the ZKsync price could rise steadily and break up the previous high at $0.162 level to reach the $0.170 upper resistance level soon as the crypto price prepares for the next bull run in the long-term perspective.

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

The momentum on the short-term outlook looks bearish, but it is starting to turn bullish and may break up at the $0.162 peak. The trend has just resumed its rising pattern but has not yet reached its goal.
ZKsync (ZKUSD) Price to Break Up at $0.162 Level
The price of ZKUSD is currently trading at the resistance close to the EMA-50, suggesting a bearish market. So, it seems bulls are about to take over and push us higher.

Despite the interactions from the short traders, the bulls caused a rise in the price of zksync to a $0.162 high level below the EMA-50 shortly after the commencement of the hourly chart today. Thus, buyers must add more pressure to their activities to move the market beyond the current price level.

Hence, the bullish momentum might be triggered and the coin price may likely increase to break up the $0.162 previous high value soon if the current support remains unmoved and the bulls should speed up their activities in the market.

Additionally, the price signal is pointing upward, suggesting a positive move. In this scenario, the price may rise to break up at its previous high of $0.162 to hit the $0.170 supply mark soon in its short-term forecast.

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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.

View all posts by Johnathon Fox →
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