The crypto market had a volatile week with many coins rising and others crashing. Amongst them were the likes of Maple Finance (SYRUP), which even managed to post a new all-time high.
In light of this fluctuation, BeInCrypto has analyzed three altcoins to watch this weekend, as they appear to be on a trajectory for potential rallies.
Maple Finance (SYRUP)
SYRUP reached a new all-time high of $0.55 this week before pulling back slightly to $0.49. This price point serves as a critical resistance level; successfully breaching it is paramount for continuing the upward trend. Maintaining a price above $0.49 will provide SYRUP with the momentum necessary for further gains.
The current bullish sentiment in the broader market bodes well for SYRUP’s growth. If the altcoin manages to overcome the $0.55 resistance, it could scale further toward the $0.60 mark, fostering new all-time highs.
However, if investor sentiment turns bearish and selling pressure escalates, SYRUP could retreat to the support level of $0.43. A break below this crucial support would invalidate the current bullish outlook, suggesting that upward momentum may have stalled.
Bitcoin Cash (BCH)
BCH is currently trading at $490, reflecting a remarkable uptick of 15.6% over the past week. This altcoin has benefitted significantly from Bitcoin’s recent rally, inching closer to the coveted $500 mark. Investors are closely monitoring this price level as BCH continues to demonstrate resilience following BTC’s performance.
The next critical resistance level for BCH stands at $501, a threshold it hasn’t eclipsed since December 2024. The Ichimoku Cloud indicator indicates robust bullish momentum, suggesting that BCH could potentially shatter this resistance. Should the altcoin successfully breach the $501 resistance, it may continue its ascent toward $529 with further gains on the horizon.
Conversely, if investor sentiment declines and selling pressure mounts, BCH may struggle to penetrate the $501 resistance. In this scenario, the altcoin’s price may retreat to $446, which would invalidate the current bullish forecast. A failure to sustain momentum at this stage could signal a reversal in BCH’s price trajectory in the near term.
Joe Coin (JOE)
JOE has experienced substantial growth this week, soaring by 97% and positioning itself at $0.055. The altcoin is now attempting to establish the $0.050 support level, a pivotal price point for maintaining bullish momentum. This recent surge underscores JOE’s potential for further appreciation.
If JOE can successfully hold the $0.050 support, it may target the next resistance at $0.060. The Parabolic SAR indicator is currently situated below the price candlesticks, signaling an ongoing positive trend. This technical configuration heightens the likelihood of continued upward movement in the coming days, enticing further investor interest.
However, should JOE encounter heightened selling pressure over the weekend, it may struggle to secure the $0.050 support. In such an event, prices could dip to $0.039 or even $0.033, negating the current bullish outlook. A sharp decline might indicate a shift in sentiment, potentially prompting further downward moves.
Disclaimer
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