Lokesh Gupta
18-06-2024
$ZK, a Layer-2 Ethereum scaling solution, has seen a significant price decline amid a market correction.
#ZkSync's daily technical indicators, observed on a 4-hour chart, indicate a notable sell-off.
The $ZK/USD pair started trading on exchanges at $0.2264 and is currently down by 11%.
#ZkSync's price has decreased by over 16% in the past day, resulting in a market cap of $737.52 million.
The 4-hour chart shows a strong sell-off, with the Moving Average Convergence Divergence (MACD) signaling bearish momentum.
According to Coingabbar analysis, Potential bullish scenarios suggest zkSync could rally to $0.2500, exceed $0.4000, and potentially reach $0.5000 in a positive market trend.
In a bearish trend, ZK's price could test support at $0.2000 and potentially drop to $0.1500, indicating a shift in market sentiment.
KEY LEVELS :
RESISTANCE LEVEL : $0.2300-$0.3000
SUPPORT LEVEL : $0.1800-$0.1500
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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