ZKP fell 11.3% this week to $0.0827, with trading prices below all moving averages, and the RSI is at 28.7, indicating oversold conditions.
Smart money flow: short positions account for up to 79%, and 96% of shorts are profitable, which has triggered a high risk of short squeeze above $0.0910.
Whale divergence: the derivatives market shows significant selling, while on-chain data indicates that whales are systematically building positions through small orders.
Support level observation: the key support level is at $0.0820; if this level is broken, it may trigger a chain reaction of declines, and trading volume indicates weak institutional interest.
The technical weakness continues
Price trend: ZKP trading price is 0.0827 USD, with a weekly decline of 11.3%, currently testing short-term support at 0.0820 USD, while the resistance level at 0.0850 USD remains solid.
Technical indicators: RSI is at 28.7 (oversold), MACD is still negative; the price remains below the 7-day, 25-day, and 99-day exponential moving averages, further confirming the bearish trend.
Capital flow: A net outflow of $18,300 occurred in the past hour, with no large buy orders, indicating persistent selling pressure and a lack of effective support in the market.
The short position is extremely high
Position allocation: Short positions dominate the market with a 79% share, and the long-short ratio has dropped to 0.26, reflecting an increasing bearish sentiment among traders.
Profit risk: 96% of short positions