Zksync (ZK/USDT) Approaches Key Support Zones as Selling Pressure Wanes

The market for Zksync against the Tether reflects a market trending to the south since the close of last year, with recent price actions breaking below several support levels. However, the price is currently hovering above a strong support as selling strength reduces.

As it stands, the behavior of the momentum oscillator indicates the pair is oversold with a recent failed bullish crossover attempt. However, the current position of the pair suggests a potential bounce or a short-term relief might be near, as the price action hints at a movement towards the $0.0537 resistance level.