Market Overview for ZKsync/Bitcoin (ZKBTC) on 2025-10-07

• Price remained stagnant near $0.00000047 throughout most of the day, with only minor spikes observed
• A key breakout attempt occurred at $0.00000048 in the late afternoon, followed by retesting and consolidation
• Volatility remained low with limited volume, suggesting minimal institutional or retail interest
• A bearish rejection pattern formed at $0.00000049 with high volume, indicating resistance at that level
• RSI remained in the mid-40s, suggesting lack of momentum in either direction

The ZKsync/Bitcoin (ZKBTC) pair opened at $0.00000047 on October 6, 2025, and traded within a tight range of $0.00000046 to $0.00000049 over the following 24 hours, closing at $0.00000047 at 12:00 ET. Total trading volume for the period was approximately 1.9 million ZKsync tokens, while notional turnover was $0.90 (BTC). Price consolidation and low volume signal muted market interest.

Structure & Formations

ZKBTC remained in a narrow trading range with limited price discovery. The most notable movement occurred in the late afternoon, when price briefly broke above the $0.00000048 level and attempted a test of $0.00000049. However, this level acted as a strong resistance, with a bearish rejection candle forming after a volume spike. A potential support level appears at $0.00000046, as price tested this level multiple times without breaking below.

Moving Averages

On the 15-minute chart, the 20 and 50-period moving averages remained closely aligned, hovering near $0.00000047. This indicates a flat and range-bound market without clear direction. On the daily chart, the 50, 100, and 200-period MAs are clustered near $0.00000047, reinforcing the consolidation pattern and lack of momentum.

MACD & RSI

The MACD line stayed flat near the signal line, with the histogram oscillating around zero, confirming the lack of directional momentum. RSI remained within the 40–50 range for the majority of the session, suggesting a neutral sentiment with neither overbought nor oversold conditions. This flat momentum profile implies no strong directional bias.

Bollinger Bands

Bollinger Bands displayed a contraction in the early part of the day, followed by a slight expansion in the afternoon. Price briefly touched the upper band during the breakout attempt at $0.00000048, only to retrace and consolidate near the mid-band. The low volatility environment suggests traders are waiting for a catalyst before committing to positions.

Volume & Turnover

Volume remained subdued throughout most of the 24-hour period, with only a few spikes observed near key price levels. The largest volume occurred during the attempted breakout at $0.00000048 and the bearish rejection at $0.00000049. Notional turnover followed a similar pattern, with higher turnover correlating to these price events, suggesting some short-term speculative activity. However, the overall volume profile does not indicate strong conviction in either direction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.00000046 to $0.00000049 shows that price retested the 61.8% level ($0.000000475) and found resistance. The 38.2% level ($0.000000468) served as a minor support zone, but price failed to break higher, reinforcing the bearish rejection at $0.00000049 as a potential near-term ceiling.

Backtest Hypothesis

The backtesting strategy described involves identifying key breakout attempts on the 15-minute chart using a combination of Bollinger Band touches and volume spikes, followed by Fibonacci retests for entry and exit signals. Given the recent attempted breakout at $0.00000048 and the rejection at $0.00000049, a short-term bearish bias may be validated if price fails to retest the 61.8% level. The strategy could potentially be applied at the next attempted test of $0.00000049, using the 50-period MA as a stop-loss reference.