As the cryptocurrency market remains volatile, investors and traders are always looking for the next big thing. While Bitcoin and Ethereum have been major players in the industry for years, there are many other altcoins worth watching closely. In this article, we’ll take a look at the top 6 altcoins to watch over the weekend, according to analysts. These altcoins include Arbitrum, Polygon (MATIC), Cardano (ADA), Phantom (FTM), Optimism (OP) and BNB. Here are the details…
6 altcoins to watch have been announced
Arbitrum (ARB)
According to analyst Elena R., ARB price has been following the lower trendline over the past few days, which acts as a strong base in case of a bearish move. If the altcoin’s price reaches the upper band of the Bollinger bands and falls below the average levels, it could rally to retest the upper band. After the recent rejection for the ARB, the price is approaching the average levels of the band, followed by a giant upswing.
Phantom (FTM)
On the other hand, with the recent price jump, Phantom price cut the bearish trade setup and bounced higher. The price is currently testing one of the main resistance levels, which could trigger a significant rise towards the initial target of $0.57. However, the bearish divergence looks a little high at these levels, but as FTM is bullish, the price may continue to rise to hit the intermediate target of $0.64.
Optimism (OP)
In Optimism, the last altcoin that Elena R. pointed out, the OP price seems extremely bullish as the price moves higher to break the upper resistance. While the OP has yet to show a bullish divergence, it looks likely to go beyond the symmetrical triangle. However, a minor pullback within the triangle could also be imminent, forcing the price to peak and trigger a bullish breakout. Also, popular altcoins like Binance Coin, Polygon, Solana, Dogecoin and many more seem to be waiting for the next Bitcoin price action. . Therefore, if the BTC price triggers the next bullish move, these altcoins tend to follow.
Cardano (ADA)
On the other hand, another analyst, Samuel Edyme’s list stands out. Cardano (ADA) is at the top of the analyst’s list of altcoin projects to watch. cryptocoin.com As we have also reported, Cardano is a Blockchain platform that aims to offer faster and more secure transactions than traditional cryptocurrencies such as Bitcoin. In addition to its strong fundamentals, ADA’s chart is showing some bullish momentum and according to its 1-day time frame, the asset still has a long way to go in the rally. On the chart, even though the asset has reached a huge top, it still has external liquidity above the $0.5 zone that needs to be bought.
Binance Coin (BNB)
Binance Coin (BNB) ranks fifth. BNB is a native token of the Binance cryptocurrency exchange. Adding to its strong performance, Binance Coin (BNB) looks closer to reaching an external top at $399, according to Edyme. It is not certain when the asset will reach this level, but with crypto trading volume increasing over the past week, an external high is likely and worth watching over the weekend.
Polygon (MATIC)
Polygon (MATIC) is the last coin on the list. Polygon is a layer 2 scaling solution for Ethereum that aims to provide faster and cheaper transactions for users. MATIC has not made any significant gains compared to other major altcoins in the crypto market. However, the asset price chart suggests that the time to overshadow the others may be closer. On the 1-day timeframe, MATIC has formed a double bottom pattern signaling an impending surge.
MATIC also appears to form a W pattern with the double bottom on the chart. These two formations made MATIC an altcoin to watch over the weekend. Still, it’s worth noting that the cryptocurrency market can be extremely volatile and there are no guarantees when investing in altcoins.
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