ZKSync Price Forecast: October 3
The ZKUSD price retracement will surge higher following the recent resurgence in the market. The coin price is facing a new correction to resume its upward rally, and the price retracements will most likely surge higher as the price is actively expanding and increasing toward the resistance level. Thus, if the crypto’s price sustains above the $0.153 previous barrier mark, the potential rally could propel the crypto price towards the $0.160 upper resistance level and beyond, offering a strong resistance to the crypto price.
Key Levels:
Resistance Levels: $0.140, $0.150, $0.160
Support Levels: $0.101, $0.100, $0.099
ZKUSD Long-term Trend: Bearish (4H chart)
ZKSync price retracement will surge higher as seen from the chart below. The new correction pattern emerged following the return of the bulls to the market. However, the price bars are below the moving average line, indicating a bearish momentum.
The persistent bearish move to the $0.119 support level in the last session is the cause of its recent low. Meanwhile, the coin market is experiencing a notable price retracement and will surge higher.
After completing the low-dips by the sell traders at the $0.119 low value, the ZKUSD price experienced a price retracement to a $0.127 high mark below the EMA-50 as the 4-hourly chart commences today, resulting in an intraday gain for coin buyers.
Thus, a possible breakout from the mentioned supply will accelerate the buying momentum and push the prices of ZKSync higher to hit the previous high at $0.153, bolstering buyers for a sustainable rally.
Additionally, as a result of an upward momentum shown by the price indicator, the price retracement may surge higher to reach the $0.160 upper resistance level sooner in its long-term outlook.
ZKUSD Short-term Trend: Bearish (1H chart)
The ZKSync pair rebounded after its massive drop, and the price retracement will surge higher to the upper channel in its short-term perspective. The price bars are below the moving average, indicating a bearish trend.
The crypto price is below the supply levels in its recent high due to the increasing movement by the bears in the past session.
Today, the ZKUSD price retracement to a $0.153 supply level below the moving average will surge higher as it increases toward the resistance levels, indicating the potential for further rise.
Hence, more actions are required by the bulls to forecast an increase in the price to retest the $0.153 previous mark as the journey up north continues.
Notably, buyers clustering around the market now suggest that the ZKSync price retracement will surge higher. Therefore, we can expect the upward rally to reach the $0.160 trend line soon in its short-term outlook.
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