beincrypto.com
The third quarter of the year and the first week of July started off with considerable volatility. Some crypto tokens posted sharp gains, while others suffered losses. However, the weekend is expected to bring about a positive shift in some altcoins.
BeInCrypto has analyzed three altcoins for investors to watch this weekend, owing to their network development.
Jupiter (JUP)
JUP has had a positive week, rising by 12.4% in the last seven days, currently trading at $0.442. The altcoin is consolidating between $0.471 and $0.424, indicating that it may be preparing for a breakout.
The Parabolic SAR indicator is positioned below the candlesticks, signaling a potential uptrend for JUP. This technical pattern suggests that buying pressure may build, which could push the altcoin higher. Additionally, the launch of Jupiter Studio, allowing the community to create tokens, could further increase demand for JUP.
With the Parabolic SAR indicating an uptrend and the launch of Jupiter Studio, JUP has the potential to break the $0.471 resistance. If successful, it could target $0.517. However, without sustained bullish momentum, the altcoin may continue consolidating within its current range, limiting short-term gains.
Dog (Bitcoin) (DOG)
DOG, the meme coin built on Bitcoin, is expected to have an airdrop event over the weekend, with Kraken exchange marketing July 6 as the date. Airdrops typically generate excitement, potentially driving demand for the token.
DOG has gained significant investor attention due to its resilience in the market. Currently trading at $0.0041, the meme coin could move toward $0.0047 if the airdrop generates heightened demand. This potential price increase could make DOG a popular choice for traders looking to capitalize on short-term movements during the event.
However, if the airdrop hype fails to create significant price changes, DOG may experience sideways movement above the $0.0039 support level. A drop below this support would invalidate the bullish outlook, potentially sending the altcoin down to $0.0035.
Hosico Cat (HOSICO)
HOSICO has gained significant attention from investors, with a 172% rise in the past week. The meme coin is currently trading at $0.0514, showing strong momentum. This surge highlights HOSICO’s potential, but market dynamics could shift as the coin faces resistance and investor sentiment evolves in the short term.
The Relative Strength Index (RSI) indicates that HOSICO is overbought due to the recent surge. However, this may lead to a cooling-off period, allowing the altcoin to build momentum for further growth. If the bullish trend persists, HOSICO could break past the $0.0619 resistance, aiming for $0.0775 in the coming weeks.
If sharp selling pressure emerges, HOSICO could lose support at $0.0486. This would invalidate the current bullish outlook, potentially leading to a decline toward $0.0347.