Altcoin Scanner: Looking into TAO, SNX, ZEC, USELESS, SPX

Disclaimer: This analysis is for informational purposes only and not financial advice.

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TLDR:

• TAO: Bounces 50% off lows; eyes resistance at $450, upside targets $555, $640, $760.
• SNX: Breaks long-term trendline, back in $1.44-$3.51 range, resistance at $2.5.
• ZEC: Huge 600% run, halted at $299; watch $245 (resistance) and supports at $226, $192.
• USELESS: Bounces to ATH at $0.42; next target $0.69 on Cup & Handle breakout.
• SPX: Sitting on support at $1.17; bounce targets $1.5/$2, next support $0.93-$0.96.

TAO:

• Bittensor treasury firm TAO Synergies secured $11 million in private financing.
• TAO is up +50% since Sunday, one of the strongest post-crash bounces.
• Support area around $360, resistance at $450.
• Bullish momentum above $450 can target $555, $640, $760.

TAO's Open Interest (by USD value):

Technical analysis

• TAO’s bounce signals strong dip buying post-crash.
• Holding above $450 could confirm trend reversal for higher push.
• Failure at resistance zones risks deeper retrace toward $360 or below.

Cryptonary's take

TAO’s quick recovery and new funding suggests strong underlying demand; staying above support levels keeps bulls in control.

• Next Support: $360
• Next Resistance: $450
• Direction: Bullish
• Upside Target: $555/$640/$760
• Downside Target: $360

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SNX:

• SNX saw a strong bounce after Friday’s crash.
• Now in its accumulation range $1.44-$3.51 and broke a 1.5-year downtrend.
• Key resistance and "must reclaim" level is $2.5 (mid-range and on 200-Week EMA + SMA).
• Opportunities arise at retests of $1.44 or closes above $2.5.

SNX's Open Interest (by USD value):

Technical analysis

• Break of longstanding trendline is a major bullish trigger.
• Accumulation range boundaries are critical for validating move.
• Immediate upside is capped at $2.5; range lows at $1.44 remain key support.

Cryptonary's take

SNX's bounce and trendline break could set the stage for a prolonged rally if $2.5 is taken back convincingly.

• Next Support: $1.44
• Next Resistance: $2.5
• Direction: Bullish
• Upside Target: $3.51
• Downside Target: $1.44

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ZEC:

• ZEC mounted a strong bounce from Friday’s lows, following a recent explosive 600% run.
• Now halted at $299 resistance; $245 is a key level that could act as resistance.
• Supports to watch: $226 (12h Orderblock), $192 (Weekly level).
• Reclaiming $245 opens the door for further upside continuation.

ZEC's Open Interest (by USD value):

Technical analysis

• Massive upside momentum, but overextended after 600% rally.
• $299 acts as significant resistance; failure opens risk of retracement to $226/$192.
• Watch for reclaim of $245 to reestablish bullish bias.

Cryptonary's take

ZEC remains high-beta and high-reward, but volatility is spiking; key supports must hold to justify extension.

• Next Support: $226/$192
• Next Resistance: $245/$299
• Direction: Bullish above $245
• Upside Target: $299+
• Downside Target: $192

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USELESS:

• USELESS corrects into Orderblock at $0.15, then surges post-crash.
• Now retests ATH at $0.42 and the range top.
• Opportunities: mid-range $0.30 or Daily Orderblock at $0.27.
• Break above $0.42 (ATH) targets $0.69 (Cup & Handle target).

USELESS's Open Interest (by USD value):

Technical analysis

• Very strong resilience after falling wedge/triangle formation.
• Initial upside capped at ATH; higher targets if breakout holds.
• Key supports at $0.27, $0.15; invalidation below these.

Cryptonary's take

USELESS is showing leader-like momentum, but be wary of blowoff risk near ATH breakouts.

• Next Support: $0.30/$0.27/$0.15
• Next Resistance: $0.42
• Direction: Bullish
• Upside Target: $0.69
• Downside Target: $0.27/$0.15

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SPX:

• SPX currently sits at support and 200-Day EMA+SMA around $1.17.
• Potential bounce targets $1.5 and $2.
• Next support if breakdown: $0.93-$0.96.

SPX's Open Interest (by USD value):

Technical analysis

• Major confluence support tested at $1.17.
• Bounce could quickly target $1.5, then $2.
• Breakdown leads to $0.93-$0.96 zone.

Cryptonary's take

SPX remains a gauge for risk appetite; holding this support renews bullish momentum for risk-on assets.

• Next Support: $1.17/$0.93-$0.96
• Next Resistance: $1.5/$2
• Direction: Neutral
• Upside Target: $1.5/$2
• Downside Target: $0.93

Here is the comprehensive video analysis for more details. Enjoy!