If we look at the past, the market usually fluctuates greatly in the three months after the Bitcoin halving! In previous years, cryptocurrencies have skyrocketed in the US election! There are many good news in the second half of this year. The US election will take place on November 5 this year, and the crypto market will definitely perform well before and after this! Therefore, we should not be affected by the current sluggish market, but choose high-quality projects with potential to buy at low prices! Do the market for the second half of the election!

Yesterday, we defined this upward breakthrough as a rebound rather than a reversal. It can also be understood as an oversold rebound after a long-term decline. Judging from the strength of the rebound, the bulls are not strong enough to reverse the trend. From a structural point of view, both Bitcoin and Ethereum have rebounded upward in 4 hours. So in the short and medium term, we should focus on when this upward rebound will end. As mentioned before, the end of this period is an opportunity to reduce positions in the medium and long term, and it will continue to search for the bottom in the 4-hour downward period. Whether the upward period ends is determined by the trend type of the sub-level 30-minute level corresponding to the 4-hour level.

In fact, this rebound is all due to the positive news of the launch of Ethereum ETF, so how should we look at the future market? Before the Ethereum spot ETF was officially launched on July 8, the short-term trend before the 8th was oscillating upward. If it was not passed, it was expected to be positive. The positive situation will be short-term correction, and smart funds will leave the market, including the selling pressure of 10 billion Ethereum held by Grayscale. It will fluctuate and correct for about one or two weeks and then go up. In the last two rounds of bull markets, July closed mainly positive, and September was the main rising wave. In addition, CZ returned within four weeks, and the negative news of the Mentougou incident on July 15 was resolved. From a technical point of view, as long as the price does not fall below 3409, the market will continue to rise to around 3600-3700. Let's wait for the good news to land!

Potential altcoins worth paying attention to now

RNDR

RNDR has a strong bullish momentum but has been stuck in a parallel channel for the past 4 months. The price has failed to break above the $12 mark. In May, RNDR price came close to the $12 mark twice but failed to sustain. In the third attempt, the swing did not even reach the last swing high, which shows strong sellers. This led to bearish momentum as the price fell to the support level.

Currently, Render is trading at $7.6, down about 1.16% intraday. The market cap is $2.94 billion, with a 24-hour trading volume of $132.75 million. The circulating supply is 388,650,384 RNDR, and the fully diluted market cap is $4.04 billion.

RNDR Price Struggles in Top Parallel Channel; Breakout Failed?

On the daily timeframe, the Render cryptocurrency price is struggling within a top parallel channel. At the time of writing, the price has fallen below the 200-day EMA and found support at the major support level of $7.

If RNDR price breaks below the 200-day EMA and sustains, sellers may turn strong. Below the major support, larger-scale profit-taking may occur, which may trigger bearish momentum. Alternatively, a move above the 200-day EMA may lead to a bullish trend as bulls may show confidence in the demand area. If the trading volume increases in this case, the price may rise to the $12 mark in the coming weeks.

Looking at technical indicators, the RSI is struggling below 45, reflecting neutral momentum. The MACD has formed a golden cross with the signal line and the histogram has flipped to green.

Will RNDR price reach double digits soon?

RNDR price is testing major support levels, and it is unclear whether it will revisit the $12 mark anytime soon. Traders and investors should closely monitor volume and price action to gauge the market’s potential direction. The hidden bullish divergence on the price chart is an interesting development, and if history repeats itself, prices could surge significantly higher.

3 cryptocurrencies to watch right now: MANTA, STRK, and ZK

Manta Network (MANTA) focuses on privacy-preserving decentralized finance (DeFi) solutions, offering a compelling value proposition in an era when privacy issues are of paramount importance.

zkSync (ZK) excels with its zero-knowledge proofs, improving scalability and transaction efficiency, which are critical to the expanding blockchain ecosystem.

Starknet (STRK) has attracted attention for its advanced rollup technology, which aims to increase Ethereum’s scalability and reduce transaction costs.

These top players have strong technology infrastructure and strategic vision, presenting exciting opportunities for investors.

Manta Network Crypto Overview

Manta Network (MANTA) demonstrates great potential and fundamental strength based on a variety of key metrics. The project scored 8.72 out of 10 for value creation potential and utility.

MANTA received an impressive score of 9.96 out of 10 for development activities, community engagement, online presence, innovation potential and responsiveness to user needs.

In terms of liquidity and financial sustainability, MANTA received a score of 7.24 out of 10. This rating indicates that it is in good financial condition and has a good liquidity position, which is essential for the continued operation and stability of the project.

Overall, Manta Network has an average score of 7.49 out of 10, making it a worthy investment option.

Starknet Crypto Overview

StarkNet received a score of 8.26 out of 10 after evaluating its distribution, utility, and security measures to assess its potential value creation and fundamental strength.

STRK’s innovation potential and ability to meet user needs received a score of 9.25 out of 10. The project’s liquidity and market visibility, measured by trading volume, market capitalization, investor trust, and financial stability, received a score of 4.63 out of 10.

Examine the project's long-term goals, implementation strategies, and how they align with market trends to assess its future feasibility and likelihood of success. This project scored 5.64 out of 10.

Overall, StarkNet achieved an average score of 6.36.

ZK Cryptography Overview

ZKSync received impressive ratings across all evaluation criteria, making it a strong contender in the cryptocurrency space. The project received a score of 9.35 out of 10 for its roadmap and timeline, demonstrating a well-structured and clear strategic vision.

In terms of stability and growth potential, ZKSync’s ability to adapt to market conditions and price fluctuations scored 7.73 out of 10, indicating strong adaptability and long-term growth potential.

The project’s engagement in development activity, social community, and online presence was particularly noteworthy, earning a high score of 9.50 out of 10. This demonstrates strong community engagement and an active online presence, which are critical to continued growth and innovation.

Overall, despite its relatively short existence in the cryptocurrency space, ZKSync received an average score of 8.27 out of 10, which indicates strong performance and great potential. This makes it a project that investors may want to consider adding to their portfolios.