Traders Turn Bullish as Tokenomics Proposal Boosts Sentiment

• ZKsync regains bullish momentum after reclaiming major Fibonacci retracement levels
• Rising derivatives activity signals growing trader confidence in ZKsync’s recovery
• Tokenomics shift toward revenue-linked buybacks boosts long-term utility prospects

ZKsync has entered a strong recovery phase following months of downward pressure, with technical signals suggesting sustained upward momentum. The token has recently rebounded from its October lows near $0.012, climbing above several critical Fibonacci levels and showing renewed interest from traders across major exchanges. The combination of technical recovery, growing derivatives activity, and an evolving utility roadmap appears to be strengthening confidence in ZKsync’s mid-term outlook.

Strong Rebound Above Key Fibonacci Levels

The 4-hour chart shows that ZKsync has successfully reclaimed the 0.618 Fibonacci retracement at $0.05 and advanced beyond the 0.786 level at $0.07. The price now trades near $0.073 after an intraday gain of 2.56%. 

Immediate support is clustered between $0.063 and $0.060, where the 20- and 50-EMA lines intersect. Maintaining this range is essential for preserving bullish structure. A breakdown could test $0.046, coinciding with the 100-EMA. However, sustained trading above $0.06 may provide the foundation for another leg upward.

Resistance remains between $0.081 and $0.084, aligning with the upper Bollinger Band. A confirmed 4-hour close above $0.084 could propel the token toward $0.10, marking a complete Fibonacci recovery from its October decline.

Derivatives Surge Reflects Rising Market Confidence

ZKsync’s open interest has risen to $63.8 million, up 25% in the past 24 hours, signaling expanding speculative activity. Binance currently leads with $24.7 million in open positions, followed by Bybit and OKX. The majority of this volume stems from perpetual contracts, reflecting growing trader conviction in short-term price action.

This increase in open interest corresponds with broader optimism about ZKsync’s network upgrades and token utility transition. The market share of zkSync’s derivatives now accounts for roughly 0.1% of total crypto open interest, indicating gradual but steady adoption among leveraged traders.

Tokenomics Evolution: From Governance to Utility

Beyond market performance, zkSync’s next growth phase may hinge on its shifting tokenomics model. Matter Labs CEO Alex Gluchowski recently unveiled a framework aimed at linking network revenue directly to the ZK token economy. Under this plan, revenue from interoperability fees and institutional licensing will be used to buy back ZK tokens.

Consequently, these repurchased tokens will be allocated toward burns, staking rewards, and developer grants. Moreover, the recently approved TPP-12 proposal paves the way for a pilot staking program, allowing holders to earn rewards for network participation. This marks a transition from a governance-driven model to one focused on sustainable economic utility.

Technical Outlook for ZKsync Price

Key levels remain clearly defined heading into November. On the upside, ZKsync faces immediate resistance at $0.081 and $0.084, marking the upper Bollinger Band and recent local top. A decisive breakout and sustained close above $0.084 could confirm renewed bullish momentum, potentially extending gains toward the $0.095–$0.10 psychological zone.

On the downside, initial support sits between $0.063 and $0.060, coinciding with the 20- and 50-EMA cluster. Losing this level may expose the 0.5 Fibonacci retracement near $0.046, where the 100-EMA currently aligns. Further weakness could see prices retesting the previous breakout zone around $0.036–$0.04.

ZKsync’s technical picture suggests the token is consolidating after a strong rebound, forming a potential continuation pattern within an ascending channel. The moving averages are gradually turning upward, hinting at a short-term bullish bias. However, momentum near the $0.08 level appears stretched, leaving room for brief corrective moves before any sustained rally.

Will ZKsync Extend Its Rally?

ZKsync’s price outlook hinges on whether bulls can maintain control above the $0.06–$0.063 range, which remains the structural pivot. Holding this zone could keep the recovery path intact and set the stage for a retest of $0.084 and, eventually, the $0.10 mark.

If buying pressure strengthens alongside the upcoming staking rollout, volatility could expand in favor of the bulls. However, a drop below $0.05 would invalidate the bullish structure and shift sentiment back to a neutral consolidation phase. For now, ZKsync remains in a crucial zone, where conviction from traders and confirmation from technical levels will determine the next major move.