Market Overview for ZKsync/Bitcoin (ZKBTC) as of 2025-11-10 12:00 ET

Summary
• ZKBTC consolidated near 5.7e-07, with a 0.17% price range between 5.3e-07 and 6.3e-07.
• Price tested key levels multiple times, showing no decisive breakouts.
• Volatility dipped mid-day before a sharp spike during the final 4 hours.
• Turnover and volume aligned during late ET hours, reinforcing price action.
• Momentum oscillated around mid-range, with no overbought/oversold signals.

Opening Narration

ZKsync/Bitcoin (ZKBTC) opened at 5.8e-07 on 2025-11-09 12:00 ET, reached a high of 6.3e-07, and closed at 5.7e-07 by 2025-11-10 12:00 ET. The 24-hour volume amounted to 893,653.2 units, and total turnover was $521.6. The pair appears to consolidate within a narrow range, showing no strong directional bias.

Structure & Formations

ZKBTC formed several small-range candles, especially between 22:00 ET and 04:00 ET, indicating a pause in momentum. A bullish engulfing pattern emerged at 07:45 ET, breaking a prior resistance. However, a bearish rejection at 5.8e-07 occurred later in the morning, suggesting a potential overhead ceiling. A doji candle at 09:15 ET indicated indecision around 6.1e-07, a key psychological level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages remained closely aligned, indicating a neutral bias. On the daily chart, the 50-period MA sits above the 100 and 200-period MAs, suggesting that ZKBTC is in a flat consolidation phase.

MACD & RSI

MACD remained flat throughout most of the session, with a minor positive divergence appearing near 05:00 ET. RSI oscillated between 40 and 55, indicating that ZKBTC is trading in a neutral zone, with no signs of overbought or oversold conditions.

Bollinger Bands

Price remained tightly within the Bollinger Bands for most of the session, with volatility expanding near 07:00 ET and again around 08:45 ET. These expansions coincided with larger-volume trades and a push toward the upper band.

Volume & Turnover

Volume spiked dramatically during the 07:45–08:45 ET window, coinciding with the price rising from 5.8e-07 to 6.3e-07. Turnover surged by nearly 300% during this period, confirming the move. Later in the session, volume dropped back to average levels, while price retracted to the mid-range.

Fibonacci Retracements

Key retracement levels were tested at 5.8e-07 (38.2%) and 6.1e-07 (61.8%). Both levels saw price rejection, especially during the 09:00–11:00 ET period. On the daily chart, Fibonacci levels suggest a continuation of the consolidation pattern unless a breakout above 6.3e-07 occurs.

Backtest Hypothesis

For a potential RSI-based backtest using ZKBTC, we could employ a strategy that goes long when RSI falls below 30 and exits when it rises above 70. However, the absence of reliable RSI data for ZKBTC limits this approach at the moment. If the data source is corrected or a file provided, we could identify overbought dates and test a buy-on-signal / sell-next-day strategy. This method would help quantify the pair's short-term momentum potential in a live environment.