TOP 3 altcoins with outstanding trends today - November 7

Filecoin (FIL), Dash (DASH), and Tezos (XTZ) are becoming the focal point of a strong bounce back in the crypto market, as they all recorded double-digit increases in the past 24 hours.

Leading the bullish wave, Filecoin surged spectacularly with an increase of up to 50%, while Dash bounced back impressively from the 100 USD zone, and Tezos showed positive signals by breaking through the “descending wedge” pattern on the technical chart — opening up prospects for a new upward trend.

Filecoin bounce back, aiming to surpass the 200-day EMA

As of the time of writing on Friday, Filecoin (FIL) continues to maintain its bullish momentum, rising an additional 15% after a strong bounce back of 35% in the previous session. This impressive recovery momentum has helped the price break above the 100-day exponential moving average (EMA), coinciding with the important psychological zone around the $2.00 mark.

Currently, the upward trend of Filecoin is heading towards the resistance line formed by two peaks on February 21 and April 4, located near the 200-day EMA at 2.433 USD. If the price closes firmly above this level, FIL could extend its rally and test the next resistance areas at the Pivot R1 and R2 points, respectively at 2.634 USD and 3.753 USD.

Daily FIL/USDT Chart | Source: TradingViewTechnical indicators on the daily frame reinforce the bullish outlook. The Relative Strength Index (RSI) has sharply bounced back from the oversold territory and risen to 66, indicating a noticeable increase in buying momentum. At the same time, the MACD line also crosses above the signal line and approaches the 0 level – a signal confirming that the bullish trend is being activated.

On the contrary, if FIL cannot break through the resistance area of 2.433 USD and reverses for adjustment, the psychological level of 2.00 USD along with the nearest bottom at 1.270 USD ( established on Tuesday ) will serve as important support levels.

Dash holds steady above 100 USD, bulls target 150 USD

Dash (DASH) continues to maintain an impressive bounce back, currently trading around the 115 USD mark after a strong rebound from the support zone of 100 USD on Thursday with an increase of 8%. At the time of writing, DASH has increased an additional approximately 4% in Friday's session, approaching the Pivot R2 resistance zone on the 4-hour chart at 131 USD.

If the buying power remains strong enough to help DASH break through the 131 USD threshold, the next target could be the peak area of 150 USD established on Tuesday — an important milestone indicating the return of the medium-term upward trend.

The DASH/USDT 4-hour chart | Source: TradingViewTechnically, the MACD line is gradually narrowing the gap with the signal line, indicating the potential for a bullish crossover, reinforcing the bounce back signal. At the same time, the RSI index remains around 56, moving sideways after a pullback from the overbought zone – suggesting that buying pressure has stabilized and the market is regaining balance.

Conversely, if DASH loses the important support level of 96 USD (the peak of Sunday’s session), the downward momentum may extend towards the 100-day EMA around 75 USD, where bulls are likely to re-enter to defend the long-term uptrend.

Tezos accelerates after breaking out of the descending wedge pattern

As of the time of writing on Friday, Tezos (XTZ) is trading at the 0.6000 USD mark, marking the third consecutive increase. This bounce back is reinforced after XTZ confirmed a breakout above the “descending wedge” pattern on the daily chart on Thursday – an important technical signal that opens up the possibility of a trend reversal.

If the closing price remains strong above the peak on October 13 at 0.6605 USD, XTZ may continue to move towards the resistance area Pivot R1 around 0.7617 USD.

Daily XTZ/USDT Chart | Source: TradingViewThe technical indicators are currently supporting the upward trend: the RSI indicator has crossed above the neutral threshold of 50, reaching 55, indicating that buying momentum is increasing; while the MACD continues to expand above the signal line after a bullish crossover on Thursday – an additional signal reinforcing the buying pressure.

On the opposite side, the nearest support level for Tezos is at 0.5541 USD, corresponding to the bottom on October 11, serving as an important defense mark if the price adjusts in the short term.

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