As Bitcoin falls near $80,000 following three consecutive weeks of losses, specific digital assets including MemeCore (M), Ethena (ENA), and Zcash (ZEC) are defying broader market weakness in the final week of October.
- MemeCore (M) surged nearly 44% to $0.97, facing resistance at $0.976 with potential upside to $1.75 or downside risk to $0.75.
- Ethena (ENA) rose nearly 8% to $0.205, defending key support at $0.188 following its October token unlock.
- Zcash (ZEC) gained 7% to reach $1,228, supported by $41.1 million in weekly inflows into Grayscale's Zcash investment product.
MemeCore Rallies 44% While Ethena Compresses
MemeCore (M) has staged a sharp recovery, climbing nearly 44% to trade at $0.97 despite months of broader price declines. The token recently attempted to cross $1 but faced selling pressure right below resistance at $0.976. A confirmed daily close above $0.976 could pave the way toward $1.75, representing roughly 80% upside. Conversely, a rejection could send M down 23% toward its primary support level at $0.75. Its Relative Strength Index (RSI) has returned to neutral, indicating improving momentum while the macro downtrend remains active.
Meanwhile, Ethena (ENA) rose nearly 8% over the past week to $0.205, continuing a sequence of higher lows formed since August. Buyers have repeatedly defended support at $0.188, even after absorbing an October token supply release. Price action is narrowing alongside tightening Bollinger Bands and falling trading volume. A upside breakout could target $0.244, offering approximately 19% potential upside, whereas losing $0.188 support would invalidate the bullish structure.
Zcash Draws $41.1M Inflows Ahead of Breakout Test
Zcash (ZEC) gained 7% this week to trade at $1,228, bolstered by institutional demand. Grayscale's Zcash investment product recorded $41.1 million in weekly inflows, marking its strongest capital intake since mid-September.
Technically, ZEC is attempting to convert $1,234 into support. A daily close above this boundary could spark a 15% rally toward resistance at $1,411. If buyers fail to maintain momentum, ZEC risks a drop back toward main support at $1,091. Similar to ENA, Zcash displays declining trading volume, neutral RSI readings, and contracting Bollinger Bands, signaling that a major volatility expansion may be imminent.
Why It Matters
The selective strength in M, ENA, and ZEC demonstrates that capital is rotating into isolated narratives even as top-tier assets consolidate. Institutional inflows into specialized vehicles like Grayscale's Zcash trust indicate that select altcoins can attract dedicated buyers independent of macro Bitcoin trends. Traders should closely monitor the tight Bollinger Band squeezes on ENA and ZEC, as prolonged periods of low volatility typically precede sharp direction-defining breakouts.
