The crypto market is diving into the end of August and will soon begin the final month of Q3; however, before the end comes the final weekend, which could likely be filled with volatility and developments.
Thus, BeInCrypto has analysed three such altcoins that could see a sharp move this weekend.
Avalanche (AVAX)
Avalanche is drawing investor attention this weekend as Treehouse, a DeFi fixed income layer, prepares to launch on the network through tAVAX. The development highlights Avalanche’s growing ecosystem and could attract new capital inflows.
If AVAX manages to secure $24.93 as a reliable support level, its price could see upward movement. A bounce from this range would provide strength for a potential rally toward $25.00. Such a move would mark a recovery from recent volatility and reinforce bullish signals for the altcoin.
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On the downside, Avalanche remains vulnerable if selling pressure persists. A break below $23.90 support could expose AVAX to further losses, sending the price toward $22.76. This decline would invalidate the bullish outlook.
Cardano (ADA)
Cardano is a crucial altcoin to watch this weekend with a key development on the horizon. An independent audit of Input Output Global’s ADA reserves, requested by founder Charles Hoskinson after $600 million misuse claims, aims to address transparency issues. The outcome could significantly impact investor confidence and sentiment.
The audit could act as a catalyst for ADA, lifting the price from $0.82 toward $0.90. Securing this level of support may enable further growth, potentially driving the altcoin to $0.96. The Ichimoku Cloud currently signals bullish momentum, reinforcing the possibility of upward movement.
However, Cardano remains vulnerable if holders choose to sell during uncertainty. A breakdown below $0.80 could trigger further losses, sending ADA toward $0.75. Such a decline would erase recent progress and invalidate the bullish outlook.
Optimism (OP)
OP is trading at $0.697, holding above its $0.68 support level at the time of writing. The Ichimoku Cloud highlights a bullish signal, suggesting that Optimism may maintain short-term stability. This indicator reflects continued market interest, offering support for the altcoin’s efforts to stay afloat despite broader market pressures.
Optimism faces a significant test with a scheduled unlock of 31.34 million OP tokens, valued at more than $21.87 million, expected this weekend. Such events often increase selling pressure.
If investors choose to accumulate during the unlock, OP may continue consolidating above $0.68. This would provide a stable base for potential growth. However, if holders remain static or shift to selling, the altcoin could lose its critical support, slipping through $0.68 and targeting $0.63, invalidating the bullish-neutral outlook.
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.
