Last week concluded with a downturn in the cryptocurrency market, largely due to a crash that occurred on Black Friday. This significant drop, instigated by escalating tariff tensions between the U.S. and China, erased more than $20 billion in leveraged positions. Despite the widespread panic and liquidation in the market, several U.S.-based cryptocurrencies have demonstrated resilience and even seen a rise in investor interest. Here are three American-made coins to monitor during the third week of October as the market seeks recovery.
Horizen (ZEN)
ZEN, the token associated with Horizen, a blockchain platform emphasizing privacy through its zero-knowledge (ZK) proof technology, is exhibiting notable strength despite the ongoing market fluctuations. As of the latest updates, ZEN is trading at $14.37, reflecting an increase of nearly 15% since the market crash on Friday.
Analysis from ZEN’s daily chart reveals positive momentum, as indicated by the Moving Average Convergence Divergence (MACD) indicator. Currently, the MACD line (in blue) is positioned above the signal line (in orange), suggesting a bullish crossover trend. The MACD is a tool that traders utilize to detect changes in an asset’s price movement and trend strength. A crossover where the MACD line rises above the signal line indicates that buying pressure is exceeding selling activity. On the other hand, if the MACD line dips below the signal line, it hints at waning momentum and the potential for a price drop.
For ZEN, the existing MACD configuration indicates that buyers are firmly in control, and the upward trend could persist, especially if trading volumes increase. Should this scenario play out, ZEN’s price might surpass the $15 mark. However, if profit-taking occurs, the token could retreat to around $13.124.
Basic Attention Token (BAT)
BAT, the utility token for the Brave Browser, is experiencing a resurgence in interest among traders. Although BAT suffered a 23% decline during Friday’s market crash, it has rebounded significantly by 63% and is currently trading at an eight-month high of $0.2102.
The daily chart for BAT indicates that this surge has propelled the token’s price above its 20-day Exponential Moving Average (EMA), which is currently providing dynamic support at $0.1572. The 20-day EMA reflects an asset’s price over the preceding 20 trading days, with more recent prices holding greater weight. When a cryptocurrency trades above this critical moving average, it signals strong bullish momentum, indicating a likelihood of continued upward movement.
If BAT’s positive trend persists, its price could potentially rise to $0.2324.
SUPRA
SUPRA serves as the native token for Supra, recognized as the first blockchain designed for automated decentralized finance (DeFi). After experiencing a 10% dip in price on Friday, SUPRA has steadily increased, marking it as another U.S.-based cryptocurrency to keep an eye on this week.
Looking at the daily chart for SUPRA, the Chaikin Money Flow (CMF) indicator shows an upward trend, having surpassed the zero line, which indicates heightened capital flow into the asset. The CMF assesses the movement of money in and out of an asset; a value above zero signals dominant buying pressure, while a dip below zero suggests increasing selling momentum.
The rising CMF for SUPRA suggests a positive shift toward net inflows and growing accumulation among traders. If this trend continues, SUPRA’s price could reach approximately $0.002786 in the upcoming sessions. However, should profit-taking become more prevalent or overall market sentiment deteriorate, the token might retrace to around $0.002130.
