As the weekend approaches, some altcoins are flashing early signals that could define short-term price movements. The market presents a range of technical outlooks, from renewed bullish momentum to significant drawdowns that signal depletion.
BeInCrypto analyzes three tokens investors should keep an eye on heading into the weekend.
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Decred (DCR)
Decred generated a strong bullish expansion and surged to $24.70 after regaining the $20.22 pivot. The impulsive candlestick confirms that buyers are regaining control following the high-low structure above $17.45. This move decisively turns the short-term momentum into a bullish one after a long period of correction.
A break above $22.84 will maintain upward momentum, with $25.94 being the next major resistance level. If the price closes above $25.94 for the day, it will start moving towards $30.06. Notably, DCR exhibits a weak negative correlation with Bitcoin of -0.09, suggesting relative isolation from broader BTC volatility.
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The bullish scenario will be invalidated if the price closes below $20.22. A failure here would send momentum back to neutral and expose $18.79. A loss of $17.45 would completely break the high-low structure, locking in either a broader pullback or a prolonged consolidation.
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Polygon (POL)
POL widened its losses and set a new all-time low at $0.0839. Altcoins plunged 22.8% at one point, before recovering some of the losses. The stock closed down 12.8%, reflecting sustained selling pressure and weak market confidence as POL continues to struggle for a stable price base.
On-chain signals bring cautious optimism. Chaikin money flow has formed a bullish divergence with POL price, indicating that outflows are decreasing despite continued weakness. This change signals an improvement in demand behind the scenes and could help POL regain $0.1024 and extend the recovery towards resistance at $0.1193.
However, downside risks remain high if sentiment does not improve. If the bearish momentum continues, POL could hit another all-time low. As a result, such a move would cancel out any new bullish divergence, strengthen the general downtrend, and delay any meaningful recovery as sellers maintain control of price action.
Optimism (OP)
OP hit a new all-time low during intraday trading on Friday, falling to $0.1579. This move extended a sustained downward trend that weighed on prices throughout the week. OP’s cumulative decline is now close to 40%, with continued selling pressure across recent trading sessions, highlighting declining investor confidence.
Momentum indicators suggest that selling pressure may be nearing exhaustion. The money flow index is moving into oversold territory, a level historically associated with reversals. If this is confirmed, it could encourage bullish buying and help OP regain $0.1817, opening the upside towards $0.2128 or $0.2506.
On the other hand, bearish risks will continue to rise if market sentiment continues to deteriorate. If it fails to stabilize, OPP could fall below $0.1579. At the same time, a new all-time low will override any bullish divergence settings, strengthen the prevailing downtrend, and delay any recovery attempts as sellers maintain control.
