The crypto market has shown bullish signs of the imminent altcoin season this week. Meanwhile, several Altcoins have been working on prominent network developments, adding to their optimism.
Beincrypto has analyzed three such altcoins that show the best possible chances for next week’s rise.
CRO
Cronos Price shows signs of sustained growth as forecasts for the POS V6 upgrade to take place on July 28th are built. This important update will improve cross-chain compatibility and overall performance.
This development could generate positive sentiment among investors and push CROs into stronger uptrends over the coming weeks.
The CRO is currently trading at $0.124 and is looking to secure $0.121 as a reliable support level. If the bounce is successful, it could send Altcoin to $0.133. In particular, the 50-day EMA approaches a crossover above the 200-day EMA, indicating the possibility of a bullish golden cross soon.
However, wider market changes could challenge bullish prospects. As the bearish momentum rises, Chronos loses its current support and could drop to $0.108. Such a reduction disables the current positive structure.
Conflux (CFX)
Conflux (CFX) has seen major gatherings and has recently become one of the top performers of Altcoins. Bolstered by the recent Conflux Conference in Shanghai, CFX has skyrocketed 97.5% over the past 24 hours. Altcoin is currently trading at $0.20, attracting investors’ attention amid growing momentum and renewed community optimism.
The excitement continues to grow as Conflux gears up for the 3.0 upgrade scheduled for early August. This major milestone could serve as a bullish catalyst. If CFX rebounds from a support level of $0.17, Altcoin could break $0.24 and rise towards a key psychological mark of $0.30 in the short term.
However, if an investor begins securing profits after a significant profit, the risk remains. If you fall below the $0.17 support, your CFX could drop to $0.11. Such a move will reverse the current bullish momentum, with traders reassessing expectations as bearish sentiments overtake altcoin rallies.
Bitget Token (BGB)
Bitget, a leading Crypto Exchange, announced this week its partnership with Pudgy Penguins for a wellness escape in Kuala Lumpur.
Though this event is not crypto-related, collaborations like this often pave the way for more impactful partnerships, potentially increasing brand visibility and investor interest across the memecoin and exchange ecosystem.
BGB prices can earn profits following this news, especially as technical indicators support bullish outlook. Parabolic SARs placed under candlesticks check for active uptrends.
If momentum applies, Altcoin can push over $5.05 and recover Bitget’s token recovery loss during the market correction in May.
However, bear pressure will bear weight in the short term. If the price falls below the main support level of $4.83, additional losses could drag the token to $4.46. Such a move has shown that it negates bullish outlook and undermines investors’ sentiment despite positive market development.
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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 conduct your own research and consult with an expert before making a financial decision. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
