3 altcoins to watch this week | February 28 – March 1

Cryptocurrency traders should keep an eye on major altcoins that are showing notable technical formations and potential catalysts. Events that impact the market, including token unlocking, breakout patterns, and overbought conditions, can create short-term volatility.

Pinkrypto analyzes three altcoins that are poised for a volatile weekend.

YOU

SUI is holding a token unlock event on March 1st, where 53.82 million SUI will enter the coin cycle, or about 0.54% of the total supply. The value of the unlocked tokens is estimated at more than $50 million. If market demand fails to absorb this supply, it may increase Short-term price pressures.

SUI is trading at $0.935, below the resistance level at $0.977. The Momentum Stress indicator indicates compression, while the Histogram reflects emerging bullish buying power. If the volatility turns to the upside and the general sentiment of the cryptocurrency market remains positive, Sui can break the $0.977 level and target $1,060.

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However, downside risks persist if investors sell during… Unblocking event. Failure to absorb the new supply could push the price below the support level at $0.879. If this level is broken, the price may go towards the next downside target near $0.778, invalidating the positive outlook in the near term.

Pippin

Pippin’s price resumed its bullish momentum after a brief correction, hitting an all-time high of $0.904 in the last 24 hours. The token is now trading at $0.679. The increase in trading activity reflects continued speculative interest in the broader currency sector.

The bullish expanding falling wedge pattern remains in place on the daily chart. The price continues to approach the expected upside target of 221%. A decisive move above $1,000 will strengthen the breakout thesis. The Chaiken Cash Flow Index shows a strong flow, which supports… Continue the growing momentum.

Downside risk persists if holders enter profit. A breach of the support level at $0.666 will weaken the current structure. In this case, the price of PIPPIN may drop towards $0.514. Losing this level can lead to losses extending up to $0.385, which invalidates the positive outlook.

STABLE

Follow another of Monitoring alternative digital currencies This weekend, it is STABLE, trading at $0.036 at the time of writing after hitting a new high of $0.039 during the daily trading period. The Parabolic SAR indicator remains below the candles, confirming the continuation of the short-term bullish technical trend.

Momentum indicators, however, point to the need for caution. The Money Flow Index crossed into the overbought zone, a level often associated with profits and short-term investments. If selling pressure emerges, the STABLE price may fall towards $0.030 or even test deeper support near $0.025.

If the upward momentum continues, a full correction may follow instead of an immediate decline. We saw a similar consolidation last week before recording further gains. The STABLE price can move between $0.039 and $0.030. Breaking the current historical high can open the way towards $0.048, invalidating the negative expectations.