The Crypto market is currently experiencing a surge in optimism supported by Bitcoin’s recent history highs and the US House of Representatives’ recognition of clarity and genius acts. This positive momentum is expected to be carried over the weekend, potentially benefiting Altcoins.
Beincrypto has analyzed three Altcoins for potential benefits this weekend.
Lido Dao (ldo)
LDO prices have skyrocketed 22% in the last 24 hours, reaching $1.13 after Bitgo, native ETH staking support via the Lido protocol, announced. The move will position Bitgo as the first US custodian to support ETH staking through lido, increasing confidence in Altcoin and its future growth.
The announcement is expected to drive LDOs even further over the weekend, potentially driving prices above the $1.18 resistance level. Strong support shown by the parabolic SAR below the candlestick will raise the LDO to $1.34, potentially marking a four-month height. This uptrend signal continued to have a bullish momentum in the tokens.
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However, if the LDO doesn’t break the $1.18 resistance again, it could face sales pressure. It can be reduced to $1.07. Losing this support will bring the LDO to $0.99, denying bullish outlook and indicating a potential slump in price trends.
Ethereum Classic (etc.)
ETC prices have skyrocketed 15% in the last 24 hours to reach $23.01. Altcoin is currently facing resistance at $24.52. To push things higher, you will need strong support from investors. Violating this barrier is essential to maintaining recent momentum and reaching new price levels.
With Ethereum reaching six months’ height, Ethereum Classics (such as) could benefit from that gathering. ETH’s growth could drive beyond the $24.52 resistance, paving the way for a rise to $27.21. This marks a key milestone for Altcoin as Altcoin continues to gain momentum.
However, the relative strength index (RSI) indicates that ETC has been over-acquired and exceeds the 70.0 threshold. Historically, this indicates a potential inversion of Altcoin. If the market is cooled, ETC could fall to $20.81, eliminating recent profits and negating bullish outlook.
Cardano (ADA)
Cardano prices have skyrocketed 13.79% in the last 24 hours to reach $0.87. Altcoin benefits from the broader market bullishness and Bitcoin rallies. This momentum supports an increase in ADA and the upward trend could be sustained with continued investor confidence.
Last week, Cardano (ADA) rose 39%, approaching the key $1.00 level. To reach this price, the ADA must first violate the $0.93 resistance. The 50-day EMA has shown an upward trend, indicating a potential golden cross that can further promote ADA increases in the coming days.
However, if the market becomes bearish, the ADA could face corrections. If Cardano falls below the $0.85 support level, it could potentially immerse itself in an additional $0.80 or $0.74. This scenario disables the current bullish paper and shows a potential reversal of Altcoin’s price trajectory.
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.
