Altcoin Prediction: Why is SNX, TAO, Mantle and Zcash up today?

Altcoin Recovery Strengthens as Market Sentiment Improves

Cryptocurrency analysts suggest some of the big altcoins are performing remarkably well in recovery. Synthetic (SNX), SXPX TAO, Mantle (MNT), and Zcash (ZEC) are crypto tokens that are on a positive momentum following weeks of mixed sentiment. 

This increase is accompanied by a surge in liquidity and the stabilization of investor confidence after the consistency of Bitcoin above significant psychological levels. The trend is an indication of a shift towards risk assets, where traders are moving funds to mid-cap cryptos with potential rallies.

MNT Signals 4% Recovery

Mantle's recovery from the support at $1.60 shows that buyers are on after a brief consolidation phase. The price has recently gained by more than 4% and it is trading near $1.99, which is a pivotal mid-band resistance as per the Bollinger structure. A breakout from this zone would take the price up to $2.56, while failure could lead to a retest of the $1.42 level. 

MNTUSD 1D CHART | SOURCE: TradingView

Notably, the RSI has reached 51.75, which is an indication of increasing bullishness and that sellers are losing control. If Mantle rallies above $2.00, the momentum could accelerate towards old highs experienced in late summer.

TAO Builds Strong Uptrend

On the same note, TAO has been doing great with an impressive recovery from the $260 lows to about $451. This shift confirms the bulls' dominance as it has gone past the middle Bollinger Band, while it is backed by RSI at 64.43. The token is nearing the resistance level of $470, which, if broken, could lead to the $500 mark. 

TAOUSD 1D CHART | SOURCE: TradingView

Also, the RSI rise is an indication of accumulation as traders anticipate more gains. The market structure remains constructive as long as TAO sits above the level of $430, although a fall below $400 could attract a brief pullback.

ZEC Holds Firm After Correction

Zcash is stabilizing after an early October rally that saw the price near $300. The asset now trades at the zone of $242.27, up about 2.6% on the day. Higher lows suggest accumulation, supported by an RSI of 65.90 and a MACD crossover forming. 

ZECUSD 1D CHART | SOURCE: TradingView

Once the trend continues with a clear move beyond the $265 levels to $300, the market could support the rally, while holding support at $225 would retain the bullish bias. ZEC's recovery is an indication that the coin is approaching its next surge if purchasing volume is maintained.

SNX Rebounds Sharply

Additionally, SNX has shot up 11.99% to approximately $1.74, extending the rebound over several days since hitting lows in October. Momentum indicators suggest that the strength is improving, with MACD close to a bullish crossover and Stochastic RSI currently climbing out of the oversold range. 

SNXUSD 1D CHART | SOURCE: TradingView

A break above $1.85 could lead to a surge toward $2.30, which will strengthen the short-term bullish position. However, the inability to hold on to $1.50 could weaken confidence in the rally.

These recoveries are driven by better technicals and reduced risks in the crypto market. Altcoins such as Mantle, TAO, Zcash, and SNX are regaining ground now that Bitcoin is consolidating near a significant resistance level.