As Bitcoin approaches its all-time high, the market is starting to show interest in altcoins as well. This makes the next few days critical for crypto tokens, with potential for gains.
BInCrypto has analyzed three altcoins that investors should keep an eye on this weekend.
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SPX6900 (SPX)
The SPX price has jumped 32.7% in the last 48 hours, establishing it as one of the top meme coins of the week. Currently trading at $1.28, it is just below the $1.29 resistance level, with investors keenly observing for signs of a sustained breakout.
Technical indicators indicate that bullish momentum is forming. The Parabolic SAR is situated beneath the candlesticks, indicating an uptrend. If the rally continues, SPX could surpass $1.39 and test $1.47, achieving a three-week high and restoring investor confidence in the token’s recovery.
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Nonetheless, there are downside risks to consider. Should selling pressure increase over the weekend, SPX could experience a pullback. A drop below the $1.16 support level would undermine the bullish outlook and lead to increased caution among traders. Such a decrease could reverse recent gains.
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Zcash (ZEC)
ZEC is another altcoin worth monitoring this weekend, currently trading at $147 after a remarkable 164.8% surge over the past week, marking one of its strongest performances in years. With rising momentum, ZEC is now targeting the $150 resistance level.
If ZEC breaks through $150, it could extend its rally towards $170. This surge has already brought the cryptocurrency to a three-and-a-half-year high, bolstering bullish sentiment. This milestone sets ZEC up for further potential gains, as market optimism increases around its reputation as a leading privacy-focused digital asset.
However, the risk of a correction exists. If investors start taking profits following the recent rally, ZEC could see significant downside pressure. A drop below $120 would put the token at risk of further losses, possibly falling beneath $100. Such a movement would contradict the bullish outlook and induce caution among traders.
BNB
BNB is one of the best-performing top altcoins this week, climbing 17% within just seven days. The cryptocurrency is currently priced at $1,107, reflecting substantial market demand. This performance reinforces its status as a leading asset.
The rally also allowed BNB to set a new all-time high at $1,114. Technical indicators, such as the Parabolic SAR, suggest a strong upward trend. If this momentum maintains, BNB might surpass $1,139 and climb even higher, possibly reaching another all-time high and drawing additional investor interest.
Nevertheless, downside risks persist. Should profit-taking occur or bearish market signals arise, BNB could drop to its $1,046 support level. A breakdown below this threshold could lead to a decline towards $1,000. Any further drop under this level would completely invalidate the bullish outlook.
