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The zkSync price surged 9% in the last 24 hours to trade at $0.2230 as of 01:09 a.m. EST on trading volume that plunged 37% to $746 million.
This comes despite the project continuing to face criticism for failing to implement anti-sybil measures for its airdrop. Failing to implement such measures led to some dubious actors using multiple wallets to claim the tokens, analysts said.
After its launch, the zkSync price dropped as over 41% of wallets dumped almost all of their tokens.
However, the token retraced further, forming a double-bottom pattern. The pattern then allowed the bulls to stage a markup phase to the $0.2369 resistance zone, according to data from GeckoTerminal.
However, the bulls have not been able to reclaim this high, with the token dropping within a falling channel, forming what resembles a bullish pennant pattern.
zkSync Price Set To Soar Over The Bullish Pennant
The zkSync price is still bullish, with the token still trading well above the 50-day Simple Moving Average (SMA).
Moreover, the Relative Strength Index (RSI) is also rebounding as it aims to soar over the 50-midline level, currently trading at 49. If the bulls sustain the bullish stance over the bullish pennant pattern, the RSI could soar as it hurtles toward the 70-overbought region.
The general price of zkSync analysis on the 15-minute chart shows a bullish bias, as the bulls aim to push the token toward the upper boundary of the pennant, as they aim at pushing the token toward the $0.2369 resistance level.
However, if the ZK price bears exert more pressure at this level, the bulls may retreat to the support zone around $0.2161, which coincides with the 50-day SMA.
Meanwhile, as the ZK bulls aim to push the price to a bullish rally, other investors are pivoting to an AI meme coin called WienerAI (WAI), a new dog-themed token that merges two of the hottest niches in crypto right now: AI and meme coins.
WienerAI Soars Past $6 Million In Presale – Next 100X Crypto?
WienerAI (WAI) is a new meme coin sensation that has surged past the $6 million milestone in its presale, garnering immense attention within the crypto community.
More Wieners every day – Our WienerAI family is growing fast! 🐾
More holders = More excitement for our launch!
Ready to join the pack? 🌭🚀 pic.twitter.com/TPFpsjLGFX
— WienerAI (@WienerDogAI) June 13, 2024
WienerAI combines the power of artificial intelligence (AI) and blockchain technology to offer a unique trading platform that promises an enhanced trading experience for all users.
That is set to be the role of its trading bot, which uses predictive technology and a user-friendly interface to provide users with advice on when to buy and sell crypto. The trading bot works much like a standard chatbot, dishing out winning trades.
More than just a bot–WienerAI is your ultimate crypto trading companion.
We're delighted to share some sneak peeks with our incredible and supportive community. (1/4) pic.twitter.com/kR8ypeJycj
— WienerAI (@WienerDogAI) June 11, 2024
Token holders can also earn passively by simply staking $WAI for an annual percentage yield (APY) of 190%.
99Bitcoins, a prominent crypto channel on YouTube with more than 700k subscribers, says that $WAI could potentially surge 100X after its launch.
You can be part of the presale by buying WAI tokens for $0.00072 each. But hurry as the price will increase in a little more than two days.
Buy WAI tokens on the official website here using ETH, BNB, USDT, or a bank card.
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