The crypto market started the week well, with Bitcoin and most altcoins rebounding from their lows. This rebound could either be a dead-cat bounce or the start of a new bull run. This article explores some of the top crypto tokens to watch this week, including Zcash (ZEC), Dogecoin (DOGE), and Pi Coin (PI).
Zcash Price in Focus Ahead of OKX Listing
Zcash price has gone parabolic over the past few months, rising from its year-to-date low of $33 to the current $600. This surge occurred as demand for privacy tokens soared and Grayscale launched a new fund tracking them. It also jumped as pros like Arthur Hayes promoted the privacy-focused token.
ZEC’s price will be in the spotlight, as it is listed on OKX, one of the largest crypto exchanges. This listing makes it available to millions of users worldwide.
Still, the most important risk is that the ZEC price is now in the distribution phase of Wyckoff Theory, suggesting more downside in the near term as it moves into the markdown stage.
READ MORE: XRP Price Reaches Pivotal Support as ETFs Near a $500M Milestone
Dogecoin Price in Focus Ahead of DOGE ETF Launches
Dogecoin is another top crypto to watch this week as companies like 21Shares and Grayscale launch their ETFs. These ETFs will join the REX-Osprey DOGE ETF, which was launched a few months ago and now has over $24 million in assets.
The new ETFs will be the first ones to use the Securities Act of 1933, which is the most common. Chances are that these new ETFs will have modest inflows.
The ETF launches are coming as the Dogecoin price sits at a crucial support level at $0.1425, where it has struggled to move below several times this year. A move below this support could lead to more downside in the near term, potentially to the key support at $0.100.
Pi Coin Price in Focus as it Forms Bullish Patterns
The Pi Network price will be in the spotlight this week due to its technicals, as it continues to outperform other coins like Bitcoin and Ethereum.
The daily timeframe chart shows that the Pi Coin price has remained in a tight range in the past few weeks. And like Zcash, there are signs it has moved into the accumulation phase of Wyckoff Theory, suggesting it may soon enter the markup phase.
The Pi Network price has also formed a double bottom pattern, which often signals more upside. Therefore, with whale purchasing continuing, there is a likelihood that the token will rebound later this week or early in December.
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