TOP 3 altcoins with prominent trends today - August 5

MemeCore (M) is standing out amid the strong recovery wave of the crypto market, recording a breakthrough increase of 25% in just the past 24 hours. Following closely behind are Mantle (MNT) and Litecoin (LTC), with recovery rates of 16% and 10%, respectively. Technically, MemeCore is currently approaching the overbought zone, posing short term adjustment risks, while Mantle and Litecoin are expected by analysts to soon break through important resistance levels, opening up new growth potential.

The rise of MemeCore faces overbought risks

As of the time of writing this article on Tuesday, MemeCore has adjusted slightly down by over 2%, following an impressive breakout of 31% in the previous trading session. This uptrend has helped the price surpass the 23.6% Fibonacci level, corresponding to the mark of $0.5430, opening up the opportunity to advance to the next target at the 50% Fibonacci retracement level of $0.7968.

However, investors should be cautious, as the relative strength index (RSI) on the 4-hour timeframe has risen to 84 - a zone indicating that the market is entering an overbought state, posing a potential risk of a sudden reversal of buying pressure.

M/USDT chart on the 4-hour timeframe | Source: TradingViewOn a positive note, the MACD indicator still maintains a clear bullish signal, with the signal line reflecting that buying momentum continues to be reinforced.

However, if the price unexpectedly falls below the threshold of $0.5430, the correction trend may be triggered again, with the nearest support zone located at $0.5000.

Mantle aims for a breakthrough as momentum picks up again

Mantle is witnessing an impressive bounce back on the daily chart, with a surge of 19% on Monday – following a 3% climb from the previous Sunday. However, by the current time on Tuesday, the price of MNT has slightly adjusted, decreasing by 2% and trading below the 50% Fibonacci zone at $0.8856, established from the peak of $1.41 ( on June 10, ) down to the bottom of $0.55 ( on July 1, ).

A notable technical signal is the appearance of a golden cross between the two Exponential Moving Average (EMA) 50-day and 100-day – often seen as an indication that the short-term upward trend is surpassing the medium-term trend, reinforcing confidence in the bounce back.

MNT/USDT daily chart | Source: TradingViewMomentum indicators are also reinforcing the positive outlook: the RSI has risen to 60 and still has room to expand, while the MACD line has just officially crossed above the signal line – a familiar bullish signal for technical analysts.

However, if the trend reverses, the nearest important support zone may be at the 200-day EMA around the $0.75 mark – where it could serve as a crucial testing point for the bulls.

Litecoin reaches a 5-month peak, aiming for the target of $146

Litecoin continued to rise nearly 2% on Tuesday, following a breakout of nearly 10% in the first trading session of the week. This strong bounce back has pushed LTC to its highest level since March 3, surpassing the important technical resistance at $122 – corresponding to the Fibonacci level of 78.6%, calculated from the peak of $146 ( on January 5, ) down to the low of $63 ( on July 4, ).

If the closing price can remain stable above the $122 mark, this will be a reinforcing signal for the uptrend, opening up the possibility of advancing towards the $147 peak. Notably, the MACD indicator is also approaching the crossover point with the signal line – a sign often regarded by analysts as an additional buy signal.

Daily chart of LTC/USDT | Source: TradingViewHowever, investors need to be cautious as the RSI indicator on the daily chart has reached the threshold of 70 – a warning level for overbought zone. This means there is a possibility of profit-taking pressure appearing, which may cause prices to adjust in the short term.

In the opposite scenario, if Litecoin cannot break through the upper resistance level, the entire recent upward momentum risks being erased, and the price may return to test the important support zone around the Fibonacci 61.8% level at $106.

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