ZK - dip buying or just catching a falling knife? L2 names are still in the spotlight, but according to the market the latest headlines are more about unlocks and profit taking than fresh hype, and you can see it in this bleed. Today we got a violent wick down and instant bounce, classic “stop hunt in a downtrend” behavior.
On the 4H chart price is still locked in a clean down channel, trading under the broken support around 0.020 - now my main resistance. RSI just ripped from oversold back to mid range and volume spiked on that wick, which for me screams relief rally, not trend change. I might be wrong, but I still see any bounce into the high volume node around 0.0205-0.0215 as a place where sellers are waiting.
My base plan: look for exhaustion signs in that 0.0205-0.0215 zone and build a short, targeting first the recent low near 0.018 and, if momentum stays heavy, extension toward 0.016 ✅. If buyers somehow reclaim 0.022 on a strong 4H close, I scrap the short idea and then a squeeze toward the next supply around 0.024+ opens up. For now I’m flat and waiting for price to come to my level, not the other way around.