The crypto market appears promising for the next few days due to the anticipated continuation of the US Government Shutdown. This scenario could lead to rising prices for Bitcoin and other altcoins, which may attract fresh investments from new participants.
BeInCrypto has examined three altcoins that show the potential for gains in the near term.
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SPX6900 (SPX)
SPX is currently priced at $1.62, holding above the critical support level of $1.58. The altcoin has experienced a remarkable surge of nearly 62% over the last week, reaching a two-month peak, indicative of restored investor interest.
At present, SPX is about 41% away from revisiting its all-time high of $2.29, set in late July. Key technical indicators, especially the exponential moving averages (EMAs), suggest a sustained bullish trend. Should this momentum persist, SPX might surpass the $1.74 resistance and possibly escalate towards $2.00 in the upcoming sessions.
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Nonetheless, the overall market sentiment is vital for maintaining this rally. If profit-taking begins, SPX could dip below the $1.58 support level. A significant pullback might drive the price down to $1.39 or less, disrupting bullish momentum and indicating a temporary reversal in the altcoin’s upward trajectory.
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Optimism (OP)
Optimism is on the verge of a considerable token unlock this week, with 4.47 million OP tokens valued at over $3.28 million entering circulation. Historically, such events can trigger selling pressure, leading to potential short-term declines. Traders are cautiously observing, as the increased supply could temporarily impact OP’s price negatively.
In spite of the potential sell-off, technical indicators present a mixed outlook. The Parabolic SAR below the candlesticks suggests that OP may persist in its range between $0.76 and $0.71. This pattern indicates that buyers retain some control, limiting volatility while the market adjusts to the new token influx.
However, if bearish sentiment intensifies post-unlock, Optimism’s price could drop below the $0.71 support level. A more significant correction may see OP fall to $0.68 or lower. Such movement would negate the short-term bullish perspective and underscore the token’s sensitivity to market supply conditions.
Aptos (APT)
Aptos is poised for a major token unlock this week, with 11.31 million APT valued at nearly $60 million entering circulation. Such events frequently introduce short-term volatility as supply increases, potentially hindering APT’s upward momentum and inducing selling pressure.
Despite this, Aptos has shown robust performance, climbing 24% over the past week to hit $5.31 — its highest price in two months. The Chaikin Money Flow (CMF) points to increasing capital inflows, suggesting investor confidence. If buying persists, APT could surge past $5.50 and $5.73, even amidst the unlock.
However, the optimistic outlook relies on continued investor participation. If inflows wane, APT may struggle to sustain its current vigor. A decline below $5.06 could lead to a deeper correction toward $4.79, effectively invalidating the bullish scenario.
