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As the weekend approaches, some altcoins are showing the first signs that could determine short-term price action. From renewed momentum to upswings to deep declines that suggest weakness, the market presents a mixed technical outlook.
The BeInCrypto team breaks down three such coins that investors should keep an eye on as the weekend approaches.
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Decred (DCR)
Decred posted a strong bullish expansion, rising sharply to $24.70 after reclaiming the $20.22 pivot. Candles impulse confirms Buyers are coming back Take control after a higher bottom structure above $17.45. This move clearly changes the short-term momentum to the upside after a long period of consolidation.
Holding the trade above $22.84 keeps the bullish momentum intact, with $25.94 being the next major resistance. A daily close above $25.94 paves the way for a move to $30.06. It is worth noting that DCR shows a weak negative correlation of -0.09 with BTC, indicating a relative isolation from the broader btc volatility.
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The bullish scenario is canceled if the daily close is below $20.22. Failure at this level will move momentum into neutral and could lead to an exposure of $18.79. A loss of $17.45 will break the entire upper bottom structure and confirm a return to a broader decline or prolonged consolidation period.
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Polygon (POL)
Bull Coin continued its losses, hitting a new all-time low at $0.0839. where The altcoin has temporarily sunk by 22.8% before recovering part of the decline. The session closed 12.8% lower, reflecting continued selling pressure and weak confidence in the market as Paul continues to struggle to find a stable price base.
Signals on the chain provide cautious optimism. The Chaiken Money Flow Index is forming a bullish divergence with the Bull price, indicating lower flows despite continued weakness. This shift indicates the improvement of demand in depth, which can help Bull claim $0.1024 and continue the recovery until $0.1193 resistance.
However, it continues to face high downside risks if the overall mood does not improve. Continued selling momentum could push POL to new record lows. As a result, such a move will nullify the emerging buying divergence, reinforce the existing downtrend, and delay any significant recovery as sellers continue to control price action.
Optimism (OP)
OP reached a new all-time low during Friday’s intraday session, falling to $0.1579. This move continued the ongoing downward trend that has pressured prices all week. The total OP decline has now reached nearly 40%, highlighting continued selling pressure and weak investor confidence in recent trading sessions.
The momentum indicators indicate that the selling pressure may be coming to an end. The Liquidity Flow Index is about to enter the oversold zone, a level that has historically been associated with reversals. If confirmed, this could encourage buying from the bottom and help OP recover $0.1817, paving the way for a rise towards $0.2128 or $0.2506.
On the other hand, it continues to face a high downside risk if market sentiment continues to decline. Failure to install may result in OP paying less than $0.1579. At the same time, a new historical low will cancel the buy divergence pattern, reinforce the existing downtrend, and delay any recovery attempts as the sellers remain in control.
