As May approaches, many crypto tokens are approaching major development. Altcoins aims to use these milestones as catalysts to boost prices following Bitcoin’s recent momentum.
Beincrypto analyzed three such altcoins for investors to see as Q2 approaches its end.
BNB
BNB prices are expected to surge soon, based on Binance Smart Chain (BSC)’s Maxwell Hard Fork. This upgrade promises faster block time, improved network efficiency, and smoother overall performance. This could increase investors’ trust and use of the platform.
Maxwell Hard Fork could serve as a key catalyst for increasing chain activity. Currently trading at $672, BNB faces resistance levels of $686 and $700. A strong market response to upgrades could fill the 18% gap at BNB’s all-time high (ATH) of $793.
However, if the hard fork reception is warm, the BNB may remain below $686. This could negate bullish prospects and stop the ongoing uptrends as traders are waiting for clearer indications of sustained momentum.
zilliqa (Zil)
Zil’s price has dropped 14.7% over the past two weeks, falling from $0.0149 to $0.0127. This fall could be due to delays in the release of Zilliqa 2.0 mainnet. However, a positive update on the transition could trigger a new bullish momentum for the token.
You need to monitor Zilliqa 2.0 news. Because favorable developments could lead to resistance at $0.0137 for Zil. Breaking this level will revive bullish emotions and show you the potential recovery of Altcoin.
If Zil can’t take advantage of momentum, the price may be merged between $0.0125 and $0.0137. Such lateral movements weaken bullish prospects and suggest periods of uncertainty before the next major movement.
Optimism (OP)
OP prices have remained mostly flat these days, but upcoming events could spark bullish momentum. The scheduled unlocking of 3134 million OP tokens worth $24.22 million this week could cause investors to surge in prices in preparation for increased supply and activity.
Currently, the OP is trading above a one-sided cloud, indicating the strength of its potential. This technical setup has raised investors’ interest as it suggests that the OP could break past the $0.80 resistance and continue to rise towards the $0.90 level.
However, if you fail to violate $0.80, your bullish outlook will be void. In that case, the price could fall below $0.69, indicating a potential weakness and a need for attention between traders.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
