Leaving behind another week in which Bitcoin and altcoins mostly moved in tight ranges, investors are already starting to think about what will happen in the coming days. Therefore, this article includes altcoins to watch out for next week. Here are these altcoins and expected levels…
The first altcoin on the list: PEPE
After its significant rally, meme coin PEPE has experienced an extensive pullback, as we reported on cryptokoin.com. PEPE is trending sideways in a triangle that analyst Crypto Tony believes will determine PEPE’s next direction. Tony told his followers in a tweet that he expects a breakout in a triangle formation before re-entering the trade. PEPE hit the market in mid-April 2023 and attracted a lot of attention in a week. With massive hype and listing on exchanges, PEPE attracted an influx of capital that caused its price to soar.
https://twitter.com/CryptoTony__/status/1662357468348043264
PEPE has gained more than 2,000 percent of its original value in two weeks, making it one of the most profitable crypto assets of 2023. This rise has put PEPE in the category of top meme coins in the crypto industry like SHIB and DOGE. A quick pullback saw PEPE fall by a substantial margin. The price dropped from $0.0000044867 to the local low of $0.0000010000. Thus, it suffered a loss of over 77 percent. Although PEPE is attempting a recovery, the price has followed a sideways trend as users await the next season of volatility. Some feel that the meme coin has completed its course and the community’s attention has shifted to another project, BOB.
Solana (SOL) can rise to these levels
Solana (SOL) managed to make a 24-hour gain. Currently, the altcoin’s price is at $19.51 after rising 1 percent in the past day. However, this positive price action failed to turn SOL’s weekly performance in the red. Because the seven-day price change remained in the red with a decrease of 3.26 percent. In addition to strengthening against the dollar, SOL has also managed to outperform the two crypto market leaders Bitcoin (BTC) and Ethereum (ETH).
SOL price climbed above the $19.49 resistance level. It also rose above the 9 EMA and 20 EMA lines on the 4-hour chart. If the altcoin’s price closes today’s trading session above the $19.49 mark, it will have a clear path to rise to the next key resistance at $19.93. Analysts specifically point to the RSI line, which trades above the SMA line. It also draws attention to the technical indicators on the 4-hour chart with the 9 EMA lines looking to move higher above the 20 EMA lines. A confirmation that the price of SOL will rise to the above-mentioned $19.93 target in the coming days would be a break above the longer EMA of the 9 EMA line on the 4-hour chart.
On the other hand, if the price of SOL closes a one-day session below $19.49 in the next 48 hours, it will be at risk of falling to the next major support level at $19.09. The bears are trying to push the altcoin’s price below the current support level. But right now, there is a certain amount of selling pressure, according to experts.
Bull scenario for Litecoin gains strength as halving approaches
Just like Bitcoin, Litecoin’s halving takes place every four years. This event reduces block rewards by 50 percent. The purpose of this halving is to reduce the amount of new supply flowing into the market. As demand increases, there is less supply to meet that demand. This leads to rarity and an increase in prices. The next Litecoin halving is now only three months away. This halving holds the same rally promise for the crypto asset as its predecessors. Because in the last halving in 2019, the price of LTC bottomed around $62 and then rose to a local high of $80 in the same month. So, will it be the same this year?
According to analyst Tony Spilotro, if this year’s halving sticks to this trend, the crypto will see some bullishness in the coming months. This could result in LTC breaking above the $100 level again as traders prepare for the next rally. At this point, it gains 20 percent with the halving expected to take place in early August, according to the analyst. Hence, buyers will dominate the market for the next two months. This will lead to higher prices for Litecoin. Judging from this historical performance, the best time to take a profit seems to be towards the end of August after the asset has risen by about 30 percent.
Another noteworthy coin among altcoins: Aptos
When we look at Aptos, the developments in the ecosystem draw attention rather than technical analysis. Crypto ecosystems use contests to support new projects in need of funding. Aptos Hack returns with Hack Holland, an event to find the new wave of Web3 projects that will contribute to the growth of the industry. Hack Holland hackathon, which will take place on June 5-7, is preparing to unleash the wave of DeFi products and services at Aptos. Apart from that, the second playtest of Metapixel’s Gran Saga: Unlimited game is also approaching. Metapixel is working on the Aptos Blockchain and the Web3 arm of South Korean gaming company NPIXEL, which entered the Web3 world in November last year.
Another exciting development was the announcement of Quicknode’s strategic partnership with Aptos in the node infrastructure space. After hitting an all-time high in January, APT has since been in decline. However, this situation is likely to change in the coming days or months. According to analyst Christian Encila, the token is currently trading in a very narrow range, which has contributed to the bullishness. Currently, the support level is at $7.5, while the long-term focus is on the $12 and $16 levels.
Shiba Inu analysis drew attention
Finally, the Shiba Inu (SHIB) analysis by altcoin analyst Ali Martinez drew attention. The analyst noted the activity in SHIB’s network. According to on-chain data, the Shiba Inu network registered 2,538 new addresses per day. This marked the highest level in the last three months. According to the analyst, this is a sign of the network’s use case. It also shows the optimism of those in the cryptocurrency space regarding this altcoin project.
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