The past week proved to be rather bullish for the crypto market, with many altcoins noting sharp gains. However, the coming weekend will be crucial as well, considering it will be a test of the rallies’ sustainability.
BeInCrypto has analyzed three altcoins that could either make gains or face reversals this weekend.
SponsoredNear Protocol (NEAR)
NEAR emerged as one of the best-performing altcoins in the last 24 hours, rising 13% to $3.20. Despite the bullish momentum, the rapid surge raises concerns about potential short-term exhaustion in price action.
The RSI is entering the overbought zone above 70.0, a level that has historically triggered reversals for NEAR. If investors move to sell, the token could drop to the $3.06 support or even slip lower to $2.70.
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However, if NEAR manages to resist bearish market pressure, the price could push past $3.34. Securing this level as support would invalidate the bearish outlook and potentially drive the altcoin higher toward $3.60.
Optimism (OP)
OP is set to undergo a 116 million token unlock this weekend, worth nearly $95.95 million. The supply increase could pressure the price negatively as the influx may exceed existing demand. This could create short-term volatility for the altcoin.
SponsoredCurrently, OP trades at $0.838, holding above the $0.812 support and marking a monthly high. If the token unlock triggers selling, the price could break below $0.812. OP will thus potentially fall to $0.760, undermining its recent recovery momentum.
If bullish momentum prevails, OP could defy selling pressure and rise beyond $0.875. Flipping this resistance into support would invalidate the bearish outlook. This could potentially push the token further toward the $0.909 price level in the coming days.
Pump.fun (PUMP)
Another one of the altcoins to watch this weekend is PUMP, the price of which is at $0.0075, holding steady above the $0.0074 support. A successful bounce from this level could spark recovery. This would give the altcoin a chance to build upward momentum and push toward its all-time high in the near term.
The ATH for PUMP sits at $0.0090, requiring a 21% rise. Considering the token gained 27% over the past week, the probability of another rally appears feasible. If bullish momentum continues, PUMP could reclaim its peak price over the coming weekend.
However, if selling pressure intensifies or bearish sentiment takes control, PUMP could fail to defend the $0.0074 support. In such a scenario, the altcoin may decline further, slipping to $0.0062 and invalidating the bullish outlook while increasing downside risk for investors.
