zkSync price is on a three-day gaining streak and has reclaimed the bullish territory. The bulls made a strong comeback from the lower levels as the price made an impressive run of nearly 21% a week. 
Earlier, ZK price noted a sharp rejection from the record highs of $0.309 and slumped shifting short term trend towards bearish side. The weakness in the broader market added more to worse and thus falling towards a record low of $0.131. 
The bulls made a strong comeback amid the broader market recovery in the last couple of weeks. The price surged nearly 30% and entered positive territory above $0.187. Now, what’s next for zkSync, will it continue to rise or suffer from the CMP? Read on to find out. 
<h2 class="wp-block-heading" id="h-zksync-still-37-lower-from-ath">zkSync Still 37% Lower From ATH</h2> 
Despite gaining over 30% in the last couple of weeks, zkSync price is nearly 37% below it’s all time high. At the time of writing, <a href="https://www.thecoinrepublic.com/2024/07/13/is-zksync-zk-preparing-to-break-past-its-all-time-high-again/">ZK was close to $0.197</a>, recording a positive development of nearly 3.7% intraday. <iframe loading="lazy" title="Santiment Chart: Price (ZK), Volume (ZK), Price (ZK) MA(50), Price (ZK) MA(200)" width="800" height="425" src="https://embed.santiment.net/chart?ps=zksync&amp;pt=ZK&amp;df=2024-06-20T18%3A30%3A01.401Z&amp;dt=2024-07-21T18%3A29%3A59.401Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd%3B%5B2%3Bprice_usd%3BMA50%5D%3B%5B2%3Bprice_usd%3BMA200%5D&amp;wax=0%3B1&amp;wc=%2333bd5d%3B%23D2D6E7%3B%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B%3B%3B" scrolling="no"></iframe> 
Moreover, the recent sessions showed a rise in demand that could fuel the price further. The transaction volume has surged by 35.98% as per Coinmarketcap. 
Daily transaction volume has surged to $173.9 Million intraday indicating heightened demand. Additionally, the volume to market cap ratio was 24.03%, suggesting a high volatility.&nbsp; 
zkSync is a Layer-2 protocol designed to enhance Ethereum’s scalability using advanced zero-knowledge (ZK) technology. Apart from boosting Ethereum’s throughput, It aims to uphold the core principles of freedom, self-sovereignty, and decentralization at scale. 
<h2 class="wp-block-heading" id="h-will-zksync-continue-to-soar-higher-or-decline-again">Will zkSync Continue to Soar Higher or Decline Again?</h2> 
The last couple of weeks showed a strong recovery, reaffirming investor confidence. ZK surged nearly 30% from $0.14 to $0.18.  
<a href="https://in.tradingview.com/chart/ZKUSD/QjT9KbsK-zkSync-Price-Analysis-Can-ZK-Reclaim-All-Time-High-This-Month/"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/"> </a> &nbsp; <a href="https://in.tradingview.com/"> </a>  
Increased transaction volume and volatility points to a bullish continuation in the short term. As per the analysts, ZK may continue to form a higher-low pattern on the chart and may reclaim the $0.30 level as an all-time-high. 
The price hovering above the 20 day EMA indicates investors have a positive outlook. Also, the RSI at 58.4 and above the SMA line at 44.5 suggests that a positive trend is prevailing. Additionally a bullish divergence was observed on the chart,validating the trend. 
<h3 class="wp-block-heading" id="h-can-zksync-reclaim-ath">Can zkSync Reclaim ATH?</h3> 
zkSync price surged over the past three days, reclaiming bullish territory with a 21% weekly gain. After a sharp drop from $0.309, the recent demand drove the price up by 30% to $0.18. Additionally, the transaction volume increased by 35.98%, reaching $173.9 Million daily, indicating strong demand.&nbsp; 
Furthermore, analysts suggest a bullish continuation, with the price potentially reaching its all-time high of $0.30. The price is above the 20-day EMA, and RSI at 58.4 supports a positive trend, with bullish divergence observed on the charts. 
The post <a href="https://www.thecoinrepublic.com/2024/07/21/zksync-price-analysis-can-zk-reclaim-all-time-high-this-month/">zkSync Price Analysis: Can ZK Reclaim All Time High This Month?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

zkSync Price Analysis: Can ZK Reclaim All Time High This Month?

Table of Contents

Thecoinrepublic.com

Άλλα άρθρα που δημοσιεύτηκαν στις 22 Ιουλ 2024

Ethereum ETF Trading Coming Soon With Effective Documents Expected To Launch Today

Spot Solana ETF approvals – Closer than you think?

Metaplanet Discloses Additional Purchase Of 20.38 BTC

Singapore commits $74.3M for quantum and AI in finance

Phantom Arena: Revolutionizing the GameFi Space with Top-Tier Partnerships and Unmatched Engagement

Toncoin Decreases More Than 3% Within 24 hours

Join our free newsletter for daily crypto updates!