ZKSwap token is a swap protocol based on AMM (Automated Market Maker). It provides high security and scalability for Uniswap functions. Zero gas fees, robust Swap infrastructure, and high liquidity to users are ZKSwap’s unique features.
On March 12, 2021, the opening price of ZKS was $2.63. As of March 18, 2021, the closing price of ZKS was $3.43. Thus, in the past week, the ZKS price has soared by approximately 30%. In the last 24 hours, ZKS has traded within the price range of $3.11-$3.50.
Days-Ahead and Tomorrow
Currently, ZKS is trading at $3.37. The price is down from the opening price of $3.43. Hence, the market doesn’t look very healthy.
The A/D line is tapering down. This implies that distributions are more than accumulations. Thus, the high offloading activity will exert downward pressure on the ZKS price. Hence, we can expect the ZKS price to go down further.
The RSI is currently at 52%. It faced a bearish swing rejection at 64%. Thus, selling pressures are slowly mounting. Thus, we can expect a price pullback.
Both the MACD and signal lines are negative. But a bullish crossover by the MACD line over the signal line points towards a trend reversal. Moreover, both the lines are very close to the zero line and may change signs soon. Thus, we can expect the price to start rising after a temporary price pullback. It also indicates that price adjustments are happening in the ZKS market.
ZKS Price Analysis
Currently, the price is above the Fibonacci pivot point of $3.35. It may fall up to the first support level of $3.19 before resuming its upward journey. By the end of the day, we can expect the price to break out of the first resistance level of $3.49.
The price has tested and broken out of the 23.6% Fibonacci retracement level of $3.40. By day close, we can expect the price to surpass the 23.6% FIB extension level of $3.59, as the market is overall bullish. In that case, the price uptrend is strong enough to continue tomorrow as well.