The ongoing October rally in the crypto market has hit a major roadblock as the leading cryptocurrency Bitcoin struggles to surpass the $35,000 level. This newfound supply pressure has injected a dose of uncertainty among traders, manifesting in either minor retracements or sideways movements across the board. However, defying this indecisiveness, a few tokens have projected the highest growth this week, indicating they also have better potential to prolong a higher recovery if the market sentiment improves.
Also Read: AI Crypto Tokens OCEAN, INJ, FET Skyrocket As Bitcoin Price Rally Wanes
Pepe Price Analysis: Health Retracement Hints a Rally to $0.0000014
Over the past fortnight, the Pepe coin price has executed a remarkable rally, soaring from a monthly support of $0.0000006 to an apex of $0.00000136, marking a 122.95% surge. This upward motion shattered key resistance zones at $0.00000084 and $0.0000014 on robust trading volumes, demonstrating investor confidence in the asset’s long-term trajectory.
However, the coin is currently undergoing a minor pullback to $0.00000115 due to an increase in border market supply pressure. The Fibonacci Retracement levels suggest immediate support at $0.00000105, corresponding with the 38.2% FIB level, and another at $0.000001, aligned with the 50% retracement level, which may reignite bullish momentum.
Injective Price Analysis: Bullish Pattern Sets 18.5% Rally Ahead
The Injective coin price has experienced a meteoric ascent since the third week of October, catapulting from $7.3 to $14.09—a staggering 92.6% uptick. This rally featured a decisive breakout from the neckline resistance of an inverted head and shoulder pattern, defying the general market’s cautious sentiment.
Today, the coin has further extended its gains by 5% on solid volume. Given its adherence to this bullish reversal pattern, we can anticipate an additional 18.5% rally toward a prospective target of $16.6.
Mina Price Analysis: Can Buyers Regain $1 Mark?
On October 24, the Mina coin price saw a strong surge of buying pressure, skyrocketing by 107% to touch the $0.96 price point. Subsequently, the coin experienced a pullback amidst broader market uncertainties, currently trading around $0.6.
According to Fibonacci retracement metrics, the Mina price is hovering just above the crucial 61.8% Fib level, offering buyers suitable support to recuperate the bullish momentum. Should the coin maintain this support level, it could set the stage for a renewed rally, possibly retesting the $0.96 or even the $1 threshold.