## ZKP Faces Selling Pressure as Altcoin Market Struggles to Find Bottom

ZkPass ($ZKP) continues to navigate turbulent market conditions, trading around $0.13 following recent volatility. While the 24-hour performance shows a recovery of 5.38%, the broader picture reveals underlying weakness, with the token down 5.21% over the past week. The altcoin sector remains under considerable pressure, marked by depressed sentiment indicators and reduced market participation.

**The Cascade of Selling Pressure**

Since its December 19 debut, ZKP has encountered significant headwinds, accumulating losses that reflect broader altcoin market dynamics rather than isolated project concerns. The recent airdrop distribution triggered substantial profit-taking among early recipients, compounding existing selling pressure. Technical indicators underscore the severity of the downturn—altcoin RSI readings have hit historic lows, signaling extreme oversold conditions across the sector.

**Market Fear and Technical Support**

The crypto fear index sits at 24, reflecting investor sentiment that remains deeply pessimistic. This pervasive fear environment has created a cascading effect, with altcoins bearing the brunt of capital reallocation toward perceived safer assets. From a technical standpoint, the $0.135 level represents a critical support zone for ZKP. Should this floor hold, analysts suggest the recent decline could be reframed as a natural market correction within a healthy price discovery process.

**Altcoin Season Under Pressure**

The broader altcoin weakness isn't unique to ZKP but rather symptomatic of a market-wide challenge. With risk sentiment severely dampened, alternative tokens typically offer higher volatility but currently face liquidation cascades and reduced speculative interest. The question for market participants remains whether current levels represent a tactical opportunity or the beginning of a longer structural downturn.