The cryptocurrency market experienced a significant downturn over the past 24 hours, further exacerbating an already challenging week for Bitcoin and altcoins alike. This situation leaves crypto tokens dependent on external developments to shift the current sentiment.
As a result, BeInCrypto has evaluated three altcoins that investors should monitor this weekend, given their upcoming developments.
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Jupiter (JUP)
The price of Jupiter (JUP) has fallen 10% in the last 24 hours, currently trading at $0.425. The altcoin has dipped below the $0.426 support line, indicating short-term vulnerability.
JUP is under additional strain due to a scheduled unlock of 53.47 million tokens this weekend, valued at $22.85 million. Such a large influx of supply may exceed current demand, pushing the altcoin lower. If negative momentum increases, JUP could break through its existing support and test $0.404 shortly.
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However, if Jupiter’s price manages to stay above the $0.426 support, a recovery may be possible. A strong rebound could push JUP towards $0.475, restoring confidence among investors. Breaking through this resistance level would negate the bearish outlook.
Aster (ASTER)
ASTER has been a standout performer this month, achieving a new all-time high (ATH). The altcoin is also set to be listed on SafePal Crypto Wallet, enhancing its accessibility and adoption. This added exposure may attract new investors, further solidifying ASTER’s market position in the upcoming weeks.
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The momentum gained from SafePal integration could assist ASTER in reclaiming $1.87 as support. A successful bounce could drive the altcoin towards $2.24, bringing it closer to its ATH of $2.43. This target is still 33% away, presenting a potential bullish opportunity for investors if conditions are favorable.
Nevertheless, ASTER remains susceptible to further decline if broader market bearishness continues. A drop below $1.71 could push the price down to $1.58, negating the bullish outlook. Such a scenario would signal waning investor confidence.
Mantle (MNT)
MNT is another key altcoin to monitor this weekend. Currently trading at $1.70, the altcoin is consolidating beneath the $1.77 resistance while staying above the $1.59 support. This tight range has limited momentum for several days, preventing the altcoin from achieving a breakout.
Despite being rangebound, MNT showcased strength by reaching a new all-time high (ATH) at $1.91 during the intra-day high. For a new rally, the token must surpass the $1.77 resistance. Achieving this milestone would place MNT within 12.7% of its ATH, indicating renewed bullish momentum if demand from investors increases.
On the downside, impatience among investors could instigate a sell-off, putting MNT at risk of dropping below the $1.59 support. This could lead to further losses down to $1.47 or lower, effectively invalidating the bullish thesis.
