KEY TAKEAWAYS
ZK surged over 70% after the Ethereum co-founder praised the project.
Despite a drop, the BBP and Supertrend indicators remain positive.
Holding above $0.049 could lead ZK to a breakout toward $0.075.
It started like a crypto fairytale as Ethereum co-founder Vitalik Buterin praised ZKsync.
Instantly, the token took off. But the story didn’t end with a happy moonshot.
After a 70% surge some days ago, the ZK token gave some of it back, falling victim to the ‘buy-the-rumor, sell-the-news’ dynamics.
At the time of writing, the ZKsync price has decreased by 32.80%. Here is a breakdown of all that led to the pump, dump, and what’s next for ZK’s price.
Vitalik’s Post Sent ZKsync Flying
Last Friday, the ZK token traded at $0.029. A day later, Alex Gluchowski, co-inventor of the ZKsync technology, posted that Ethereum had become the central capital hub for ZKsync
“This completely changes the L2/L1 dynamics. Every token and market anchored to Ethereum becomes accessible liquidity for ZKsync chains in real time at institutional settlement standards,” Gluchowski declared.
The real momentum, however, came when Vitalik Buterin quoted Gluchowski’s post, publicly praising the project.
“ZKsync has been doing a lot of underrated and valuable work in the Ethereum ecosystem. Excited to see this come from them!” The Ethereum co-founder stated.
Following Buterin’s endorsement, ZK’s price broke out of a descending channel and, on the 4-hour chart, formed nine consecutive green candlesticks, rallying sharply to $0.0068.
Since then, the token has retraced slightly, with ZK now trading at around $0.049 at the time of writing. This seems like a typical cooldown phase after an accelerated rally.
Things Have Changed
As shown on the 4-hour chart, ZKsync’s price decline has resulted in the formation of a bullish pennant.
This setup suggests that the market may be consolidating before the next leg higher, provided buying momentum returns.
Meanwhile, the Awesome Oscillator (AO) has flashed red histogram bars, signaling a short-term cooling of momentum.
However, since the AO reading remains positive, it suggests that bullish pressure remains dominant overall.
If this balance holds, the ZK token could break out of the pennant formation and attempt to retest the $0.055 resistance.
ZK Price Prediction: Recovery Soon?
On the daily chart, the Bull Bear Power (BBP) has remained positive, signaling that buying strength continues to outweigh selling pressure.
At the same time, the green line of the Supertrend indicator sits below ZKsync’s price, reinforcing the bullish bias.
If this setup holds, ZK’s price could breach resistance at $0.063, potentially triggering a run toward $0.075 as momentum builds.
Sustained capital inflows and a strong close above resistance would further confirm this breakout scenario.
However, if the Awesome Oscillator (AO) flips into negative territory, it could invalidate the bullish structure, leading to a retest of support around $0.041.
In a highly bearish case, continued selling could push ZK’s price down to $0.033 before any meaningful recovery.
