Today’s Update
As of February 1, 2026, ZK (the token for ZKsync, a layer-2 scaling solution for Ethereum) trades at $0.03. It surged +12.66% in the last 24 hours, with high volume of $171 million—showing strong trader interest despite Bitcoin’s -5.42% drop to $78,487. Think of this as a QUICK rebound, like a ball bouncing off the floor after falling.
What the Numbers Mean
ZK remains in a downtrend (prices making lower highs/lows over time), trading below its key EMAs (Exponential Moving Averages, smoothed price trends: EMA20 at $0.0286, EMA50 $0.0314, EMA200 $0.0457). RSI (14) at 42.63 signals neutral momentum—not oversold (below 30) or overbought (above 70). MACD (a trend-following indicator) is bearish with a negative histogram, like brakes on upward speed. Volatility (ATR 0.0032) is moderate; price hugs the lower Bollinger Band (volatility ‘rubber bands’), hinting at potential squeeze.
Key Levels
Supports (floors where buyers may step in): Strong S1 at $0.0265 (-0.38% away). Deeper: $0.0200. Resistances (ceilings): R1 $0.0274 (+3%). Multi-timeframe (daily/weekly) adds confluence, like multiple roads converging.
The Context You Need
Bitcoin’s bearish Supertrend pressures altcoins like ZK. No major news, but high volume suggests short-term optimism amid broader caution. Fibonacci levels (from recent swings) show upside potential to $0.0448, but crash risks to $0.0023 if supports break.
What to Understand
For newcomers: Trends matter more than one-day pops—ZK needs to reclaim EMAs for bullish shift. Watch BTC; its downtrend often drags alts. Use supports for entry ideas, resistances for exits. This empowers you to read charts like a pro, but always DYOR—not financial advice. (248 words)
Source: https://en.coinotag.com/zk-market-brief-february-1-2026
