ZKsync [ZK] remained one of the few tokens to gain more than 10% as the cryptocurrency market regrouped after recent declines.
Its bullish performance coincided with a NextBridge partnership, expected to bring Prividium, its self-governed private ledger for institutions, to Japan.
Even so, the rally faced a test. AMBCrypto analyzed trader activity and found reasons to question whether ZK could sustain its upward movement.
Could ZKsync’s rally face a pullback?
The Bollinger Bands chart showed ZK reaching the upper band, where its advance faced resistance. The indicator plots three bands around price. Its outer bands can help identify potential resistance and support, depending on market conditions.
Previous approaches to the upper band had preceded declines. This time, a red candlestick suggested selling pressure had started to emerge.
If the pullback continues, ZK could approach the blue middle band at $0.0125, near horizontal support at $0.0124. That puts the $0.0124–$0.0125 zone in focus as a potential landing point.
Further selling could push ZK toward the lower band around $0.011, making it another potential support area.
Can ZK bulls defend the next support?
Despite the emerging pullback, Bull Bear Power (BBP) suggested bulls retained the upper hand. The chart recorded consecutive positive green bars on the 9th and 10th of October, supporting the bullish momentum reading.
The Parabolic Stop and Reverse (SAR) offered a similar outlook, with dots positioned below ZK’s price.
That positioning supported the prevailing upward trend, even as the red candlestick signaled near-term selling pressure. Taken together, these indicators leave room for a rebound if ZK retreats toward the middle band.
For bulls, holding the nearby $0.0124 support could help keep that recovery scenario alive.
What does ZKsync’s record holder count suggest?
Meanwhile, ZK’s price gains coincided with an increase in its Holder Count. The number reached approximately 186,820, marking an all-time high. The upward trend had developed since mid-September.
The growing Holder Count supported the adoption picture, although it did not establish how much those addresses bought.
ZK therefore faced competing signals: resistance near the upper band, bullish trend indicators, and a growing holder base. A pullback toward $0.0124–$0.0125 could test whether that bullish momentum translates into buyers defending support.
Final Summary
- ZKsync gained more than 10%, but upper-band resistance left a pullback toward $0.0124–$0.0125 in play.
- Bullish indicators and a record Holder Count supported the recovery outlook, with support holding key to a rebound.
