The first week of October began bullishly, with Bitcoin hitting a record high and bringing a brighter atmosphere to the market.
With optimism spreading across the cryptocurrency market, traders and investors are looking at altcoins that could benefit from improved market sentiment. Here are three notable US-made cryptocurrencies that are expected to see a big rise this week.
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Areo
Aleo Network is a privacy-focused Layer 1 (L1) blockchain platform designed to enable developers to build scalable, decentralized applications with zero-knowledge technology.
Its native token, ALEO, has gained momentum in the project amid the major developments of the ecosystem, and is one of the tokens to watch this week.
Paxos Labs and the Aleo Network Foundation recently announced plans to launch USAD, a US dollar fixed stablecoin built on Aleo’s ZK Layer-1 blockchain.
Stablecoins aim to protect users’ privacy while appealing to financial institutions. The announcement has sparked a renewed interest in ALEO, particularly amid growing public interest in privacy tokens.
At the time of writing, the coin is trading at $0.4006, surpassing the 20-day EMA, which forms dynamic support at $0.2643.
20 Day EMA measures the price of assets over the last 20 business days and places more emphasis on recent prices. If assets are traded above this major moving average, there is a strong bullish momentum, suggesting a possible sustained rise.
If this continues, ALEO could rise to $0.4589.
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However, if sentiment weakens, the coin’s price could fall below $0.31.
Zebeck Network (ZBCN)
ZBCN enhances the Decentralized Infrastructure (DePIN) protocol Zebec. Its price has risen 21% in the past week, attracting attention this week among the US-made coins to watch out for.
This surge was partly driven by an unusual no-action letter recently issued by the Securities and Exchange Commission (SEC), confirming that tokens distributed by the DePIN project DoubleZero are outside the scope of federal securities laws.
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The clarification of the SEC has led to a growing renewed interest in DePIN tokens. Investors now see this as the green light for their widespread participation in DePIN assets, and ZBCN has been growing in demand over the past week.
Technical indicators confirm the bullish momentum of the token. On the daily chart, the token’s moving average convergence divergence (MACD) indicator reading indicates that the MACD line (blue) is above the signal line (orange).
This is a bullish setting that confirms the strength of the current upward trend. If demand continues, ZBCN could exceed $0.004746.
Conversely, if profit-taking moves strengthen, it could fall to $0.004168.
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Cello
CELO, a native coin for the carbon negative blockchain, designed to promote financial inclusion, is another US-made coin to watch this week.
The development of the ecosystem that attracted the attention of traders has caused its prices to skyrocket over 65% in the past week.
The recent rise in tokens comes after Celo announced the official launch of the Testnet during the Token2049 conference held in Singapore on October 1. This rollout includes Nightfall, a Layer 3 privacy and scalability solution aimed at enhancing transactional confidentiality across the Celo ecosystem.
If hype about this matter continues to drive this demand, CELO prices could skyrocket towards $0.4904.
Conversely, lower demand and profit-taking can result in tokens below $0.442.
