ZKsync (ZK) has become the top-performing crypto token in the past week, currently sitting around $0.07.
By Parth Dubey
Editor Julia Sakovich
Updated
2 mins read
ZKsync ZK $0.0632 24h volatility: 6.6% Market cap: $457.22 M Vol. 24h: $329.51 M has become the week’s top-performing privacy token, soaring 136% in seven days and adding over $350 million to its market cap. The token now ranks as the fifth-largest privacy-focused crypto, trailing only ZCash ZEC $624.4 24h volatility: 17.6% Market cap: $10.39 B Vol. 24h: $2.46 B , Litecoin LTC $87.87 24h volatility: 0.6% Market cap: $6.72 B Vol. 24h: $589.78 M , Monero XMR $360.2 24h volatility: 1.2% Market cap: $6.64 B Vol. 24h: $161.25 M , and Dash DASH $106.4 24h volatility: 17.4% Market cap: $1.34 B Vol. 24h: $983.82 M .
ZK’s stunning price rally from $0.029 to above $0.08 started earlier in November, with the token now consolidating near $0.07 as investors weigh its next move. The surge comes amid renewed interest in privacy-oriented crypto like ZCash (ZEC).
While some traders believe the rally may have peaked, the open interest for the ZK token has seen a major surge recently. This indicates that wallets that exited earlier this quarter are now re-entering the market.
The investor interest comes amid a new token buyback announced by ZKsync founder Alex. The initiative aims at transforming ZK from a purely governance token into one with real economic value.
Under the proposal, all network-generated revenue would be funneled into a governance-controlled treasury. The community would then decide how to allocate the funds, including potential buybacks to reduce supply and increase long-term demand.
The announcement has been widely praised by traders and analysts, who see it as a strategic move to enhance ZK’s long-term sustainability.
On the daily ZK price chart, the Bollinger Bands are widening, reflecting increased volatility. The price remains close to the upper band, a sign of persistent buying pressure but also potential overextension.
If ZK fails to hold above $0.055, it could face a pullback toward $0.045, the next key support zone.
ZK token price chart with RSI and Bollinger Bands | Source: TradingView
The RSI currently indicates mild overbought conditions but still leaving room for another leg higher. If the token manages to break above $0.075, analysts expect a potential move toward $0.09.
ZK token price chart with MACD | Source: TradingView
Meanwhile, the MACD continues to show strong bullish momentum. Histogram bars are widening and the MACD line is trending well above the signal line. The strength suggests that the rally may still continue, making ZK one of the best penny crypto this season.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
