Crypto market sinks, but these altcoins are bucking the trend
The crypto market is down sharply today, but a few alts are defying the sell-off.
- ICP price broke past key resistance at $4.45–$4.70 after a volume-backed breakout from a descending triangle; 4H trend remains bullish with higher highs and higher lows.
- ZEC is trading within an ascending channel, supported by the 55 EMA near $375. However, momentum is slowing as volatility begins to weaken at each retest of the channel’s upper boundary.
- DASH is testing key resistance near $150 after a strong weekly uptrend. While RSI shows overbought conditions, trend remains intact.
The crypto market is bleeding today, with Bitcoin (BTC) down 3% and Ethereum (ETH) sliding 5% over the past 24 hours, while many altcoins are posting double-digit losses. However, some altcoins are bucking the trend — ICP, ZEC, and DASH continue to ride strong uptrends, showing notable resilience amid the broader market downturn.
ICP
Internet Computer (ICP) price has blasted past the $4.45–$4.70 historical zone, which had been capping upside momentum before the October 10 flash crash.
The breakout from this zone — though not yet confirmed on the daily timeframe as the current daily candle still needs to close above it — follows a volume-backed breakout from a descending triangle pattern, which coincided with a bullish crossover between the 21 EMA and the 55 EMA on November 1.
Typically, descending triangles resolve to the downside, especially in bearish market contexts. However, in this case, ICP’s upside breakout defies the typical bearish expectation. On the 4H timeframe, the trend remains firmly bullish, with price action maintaining a clear sequence of higher highs and higher lows, with the latest major swing low forming around $3.60.
For continuation, ICP price needs to flip the previous swing high at $4.30 into support. Even if price dips lower, as long as it remains above the $3.60 swing low, the bullish sequence of higher highs and higher lows stays intact. Holding the 21 EMA as dynamic support would further strengthen the bullish case.
ZEC
Zcash (ZEC) price has been trading within a well-defined ascending channel and the price is currently edging closer to the upper boundary of this channel, consolidating just below it on the 4H timeframe. The trend is supported by the 55 EMA, which continues to act as a reliable dynamic support currently near $375.
However, volatility is weakening, with the BBWP indicator currently around 60% — noticeably lower than during the previous tests of the channel’s upper boundary.
As long as ZEC continues to trade within the ascending channel and holds above the 55 EMA, the broader trend remains firmly bullish. However, the sustained drop in volatility suggests that the trend may be maturing, with price action becoming more measured rather than impulsive.
