Currently, the price of ZKsync (ZK) is 0.26445 USD. To determine the optimal buying and selling points for ZK, we need to conduct technical analysis and consider related market factors.
Technical Analysis:
• Moving Averages: In the daily timeframe, the 20-day moving average (SMA 20) of ZK is at 0.261 USD, indicating that the current price trend is fluctuating around this level.
• Bollinger Bands: The upper band is at 0.271 USD and the lower band is at 0.252 USD, indicating the current price range.
• Relative Strength Index (RSI): The current RSI is at 66, indicating that the market is approaching overbought territory, which may lead to a price correction in the short term.
Support and Resistance Levels:
• Support: The nearest support level for ZK is around 0.252 USD, which is a price level that ZK has tested multiple times in the past and shows strong buying interest.
• Resistance: The significant resistance level is around 0.271 USD, which is a price level that ZK has struggled to surpass in previous rallies.
Trading Strategy:
• Buy Point: If the price of ZK decreases near the support level of 0.252 USD and there is a bullish reversal signal (such as a reversal candlestick pattern or RSI indicating oversold), this could be a potential buying point.
• Sell Point: If the price of ZK approaches the resistance level of 0.271 USD and there is a bearish reversal signal (such as a reversal candlestick pattern or RSI indicating overbought), this could be a reasonable selling point.
