ZkSync Price Drops as Bearish Technicals Take Hold

ZkSync, a trustless Layer 2 protocol for scalable low-cost payments on Ethereum, is trading at Rp165.62 with a bearish technical signal. Moving averages indicate strong selling pressure, and the token is near its pivot point of Rp166.

The immediate support level is at Rp162, while resistance stands at Rp169. With a circulating supply of 10.2M tokens (49% of max supply) and a market cap of Rp1.68T, ZkSync shows moderate distribution.

Despite recent ecosystem news highlighting protocol activity, specific crypto-related developments are limited. The overall outlook is cautious due to bearish technicals and neutral oscillators.