The crypto market is currently experiencing a surge in optimism, fueled by Bitcoin’s recent all-time high and the approval of the CLARITY and GENIUS Acts by the US House of Representatives. This positive momentum is expected to carry into the weekend, potentially benefiting altcoins as well.
BeInCrypto has analyzed three altcoins poised for potential gains this weekend, which may continue to push higher.
Lido DAO (LDO)
LDO price surged 22% in the past 24 hours, reaching $1.13, following BitGo’s announcement of native ETH staking support via the Lido protocol. This move positions BitGo as the first US Custodian to support ETH staking through Lido, boosting confidence in the altcoin and its future growth.
The announcement is expected to drive LDO further into the weekend, potentially pushing the price beyond the $1.18 resistance level. With strong support indicated by the Parabolic SAR below the candlesticks, LDO could rise to $1.34, marking a 4-month high. This uptrend signals continued bullish momentum for the token.
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However, if LDO fails to break the $1.18 resistance again, it may face selling pressure. A drop to $1.07 is possible, and losing this support could send LDO to $0.99, negating the bullish outlook and signaling a potential downturn in the price trend.
Ethereum Classic (ETC)
ETC price surged 15% in the past 24 hours, reaching $23.01. The altcoin is currently facing resistance at $24.52. For ETC to push higher, it will need strong support from investors. Breaching this barrier is essential to sustain the recent upward momentum and reach new price levels.
With Ethereum reaching a 6-month high, Ethereum Classic (ETC) is likely to benefit from its rally. The growth of ETH could drive ETC past the $24.52 resistance, paving the way for a rise to $27.21. This would mark a significant milestone for the altcoin as it continues to gain momentum.
However, the Relative Strength Index (RSI) indicates that ETC is overbought, sitting above the 70.0 threshold. Historically, this signals a potential reversal for the altcoin. If the market cools down, ETC could fall to $20.81, erasing recent gains and invalidating the bullish outlook.
Cardano (ADA)
Cardano’s price surged by 13.79% over the last 24 hours, reaching $0.87. The altcoin has benefited from broader market bullishness and Bitcoin’s rally. This momentum has supported ADA’s rise, and with continued investor confidence, the upward trend could persist.
In the past week, Cardano (ADA) has risen by 39%, bringing it closer to the crucial $1.00 level. To reach this price, ADA must first breach the $0.93 resistance. The 50-day EMA is showing an upward trend, signaling a potential Golden Cross that could further fuel ADA’s rise in the coming days.
However, ADA could face a correction if the market turns bearish. If Cardano falls below the $0.85 support level, it could dip further to $0.80 or $0.74. This scenario would invalidate the current bullish thesis, indicating a potential reversal in the altcoin’s price trajectory.
The post 3 Altcoins To Watch This Weekend | July 19 – 20 appeared first on BeInCrypto.
