Altcoin Breakouts: LIT, ZEC, RAIN Target Key Levels This Weekend
Altcoin prices are on the move as Lighter (LIT), Zcash (ZEC), and Rain (RAIN) show significant technical breakouts. On August 29, these tokens traded near recent highs, with crypto traders assessing momentum across the market.
LIT broke a multi-month resistance level, reaching the 1.272 Fibonacci extension before targeting the 1.618 extension. Former resistance levels have turned into support zones during this altcoin rally, adding to the token's strength.
The July tokenomics overhaul introduced permanent supply reduction, contributing to LIT's stronger price action. With a current price of $3.39, Lighter has gained roughly 25% over the past week and 57% this month.
Zcash (ZEC) traded near $807 after climbing about 75% in the past 30 days. ZEC broke above $749.65 before meeting resistance around the $903 Fibonacci extension. A sustained move above this level could send Zcash toward $1,099, representing a 37% upside.
Rain (RAIN) traded around $0.01766 after reaching a record high of $0.019464 on August 25. RAIN cleared $0.01624 after building an accumulation base through early and mid-August. A decisive break above $0.01948 could push the token toward the $0.02214 Fibonacci target.