- PENGU, ALGO, and MNT show strong volume-backed uptrends with key support intact
- ENA consolidates near support, needs resistance retest to reignite bullish momentum
- CFX faces selling pressure, risks further drop if $0.224 resistance remains unbroken
The crypto market is flashing green today, with a handful of large-cap altcoins posting impressive gains. To find out which of these rallies have real strength behind them, here’s a closer look at the top five performers, Pudgy Penguins (PENGU), Ethena (ENA), Conflux (CFX), Algorand (ALGO), and Mantle (MNT), revealing a clear split.
The Leaders: PENGU, ALGO, and MNT Show Real Strength
PENGU, priced at $0.03728, led with a notable 5.18% daily gain. What’s more compelling is the high trading volume up 45.53% to $790 million.
The price formed a bullish intraday structure with higher lows, showing buyers remained in control. As long as it stays above $0.036, momentum could push it past the $0.0388 resistance level. A clear breakout there may open the door for new highs in the short term.
What about the narratives? PENGU’s rally is part of a bigger story. Here’s our past report analyzing the top market narratives, including memecoins, RWA, and AI.
Similarly, ALGO posted a sharp 7.93% increase, finishing the day near its high at $0.2655. A massive 235% spike in trading volume suggests this isn’t just a one-off move.
Besides, the asset showed a textbook uptrend with higher highs and strong support levels around $0.255. Should volume persist, ALGO might challenge the $0.270 level and potentially aim for $0.280.
Mantle (MNT) saw the strongest move of the day with a 12.1% surge to $1.04. After peaking near $1.11, the price stabilized without losing gains, indicating steady buying interest.
Holding above $1.00 now a strong support keeps the bullish structure alive. A breakout over $1.11 could fuel a rally toward $1.15 or even $1.20.
ENA Consolidates While CFX Struggles
Ethena (ENA) saw a modest 1.04% rise to $0.6169. Despite starting strong, it hit resistance around $0.655 before retracing. The price now hovers near support at $0.610.
While the DeFi token shows healthy fundamentals, including a $9.95B TVL, it needs to retest $0.640–$0.655 to regain upside momentum.
On the other hand, Conflux (CFX) struggled, dropping 2.25% to $0.2178. The chart shows lower highs and steady selling pressure. Unless CFX reclaims the $0.224–$0.225 range, it risks breaking below $0.215 and continuing its downtrend.
Looking for more? Today’s list is about large-caps, but the memecoin market is also heating up. Here’s CoinEdition’s list of 5 to watch; all under $1.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
