The crypto market changed its tone from bullish to bearish mid-week, creating concern for investors. Because weekends are known to be in high volatility periods, some altcoins may be moving in an unprecedented way.
Therefore, Beincrypto highlights three such tokens that investors should monitor better and worse.
Conflux (CFX)
CFX is one of the top performers Altcoins this week, posting an impressive 85% rallies. With a $0.188 deal, Altcoin is set for a potential recovery, with more upward movement expected. This price action reflects new investor interest and shows a continuing upward trend supported by positive sentiment in the broader market.
The formation of the golden cross between the 50 and 200 days of EMA further supports the bullish outlook for CFX. As the 50-day EMA crosses the 200-day EMA, it shows building momentum for a potential price surge. This could potentially target CFX at $0.240 past its current resistance of $0.194.
However, CFX can be significantly reduced as investors’ feelings change and pressure rises. The sale could erase much of your recent profits and drop to $0.146. This downside risk underscores the importance of maintaining investor confidence in order to maintain CFX’s bullish momentum.
A stocky penguin (penguin)
Pengu has dropped 12% over the past 24 hours to trade at $0.037. AltCoin went below the $0.040 support level after a failed attempt to beat the all-time high (ATH) of $0.046. This slump reflects a decline in momentum and investor uncertainty.
Despite the recent set-up, there is still hope among investors for a new ATH. The parabolic SAR indicator under the candlestick suggests an active uptrend, indicating that pengos may continue to rise. Once market conditions stabilize, the altcoin could regain its bullish momentum and surpass its previous highs.
However, if the market becomes bearish, Penn could face further losses. It is possible to drop to a support level of $0.029, disabling bullish outlook.
pump.fun
The pump has dropped sharply by 25% during the daytime lows over the past 24 hours, trading at $0.00258. Altcoin continues to lose its traction in the market and is declining even further.
The next major support for the token is $0.00212, and this level could be tested this weekend if sales continue. This can lead to further sales from the pump holder and makes you vulnerable to further fixes.
However, the pump was able to recover from today’s slump, so support can be secured for $0.00249. A successful rebound at this level paves the way for pushes above $0.00292, sending AltCoin to $0.00380.
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.
