The cryptocurrency market has displayed increased price volatility this week, highlighting an increase in the buying-and-selling pressure in the crypto space. Moreover, top tokens have successfully retested their important support levels, indicating a potential bullish price action in the coming time.
On the other hand, mid-cap and low-cap altcoins have recorded the highest gains, indicating a rising interest of investors in these crypto tokens. Planning on investing in low-cap undervalued altcoins for the upcoming bull rally?
Dive in as, in this article, we have covered the top 3 altcoins that are currently trading at massive discounts from their respective ATHs but have strong long-term fundamentals.
Mdex (MDX):
Built on the HECO chain and launched in January 2021, the Mdex project is an Automated Market Making (AMM) exchange protocol. It is decentralized and works on the concept of fund pools. Notably, it uses a dual chain and can also operate on the Ethereum network.
Notably, the MDX price has surged 129.91% within a day and 132.05% over the past week. This highlights increased bullish sentiment for the altcoin. Further, with a market cap of $75.215 Million, it has secured the 410th position.
The technical indicators, SMA and RSI have recorded a sharp rise, indicating an increase in the buying-over-selling pressure in the crypto space.
Moreover, the Mdex price is currently trading at a discount of over 99% from its previous ATH of $10.06, and with strong fundamentals, this altcoin may record a massive price surge during the coming time.
Renzo (REZ):
Renzo is a Liquid Staking token and strategy manager on EigenLayer and is built on the Ethereum chain. By offering a higher yield than ETH staking, it is the interface to the EigenLayer ecosystem and securing AVSs.
With a trading price of $0.0658, a circulating supply of 1.15 Billion, and a total supply of 10 Billion, the Renzo price has secured the 409th position with a market capitalization of $76.430 Million.
The SMA indicator displays a bullish convergence in the 1D time frame, indicating a strong bullish outlook in the crypto market. The MACD has recorded a constant rise in the green histogram with its averages showing a positive crossover. This indicates a positive outlook for the REZ price.
Horizen (ZEN):
A zero-knowledge network-enabled blockchain powered by the largest node infrastructure in the industry, the Horizen project is very unique. Its interoperability is enabled by the Zendoo protocol. Horizon’s native token “ZEN” is a mineable P-o-W coin and is listed on all major exchanges.
The ZEN price continues to trade under a bullish price action by adding 14.91% to its portfolio within the past day and 23.15% over the past week. Furthermore, it has surged 53.62% over the past 30 days and has recorded a Year-to-Date (YTD) return of 31.52%.
With a trading price of $11.35, a circulating supply of 15,204,481 tokens, and a maximum supply of 21 Million tokens, it has successfully secured the 237th position in the global crypto-list with a market cap of $179.56 Million.
If the market continues to trade under a bullish sentiment, the Horizen price will prepare to head toward its all-time high (ATH) during the upcoming months. However, bearish price action could pull the ZEN coin price toward its low of $7.85.