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Bitcoin painted a bearish picture last week after falling 8% and slipping below $100,000. It seems that most altcoins will depend on external developments. This could be both beneficial and detrimental to the tokens.
BeInCrypto analyzed three altcoins to watch this week that could see a rise or fall.
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Arbitrum (ARB)
ARB is trading at $0.241 after a 21% decrease in the last 24 hours, reflecting the increasing pressure ahead of the token open this week. Market sentiment remains fragile as uncertainties mount, and fears mount that additional supply could increase volatility and limit any… Altcoin recovery In a short time.
The planned issuance of 92.65 million ARBs, worth more than $22.35 million, could add further downward pressure on an already volatile market. If the sale accelerates, ARB could slide towards the psychological support level of $0.200, setting the conditions for more losses if the sentiment decreases further.
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If ARB stabilizes at $0.242 and avoids a sharp decline, it could… The altcoin is recovering About $0.295. A successful move above this level would indicate a complete renewal of buyer confidence and invalidate the bearish outlook, providing a potential reversal for short-term traders.
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Undead Games (UDS code)
UDS remains one of the few tokens trading near its all-time high, showing resilience despite broader market weakness. The altcoin is only 23% off its peak at $2.90, indicating stronger demand and tighter supply conditions compared to many other assets that are seeing deeper corrections.
Narrowing Bollinger bands suggest that the UDS is preparing for a sharp increase in volatility. Market volatility often increases over the weekend, and an upward movement can push the coin above $2.59. Continued momentum could allow UDS to test the all-time high at $2.90 and gain traction Increase in the interest of traders.
If the bearish momentum takes hold, UDS may fall below the support levels at $2.29 and $2.14. The occurrence of a breakout will invalidate the bullish formation and expose the symbol to deeper losses. This scenario highlights how sentiment can change quickly when volatility is compressed before big price moves.
Perachain (BERA)
BERA is one of the altcoins to watch this week as it trades at $1.42 after a weekly decrease of 15.6%, which reflects the growing uncertainty in the market. The Ichimoku cloud indicates bullish momentum, although its location above the candles contradicts the trend.
The launch of Bechain’s Claims Page can contribute to BERA’s price stability. The tool allows users affected by the Balancer v2 and BEX exploits to recover lost deposits, which could support the sentiment. This development may contribute to BERA remaining above $1.41 or stimulate a recovery towards $1.57 if demand strengthens.
If the bullish momentum wanes and the Claim Page fails to raise confidence, BERA could break the $1.41 barrier. A drop through this support can Pay an alternative currency About $1.31. This will invalidate the bullish thesis and indicate the risk of a deeper downside in the continued volatility of the market.
