zkSync surged 11% in the last 24 hours, delivering a sharp price increase for the layer‑2 scaling protocol that leverages zero‑knowledge technology.
Investor Sentiment
Investors are piling into zkSync, with 75% of the 53,700 traders surveyed by CoinMarketCap expressing bullish expectations. The poll indicates that market participants anticipate continued upward momentum for the crypto asset. This strong confidence reflects growing interest in privacy‑focused blockchain solutions.
Technical Structure
Price action places zkSync inside an ascending channel defined by parallel support and resistance lines, according to TradingView data. The asset has also entered a supply order block highlighted in blue, a zone where sell orders typically accumulate. When both the channel and the supply zone align, they often precede a rapid price correction.
Potential Risks
Analysts warn that the current bullish pattern may mask an impending decline, as the chart structure remains fundamentally bearish. A breach of the ascending channel’s lower boundary could trigger a sharp pullback toward the channel’s origin. Investors should monitor the supply zone closely for signs of accelerating sell pressure.