The past few days have been vague in the crypto market as Bitcoin is declining and altcoins have not been able to find a way. So next week we may see altcoins relying on external developments to find catalysts.
Beincrypto has analyzed three such altcoins that are important to watch next week.
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Aster (Aster)
Aster prices skyrocketed 64% within 48 hours, becoming one of the top-performing altcoins of the week. Aster’s momentum, currently trading at $1.45, underscores the growing interest of investors.
For Aster to regain an all-time high of $1.99, AltCoin will first have to break the resistance level at $1.59 and $1.87. If Aster secures these levels as support, bullish sentiment could drive the token towards new highs in the short term.
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However, if investors begin booking profits, Aster faces negative side risk. A pullback below the $1.39 support could expose the token to further losses and reduce it to $1.17. Such a decline weakens confidence, negates bullish papers, and delays attempts to recover.
Jupiter (jup)
JUP prices have fallen 5.2% over the past 24 hours and are currently trading at $0.498. Altcoin fell below $0.507 support, but surpassed the two-month uptrend line. Holding this line is important to maintain bullish emotions and prevent further negative side pressure.
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This week, 53.47 million JUP tokens worth $26.71 million will be unlocked. Historically, tokens unlock the lock that increases sales pressure as supply exceeds demand. If the same happens with JUP, Altcoin may lose strength and slip towards $0.475 support.
However, strong demand prior to unlocking can offset the negative impact. With momentum, the JUP price will stabilize above $0.507, potentially preserving bullish structures. This will invalidate the bearish paper and provide JUP with a breathing patio to integrate.
Artificial Supervisor Alliance (FET)
FET prices fell 8.4% this week and are currently trading at $0.604. After 21 shares launched the artificial super intelligence alliance AFET ETP, Altcoin is focused.
The launch can act as a catalyst for recovery and support the Fet Recaim Lost Ground. If the token supports $0.612 and flips, it could move towards $0.637. The sustained bullish momentum allows Altcoin to push higher, potentially at $0.663 on the daily chart.
However, failure to attract purchasing pressure from this launch can exacerbate losses. If momentum stalls, the FET price risks further sliding and could potentially immerse yourself in $0.590. A deeper reduction sends Altcoin to $0.573, invalidating bullish papers.
