Today's forecast for the highest rising Crypto Assets: CRO, ZEC, and FLOKI achieve double-digit rise, but long positions find it difficult to maintain the pump.

Layer1 (L1) crypto assets Cronos (CRO) and Zcash (ZEC), along with meme coin Floki (FLOKI), have all recorded double-digit pumps. As of Wednesday (July 9), the 24-hour gains exceeded the overall market. However, as these crypto assets encounter key resistance, the momentum begins to weaken, showing the difficulty of sustaining the rally. With crypto assets at a crossroads, the technical outlook presents mixed signals.

CRO pumps 20% and then takes a break

FXStreet analyst Vishal Dixit stated that as of Wednesday's press release, the price of Cronos has fallen by over 2%, retreating from the level of the 200-day Exponential Moving Average (EMA) at $0.09834. On Tuesday, CRO's price surged by 20%, as Trump Media Technology Group (DJT) included Cronos in its blue-chip exchange-traded fund (ETF).

After consolidating for several days near the support level of 0.080 dollars, the altcoin formed a bullish engulfing candlestick. To continue the pump, CRO's daily closing price must break through the 200-day moving average, with a target price potentially at 0.10649 dollars, which was last tested on June 1.

Technical indicators maintain a bullish trend, the MACD indicator shows that both the MACD and signal lines have peaked and are rising towards the zero line. A new bullish histogram appears near the reference line, indicating a strengthening of momentum.

The Relative Strength Index (RSI) is at 61, slightly below the overbought zone due to intraday pullback. Overall, the RSI remains above the 50% midline, indicating that the market is still in a bullish momentum.

If CRO continues its intraday pullback, it may test the immediate support level of 0.09196 USD.

(Source: Trading View)

ZEC recovery faces critical resistance

As of Wednesday's press release, the ZEC price has slightly declined after rising 12% the previous day. On Tuesday, this L1 privacy coin broke through the 50-day and 200-day moving averages, showing a bullish engulfing candlestick.

However, ZEC struggles to break through the 50% Fibonacci retracement level of $46.66, which retraced from $74.59 on December 2 to $29.19 on March 10. If it decisively breaks through $46.66, the upward trend may continue to the 61.8% Fibonacci retracement level of $52.12.

The RSI is at 55, indicating a bullish price trend as it has surpassed the midpoint level. However, the MACD indicator shows that both the MACD and the signal line are rising towards the zero line.

If ZEC fails to maintain the pump, a closing price below the 200-day EMA of $41.00 may extend the downward trend to $36.42.

(Source: Trading View)

The target for FLOKI's channel breakout is the 200-day EMA

As of Wednesday when this article was written, FLOKI has fallen nearly 0.50%, maintaining the previous day's 11% pump. The meme coin has broken through the resistance level of $0.000008870, continuing the breakout of the downtrend channel, as shown in the figure below.

The target for FLOKI is the 200-day EMA at $0.000009771, and a decisive closing price above this level may aim for the closing price of May 22 at $0.000011229.

Technical indicators show a bullish tendency, as the RSI is at 60, floating above neutral levels, while the MACD indicator shows the moving average crossing into positive territory.

The downside is that if FLOKI breaks below $0.000008870, the downtrend may continue to $0.000008054, which is the 50-day EMA.

(Source: Trading View)