3 Altcoins to Watch This Week as Bitcoin Struggles Near $80,000
Bitcoin is fighting to hold $80,000 after three consecutive weeks of losses. The broader crypto market remains under pressure as weak investor confidence and volatility in global stocks weigh on prices. Yet a handful of altcoins are moving against the trend.
Three tokens stand out in the last week of October: MemeCore (M), Ethena (ENA), and Zcash (ZEC).
MemeCore has staged a sharp recovery despite its longer-term downtrend. Ethena is approaching a potential breakout, while Zcash is attracting renewed investor interest as its price approaches a critical level.
| Altcoin | Current price | Key support | Key resistance | RSI status | Outlook |
|---|---|---|---|---|---|
| MemeCore (M) | $0.97 | $0.75 | $0.976 / $1.75 | Neutral, improving | Bearish until breakout |
| Ethena (ENA) | $0.205 | $0.188 | $0.244 | Neutral | Cautiously bullish |
| Zcash (ZEC) | $1,228 | $1,091 | $1,234 / $1,411 | Neutral | Cautiously bullish |
MemeCore (M): Can a 44% Rally Reverse Its Downtrend?
MemeCore is one of the week’s biggest gainers, climbing nearly 44% despite months of declining prices. However, the token is approaching a resistance level that could determine whether its recovery continues or fades.
The immediate test: M is trading near $0.97, just below the $0.976 resistance level. A recent attempt to move above $1 met selling pressure, suggesting buyers have yet to regain control.
Bullish scenario: Breaking and holding above $0.976 would strengthen the recovery. If momentum continues, the next major target is $1.75, representing roughly 80% potential upside from current prices.
Bearish scenario: Another rejection could push M toward $0.75, its strongest remaining support. That would represent a decline of around 23%.
The RSI has recovered to a neutral reading, showing improving momentum. However, the broader downtrend remains intact until buyers establish a convincing breakout.
Ethena (ENA): A Major Price Move Could Be Coming
Ethena has gained nearly 8% over the past week while maintaining a pattern of higher lows since August. Its price movements are becoming increasingly narrow, suggesting traders could soon see a larger move.
The immediate test: ENA has repeatedly defended support at $0.188, even after an October token unlock. This suggests buyers remain active near that level.
Bullish scenario: If buyers maintain control, ENA could rise toward $0.244, approximately 19% above its current price.
Bearish scenario: Losing $0.188 would weaken the recovery and raise the risk of further declines.
Trading volume is falling, and Bollinger Bands are tightening. This pattern often appears before a sharp price move, although it does not predict the direction. ENA’s higher lows give buyers a modest advantage for now.
Zcash (ZEC): ETF Demand Meets a Critical Breakout Test
Zcash has gained 7% this week, with renewed institutional interest providing an additional reason to watch the token.
Grayscale’s Zcash investment product reportedly attracted $41.1 million in weekly inflows, its strongest showing since mid-September. Meanwhile, ZEC’s price is approaching a technical level that could determine its next move.
Key price signals and forecast:
The immediate test: ZEC is attempting to reclaim $1,234 as support. A daily close above this level would strengthen the bullish case.
Bullish scenario: A confirmed breakout could open the path toward $1,411, offering nearly 15% potential upside.
Bearish scenario: Failure to hold momentum could send ZEC back toward $1,091. Falling below that support would weaken the recovery significantly.
Like Ethena, Zcash is showing narrowing Bollinger Bands and declining volume. Its RSI remains neutral, leaving the next move uncertain.
For now, the combination of renewed fund inflows and an approaching resistance test makes Zcash one of the more closely watched altcoins this week.
Disclaimer: The content presented above, whether from a third party or not, is considered as general advice only. CFD trading involves significant risk of loss. Past performance does not guarantee future results. This article serves informational purposes only and does not constitute financial advice. Consider your risk tolerance before trading.
