zkSync Market Overview (2025-08-26)

• ZKUSDT declined 6.9% over the past 24 hours, breaking below key support at $0.062 after a brief rebound attempt.
• MACD and RSI confirmed bearish momentum with a bearish crossover on MACD and RSI entering oversold territory at 28.
• Volatility expanded significantly, with Bollinger Bands widening after a period of consolidation earlier in the session.
• A bearish engulfing pattern formed at $0.0634–$0.0621, reinforcing the downward bias as price failed to retest the upper band.
• Turnover surged to $106.5M during the early ET sell-off, indicating large-scale liquidation of long positions.

ZKUSDT opened at $0.06328 (12:00 ET − 1) and traded between $0.06389 and $0.0605 before closing at $0.06185 at 12:00 ET. The pair experienced a total volume of 60.2 million zkSync tokens and a notional turnover of $106.5M over the 24-hour period. The price action reveals a clear bearish bias, driven by strong selling pressure during the early ET hours and limited follow-through buying during a late afternoon rebound.

Structure & Formations

Price broke below the $0.062 level, a key support that had previously acted as a magnet for short-covering and rebounds. A bearish engulfing pattern formed at $0.0634–$0.0621, suggesting exhaustion in the bullish side. A doji appeared near $0.0605, signaling indecision and potential for a near-term bounce. Resistance appears to be forming around $0.0625–$0.063, with strong volume clustering in that range.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended lower throughout the session, confirming bearish momentum. The daily chart shows ZKUSDT well below all three major moving averages (50, 100, 200), reinforcing the long-term bearish bias and lack of institutional buying interest in the short term.

MACD & RSI

MACD turned bearish with a crossover below the signal line, indicating strengthening bear momentum. RSI dropped to 28, a classic oversold reading, though without a corresponding rebound in price, suggesting continued selling pressure. Traders may watch for a potential bounce above $0.06185 to signal a short-term reversal in the 15-minute timeframe.

Bollinger Bands

Bollinger Bands widened significantly as volatility increased, particularly during the early ET sell-off. Price closed near the lower band, which has been a recurring floor over the past week. A rebound above the middle band could trigger a temporary rally, but the bearish bias remains intact as long as price stays below the upper band.

Volume & Turnover

Volume spiked to $17.3M during the early ET sell-off, indicating aggressive liquidation of long positions. Turnover has diverged from price at the end of the session, with lower volume on the rebound attempt, which could indicate a lack of conviction in the bullish side. A follow-through sell-off on increased volume would likely trigger a test of the next support at $0.0605.

Fibonacci Retracements

Recent 15-minute swings indicate that the 38.2% Fibonacci retracement level is near $0.062, and the 61.8% level is at $0.0625. These levels have already acted as pivots and may continue to be relevant in the next 24 hours. On the daily chart, the 38.2% retracement of the broader downtrend is around $0.0623, which is also in play as a potential near-term resistance.

ZKUSDT may consolidate near the $0.0615–$0.062 range in the next 24 hours as short-term traders seek entry points, but the broader downtrend remains intact unless a strong bullish catalyst emerges. A break below $0.0605 could accelerate the decline, so investors should remain cautious.