Key points:
- Lighter (LIT) and Zcash (ZEC) and Rain (RAIN) all broke through highs not reached for months this week.
- The three coins touched the 1.272 extension Fibonacci level and are now targeting the 1.618 level.
- The broken highs turned into initial support levels for the weekend.
Table of the main levels:
| Coin | Current Price | Next Resistance | Breakout Target | Downside Support |
|---|---|---|---|---|
| Lighter (LIT) | ~3.39$ | 3.79$ | 3.98$ | 3.30$ then 2.76$ |
| Zcash (ZEC) | ~807$ | 903$ | 1099$ | 749.65$ then 628.63$ |
| Rain (RAIN) | ~0.01766$ | 0.01948$ | 0.02214$ | 0.01624$ then 0.01420$ |
Lighter (LIT): It is trading near $3.46 with a market cap of $865 million, after rising by about 25% over the week and 57% over the month. It broke above the $2.76 level on August 21 (first time since January), following an adjustment to the tokenomics in July that included a permanent reduction to supply. The first support is at $2.76, and deeper support is at $2.00.
Zcash (ZEC): It is trading near $806 with a market cap of $13.6 billion, after rising by about 75% over 30 days. It broke above the $749.65 level and reached $903.47 before pulling back slightly. It remains far below its all-time high of $3,191.93 (October 2016). Grayscale recently launched an investment product that tracks ZEC, providing a fundamental support for the move.
Rain (RAIN): It is trading near $0.01763 with a market cap of $12.35 billion, after setting an all-time high of $0.019464 on August 25. It built a tight accumulation base between $0.0121 and $0.0130 in early to mid-August before breaking out. Structural risks: the circulating supply is about 709 billion coins out of a maximum of 1.15 trillion, meaning future unlocks could weigh on the price.
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Note: This is a technical analysis of the markets and is not investment advice.