TOP 3 altcoins with prominent trends today - August 8

The cryptocurrency market is shining bright again after President of America Donald Trump signed the Crypto 401k executive order. In this wave of excitement, Pendle (PENDLE), Mantle (MNT), and Aerodrome Finance (AERO) have stood out as the leading names in the surge over the past 24 hours. Current technical signals indicate that a trend reversal is forming in these three altcoins, opening up new growth prospects as buying power continues to increase dramatically.

PENDLE rise to the sky, approaching the highest peak of the year

As of the current time on Friday, Pendle has risen over 2%, extending a strong recovery streak with a total increase of 25% since Thursday. This breakout has pushed the price to its highest level since January 7 and is nearing the highest peak of the year at $5.59.

Daily chart of PENDLE/USDT | Source: TradingViewTechnically, the MACD line has crossed above the signal line in the MACD indicator — an important buy signal indicating that bullish momentum is returning. Meanwhile, the RSI index on the daily timeframe has climbed to 66 and is approaching the overbought zone, reflecting increasing buying pressure.

However, if the price drops below the support level of $4.84, the current upward trend may be invalidated. At that point, it is highly likely that the market will return to test the 50-day EMA, which is currently around the level of $4.10.

MNT breaks out of the wedge pattern, heading towards the mark of $1.41

The recovery of Mantle continues to be strengthened after breaking out of the wedge pattern, as the price approaches the Fibonacci 78.6% level at $1.16 — established from the peak of $1.41 on January 6 to the bottom of $0.55 on July 1. As of the time of writing, MNT has risen more than 4% on the day, following a strong bounce of 20% on Thursday.

If MNT can close steadily above the $1.16 mark, the bullish trend will have a chance to extend, with the next target being to return to the peak area of $1.41.

Daily MNT/USDT Chart | Source: TradingViewTechnical indicators are supporting this trend: the MACD line and the signal line generated a buy signal on Tuesday, while a new series of green histograms continues to appear. Notably, the RSI has surpassed the threshold of 76, entering the overbought zone — indicating that the buying pressure is rising to the sky.

In addition, the 50-day EMA is approaching the 200-day EMA to form a golden cross, after having surpassed the 100-day EMA — a clear sign that the short-term momentum is accelerating.

However, if the price cannot hold above the $1.16 mark and turns around for adjustment, the nearest support zone to watch will be the 61.8% Fibonacci level at $0.99.

AERO signals a rise to the sky in an ascending channel model, the next target is $1

Aerodrome Finance (AERO) continues to maintain a rise to the sky trend in Friday's trading session, extending an impressive breakout of 15% from the previous day. This recovery opens a new positive cycle within the framework of the bullish channel pattern established on the daily chart.

Notably, AERO has just surpassed the 50% Fibonacci retracement level at $0.81 — measured from the peak of $2.33 set on December 12 to the bottom of $0.28 on April 7 — and is currently approaching the 61.8% level at $1.04, an important technical resistance level.

Daily chart of AERO/USDT | Source: TradingViewThe RSI indicator has risen to 56, surpassing the neutral threshold, indicating a significant increase in buying pressure. At the same time, the MACD line is gradually crossing above the signal line, reinforcing the buy signal and suggesting that the bullish momentum may continue.

However, in the adjustment scenario, if AERO loses the $0.81 mark, investors need to closely monitor the important support area at the 100-day EMA, which is currently at $0.75.

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