As May comes to a close, many crypto tokens are approaching major developments. Altcoins aim to use these milestones as catalysts to drive their prices higher, following Bitcoin’s recent momentum.
BeInCrypto has analyzed three such altcoins for investors to watch as Q2 comes closer to an end.
BNB
BNB price is expected to surge soon, driven by the upcoming Maxwell hard fork on Binance Smart Chain (BSC). This upgrade promises faster block times, improved network efficiency, and smoother overall performance, which could boost investor confidence and usage of the platform.
The Maxwell hard fork could serve as a key catalyst for increased chain activity. Currently trading at $672, BNB faces resistance levels at $686 and $700. A strong market response to the upgrade may close the 18% gap to BNB’s all-time high (ATH) of $793.
However, if the hardfork’s reception is lukewarm, BNB may remain stuck below $686. This could invalidate the bullish outlook and stall the ongoing uptrend, as traders wait for clearer signs of sustained momentum.
Zilliqa (ZIL)
ZIL’s price has declined 14.7% over the last two weeks, dropping from $0.0149 to $0.0127. This fall is likely due to delays in the Zilliqa 2.0 mainnet launch. However, any positive update on the migration could trigger renewed bullish momentum for the token.
Investors should watch for news on Zilliqa 2.0, as favorable developments may push ZIL’s price toward resistance at $0.0137. Breaking this level could reinstate bullish sentiment and signal a potential recovery for the altcoin.
If ZIL fails to capitalize on momentum, the price may consolidate between $0.0125 and $0.0137. Such sideways movement would weaken the bullish outlook, suggesting a period of uncertainty before the next major move.
Optimism (OP)
OP price has remained mostly flat recently, but upcoming events may spark bullish momentum. The scheduled unlock of 31.34 million OP tokens this week, worth $24.22 million, could drive a price surge as investors prepare for increased supply and activity.
Currently, OP trades above the Ichimoku Cloud, indicating potential bullish strength. This technical setup suggests OP could break past the $0.80 resistance and continue climbing toward the $0.90 level, attracting more investor interest.
However, failure to breach $0.80 would invalidate the bullish outlook. In that case, the price could drop to $0.69 or even lower, signaling potential weakness and a need for caution among traders.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
