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

Egyéb ezen a dátumon (2024. júl. 22.) megosztott cikkek

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

Spot Solana ETF approvals – Closer than you think?

Raydium Integrates MoonPay for Instant Solana Access

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!