⚡️ zkSync Facing Resistance? $ZK Needs a Breakthrough Soon 🚧

$ZK has been stuck in a narrow range, struggling to make any significant moves. Currently hovering around $0.107, the token is finding it hard to push past the 99-day moving average, which is sitting at $0.11—a critical resistance zone. The moving averages (SMA 7, 25, and 99) are trending downwards, hinting that the overall momentum is still bearish.

The MACD indicator is flat, showing very little momentum in either direction, which suggests we could be in for more sideways movement or even a slight decline. With volume also declining, the bulls aren't showing enough strength to drive a breakout above the $0.11 mark. If ZK can’t clear this level, we might see a retest of the $0.10 support zone, which could be risky if the selling pressure increases. 📉

However, a breakout above $0.11 could trigger some fresh buying interest, potentially leading to a move toward $0.12 and beyond. But right now, the odds seem stacked against a strong bullish move unless volume picks up significantly.

For now, traders should remain cautious, as the short-term outlook appears weak. If ZK doesn’t gain traction soon, a further drop could be on the horizon. 😬