Altcoins Surge As They Rebound From Low Levels

The top-performing cryptocurrencies have returned to the bullish trend zone. ZEC, CAKE, MANTLE, and BNB all have potential for further growth.

However, FLOKI has recovered to 50% above the moving average as buyers halt the decline. Coinidol.com takes a closer look at other cryptocurrencies.

Zcash

Zcash (ZEC) is experiencing a surge. The price is showing a pattern of higher highs and higher lows. The price indicator suggests that the coin will rise further. On 4 October, a retraced candle body approached the 61.8% Fibonacci retracement level. This retracement indicates that ZEC will reach the 1.618 Fibonacci extension, or $253.74.

Meanwhile, ZEC is rising as it approaches its target price. ZEC is the best-performing coin.

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  The current price: $237.91

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  Market capitalization: $3,870,818,812.93

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  Trading volume: $1,225,829,937.04

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  7-day gain: 62.64% 

PancakeSwap

PancakeSwap (CAKE) is rising while moving sideways. On 8 October, the price rose to a high of $4.63 before quickly falling to a low of $3.59. The altcoin has remained above the $3.50 support level. It is also experiencing a trend of higher highs and higher lows. If the current support and 21-day SMA hold, CAKE will return to its previous high of $4.63 and eventually surpass it. CAKE is the second-best-performing cryptocurrency.

Mantle

Mantle (MANTLE) is in a steady uptrend, trading in the bullish trend zone. The altcoin surged to a high of $2.81 before retreating. Buyers were unable to sustain the upward momentum above $2.80, as the altcoin fell to a low of $2.25. MANTLE is rising again, holding above its current support. If the current barrier is breached, the altcoin’s value will rise to $4.00. MANTLE is the third-best-performing cryptocurrency.

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  The current price: $2.35

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  Market capitalization: $7,671,140,308.87

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  Trading volume: $654,093,082.66

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  7–day gain: 18.97 %

Binance Chain Native Token  

BNB is on an upward trend, having reached a high of $1,355. The price rise has stalled at $1,350 as the altcoin enters a sideways trend. The altcoin is currently trading above the $1,200 support but below the $1,350 high. BNB will rise to $1,467 if the current barrier is breached. Today, BNB is increasing as it approaches its $1,350 high. BNB is the fourth most successful altcoin. 

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  The current price: $1,274.76

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  Market capitalization:  $177,425,989,782.64

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  Trading Volume: $7,380,138,614.32

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  7–day gain: 15.28% 

FLOKI

FLOKI (FLOKI) is declining below the 50-day SMA support. The cryptocurrency price is trading below the 50-day SMA barrier but above the 21-day SMA support.

On October 4, the altcoin surged to a high of $0.0001605 before being repulsed. The altcoin has dropped to a low of $0.000090827 but is caught between the moving average lines. The altcoin will trend until it crosses either the 21-day SMA support or the 50-day SMA barrier. FLOKI is the fifth-highest-performing altcoin. Here are some of its features.

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  The current price: $0.00009345

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  Market capitalization: $890,823,263.03

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  Trading volume: $102,563,834.79

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  7–day gain: 5.93%

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.