TOP 3 altcoins with prominent trends today - October 6

The three most notable names in the crypto market over the past 24 hours are SPX6900 (SPX), Mantle (MNT), and Injective (INJ). While SPX and MNT continue to maintain impressive upward momentum with strong drive, INJ is still struggling within a symmetrical triangle pattern, waiting for the breakout moment.

SPX6900 breaks above the downward price channel, the upward momentum is reinforced.

As of the trading session on Monday, SPX6900 (SPX) recorded an increase of nearly 1%, marking a six-session consecutive rise. Notably, this upward momentum not only helped SPX break the descending channel pattern on the daily chart but also triggered a bullish cross signal between the two EMA 50 and EMA 100 lines, indicating that the short-term recovery momentum is becoming stronger.

Currently, SPX is heading towards the Fibonacci extension level of 1.272 at 1,6950 USD, determined from the peak of 1,4804 USD ( to the bottom of 0,9000 USD ) last Tuesday (. If the price decisively breaks above this level, the upward trend may extend to the Fibonacci 1.618 area around 2,0135 USD, opening up new growth potential.

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Technical indicators on the daily frame continue to lean towards the bulls: RSI reaches 66, reflecting that buying pressure still dominates. The MACD line has risen above the 0 threshold, while the signal line is also trending upward, further reinforcing the momentum's bullish run.

On the contrary, if a correction occurs, the level of 1.4804 USD — previously a key resistance — is likely to turn into a strong support zone, helping to maintain the current upward trend.

Mantle continues to break the ceiling, aiming for a new increase

Mantle )MNT( has just set a new historical peak above 2.00 USD, after rising nearly 8% during Sunday’s session. As of now, the MNT price continues to inch up by 1%, approaching the upper resistance zone of the )rising wedge( pattern on the daily timeframe.

Typically, a rising wedge pattern signals a potential bearish reversal. However, if the price can break out and close strongly above 2.15 USD, the bearish signal will be invalidated, opening up new upside potential for MNT.

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On the technical chart, the RSI indicator is currently at 68, oscillating just below the overbought threshold, indicating that the buying pressure remains stable. Meanwhile, the MACD line has crossed above the signal line, reinforcing the upward momentum of the recovery.

However, in the event of a rejection at the resistance zone, MNT may reverse and adjust within the framework of the wedge pattern, with the nearest support area around the 1.85 USD mark.

Injective recovery, touching the 200-day EMA

Injective )INJ( continued a slight increase of 1% on Sunday with a jump of more than 5% on Monday, starting the new week positively. However, the short-term recovery trend is still facing challenges at the 200-day EMA at 13.55 USD.

If INJ can break through the 200-day EMA, the price is likely to move towards testing the upper resistance line of the symmetrical triangle on the daily chart, around the area of 14.20 USD. However, the upward momentum may temporarily stall at the 50% Fibonacci retracement level — around 14.95 USD, measured from the peak of 35.26 USD ) on 6/1/2019 to the bottom of 6.34 USD ( on 7/4/2019.

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The RSI indicator is currently at 52, just above the neutral threshold, indicating that buying pressure is gradually returning to the market. At the same time, the MACD line continues to maintain a stable bullish signal since it formed a positive crossover last Thursday.

On the contrary, if INJ fails to break through the 200-day EMA, the support zone around 11.60 USD will become the next important defensive point.

SN_Nour