These 3 altcoins are showing strength as the market bounces back.

Polygon (POL), DeXe (DEXE) and PancakeSwap (CAKE) are standing out as leading altcoins in the market, benefiting from the strong bounce back of Ethereum (ETH) as this coin reestablishes the $3,700 mark. With an initial platform linked to or developed based on the Ethereum ecosystem, these projects are leveraging the current momentum to accelerate. Technically, the market outlook leans towards a positive scenario, as the upward trend gradually returns and altcoins are preparing to challenge important resistance zones.

POL bounces back, aiming for the mark of $0.2822

As of the time of writing on Thursday, POL has risen over 2%, marking a price increase for the 5th consecutive day. The strong bounce back has helped this altcoin surpass important technical resistance levels, including the 100-day (EMA) and the 23.6% Fibonacci retracement level at $0.2227 — measured from the peak of $0.7685 on December 3 to the bottom of $0.1519 on April 7.

Currently, POL is heading towards the key resistance zone around the 38.2% Fibonacci level at $0.2822, which is close to the 200-day EMA line at $0.2640. If the price can close steadily above this zone, the upward trend will be solidified, opening up the prospect of advancing towards the 50% retracement level at $0.3417.

POL/USDT daily chart | Source: TradingViewTechnical signals are also supporting an uptrend: The MACD indicator is approaching the crossing point above the signal line, indicating the potential for a bullish reversal – a notable buy signal. Meanwhile, the relative strength index (RSI) on the daily frame is at 56, reflecting that buying pressure remains dominant and the upward momentum still has room to continue.

However, if the price turns back down below the $0.2227 mark, the bullish scenario may be invalidated, leading to a potential adjustment to test the 50-day EMA at $0.2167.

DEXE may bounce back in a V-shape

DEXE recorded an impressive breakout as it surpassed the 50-day EMA at the $8.15 mark, rising sharply by 10% during Wednesday's trading session. Notably, by the end of Thursday, this upward momentum remained stable, with no significant price fluctuations recorded.

The nearest resistance level that DEXE is aiming for is $8.93 – corresponding to the closing price on June 3rd. If it successfully breaks through this level decisively, the token could extend its upward trend to the 100-day EMA around $9.64.

The daily chart of DEXE/USDT | Source: TradingViewNotably, the V-shaped reversal pattern after temporarily breaking through the support zone of $7.31 has triggered a strong bullish wave. The RSI index currently stands at 62, approaching the overbought zone, indicating that market momentum is clearly leaning towards the bulls. Additionally, the MACD line and the signal line of the MACD indicator are also converging near the 0 level - a positive signal supporting the upward trend.

However, in a negative reversal scenario, DEXE may extend its correction towards the important support zone at $6.07 – the bottom established on August 5.

CAKE bounce back but faces important resistance

PancakeSwap (CAKE) maintains an upward trend with an increase of nearly 2% as of the time of writing on Thursday, following a strong bounce back of 5% from the (EMA) 50-day moving average. Notably, the token of this DEX platform is establishing a solid upward trend line, extending from the bottom on June 23 to August 3.

The current bounce back is aiming for the important resistance level at $2,829 – which is the key resistance zone established in the first half of 2025. If the buying pressure is strong enough to break through this level, CAKE could extend its rally to the next target zone at $3,165, where strong selling pressure was recorded on July 28.

Daily CAKE/USDT Chart | Source: TradingViewTechnical signals are also supporting a positive trend: the MACD line is gradually approaching the signal line, indicating a high possibility of a bullish cross occurring in the near future. The RSI indicator has also surpassed the neutral threshold of 50, currently standing at 55, indicating that bullish momentum is being strengthened after a prolonged accumulation phase.

However, on the contrary, if profit-taking pressure increases, CAKE may reverse and retest the support line, coinciding with the 50-day EMA around the $2.547 mark – serving as an important technical cushion in the short term.

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