This ZKSwap Technical Analysis 2021 is based on the study of technical indicators. Below, we have outlined the key factors that contributed to our ZKS price analysis.
ZKSwap is a token swap protocol based on Automated Market Maker (AMM). It uses ZK-Rollup technology to realize the full set of Uniswap functions in Layer-2, providing unlimited scalability and privacy at the same time. It offers swap infrastructure and transactions with ultra-high throughput as well as zero gas fees to liquidity providers and traders alike.
Particularly, ZKSwap uses ZK-Rollups technology to complete and carry out the exchange logic of traditional decentralized exchanges on Layer-2. This reduces users’ transaction costs and also ensures the overall transaction experience.
ZKSwap has its own native coin, called ZKS. As such, the cryptocurrency reached an all-time high of $9.81 on 25th February 2021. Since then, the currency has taken a dip, but is gradually recovering.
What Makes ZKS Different From Other Cryptocurrencies?
ZKS is one of the newest digital assets in the crypto space that provides great features using blockchain technology. Furthermore, these features that the network possesses make ZKS advantageous against other digital assets.
Some of its best features are:
0 Gas Fee: Instead of generating gas fees from transactions like traditional Dex, where gas fee continues to increase as Ethereum price rises, ZKSwap transactions on Layer-2 require zero gas fees. This reduces transaction costs for users greatly.
High TPS (Transaction Per Second): Traditional Dex suffer from bottlenecks in transaction numbers and capacity per second, limited by Ethereum’s slow TPS. ZKSwap on the other hand can conduct hundreds and thousands of transactions per second through the trustless method. While having enough machines to support expansion, ZKSwap’s TPS can theoretically reach 6,000.
Real-time transaction: Users do not need to wait for the confirmation time of a block. All transactions on ZKSwap are transferred to Layer-2 and are valid for real-time transactions.
Now that we have got to know the details of ZKS, do you think ZKS will be a profitable crypto in 2021? Let’s see in this ZKS technical price analysis.
ZKS Current Market Position
ZKS is one of the active and most talked about digital assets in the crypto space. For this reason, the crypto ranks as one of the top 200 cryptos in CoinGecko.
In terms of market capitalization, the crypto has over $600 million with an average daily trading volume of $50 million. Indeed, this is a decent market standing favored by the investors globally.
ZKSwap (ZKS) Technical Analysis 2021
ZKS is one of the new cryptocurrencies in 2021 that continues to maintain its uptrend position against the volatility of the crypto market.
Do you think this is enough to encourage more investors to join and put investment in the network? Are you already interested to know? Therefore, join me in this ZKS technical analysis.
As depicted in the graph above, ZKS manages to maintain its position above the Arnaud Legoux Moving Averages (ALMA), a bullish indicator. Today, ZKS trades at a high price of $3.34 per crypto, a decent price standing. It also has a growth rate of +8.5% in the past 14 days.
if this bullish trend continues, ZKS may have the chance to reach and break the resistance level of $4.3. If it does, the gate towards the bullish price of over $5 will open. In this case, ZKS along with the bulls may have the chance to pump its price and touch the skyrocketing price of $6. Of course, this will be possible if the bullish market continues to favor the crypto.
Meanwhile, the relative strength index (RSI) of the crypto is pointing at level 48.5, a neutral level. In other words, ZKS is neither oversold or overbought. In this way, traders and investors can trade with confidence without worrying about any major price reversal.
In conclusion, ZKS continues to move in an uptrend position based on its performance in the past months. If this keeps on, ZKS may have the chance to pump its price up to $10 before the end of the year. Also, with the bullish trend that the crypto market is experiencing right now, we can say that ZKS might have a big shot in achieving its goal.
The ZKS token is available at Coinbene, Huobi Global, Bilaxy and MXC to name some.
ZKS is one of the active and potential tokens this year. If ZKS continues this trend, there is a big chance that ZKS might increase its market cap along with its market price.
ZKS might have a big chance to hit the skyrocketing price of $10 if more investors will continue to join the network.