Zcash’s rebound aims for a fresh record high, as the MACD signals renewed bullish momentum.
Altcoins such as Official Trump (TRUMP), Pump.fun (PUMP) and Zcash (ZEC) have outperformed the broader cryptocurrency market over the last 24 hours, posting double-digit gains. The breakout rally in TRUMP eyes further gains while PUMP and ZEC aim to surpass overhead resistances to extend the bullish trend.
Official Trump token targets the $10 mark
The Official Trump token edges higher by over 2% at press time on Thursday, extending the 15% gains from Wednesday. The official meme coin of the US President Donald Trump breaks out of a falling channel pattern on the daily chart, aiming for the R1 Pivot Point at $8.973.
If TRUMP exceeds this level, the next key resistance is at the 200-day Exponential Moving Average (EMA) at $9.913 and the R2 Pivot Point at $10.577.
The Moving Average Convergence Divergence (MACD) crosses above the zero line as the signal line follows, indicating that the bullish momentum is increasing.
Additionally, the Relative Strength Index (RSI) at 71 is in the overbought zone, suggesting intense buying pressure. Typically, RSI levels above 80 indicate unsustainable buying force, leading to a bearish reversal.
On the flip side, the 50-day EMA at $7.214 remains a key support for TRUMP.
Pump.fun recovery faces a key resistance trendline
Pump.fun holds steady above $0.005200 at the time of writing on Thursday, sustaining the 13% gains from the previous day. The launchpad token is inching closer to a local resistance trendline at $0.005835, formed by connecting the September 14 and September 18 peaks.
A successful push above this level could result in a breakout rally to the R1 Pivot Point at $0.008871.
The MACD and signal line continue to trend upward following Friday’s crossover, suggesting a steady rise in bullish momentum. At the same time, the RSI is at 57, above the halfway line, with further room for growth before hitting the overbought zone.
If PUMP reverses from $0.005835, it could retest the 50-day EMA at $0.004816.
Zcash bounces back, aiming to surpass $400
Zcash trades above $350 at press time on Thursday, following the 11% rise on the previous day. The privacy coin aims for its record high of $374, marked on Monday, near the overhead ascending resistance trendline on the 4-hour chart, at $390.
If ZEC crosses above $390, it could extend the rally above $400 milestone, potentially targeting the R2 Pivot Point at $436.
The MACD is poised to cross above the signal line, signaling renewed bullish momentum. Moreover, the RSI is at 65, maintaining a steady upward trend, indicating sustained buying pressure.
If ZEC fails to hold above $350, it could extend the decline to the 50-period EMA at $304.
