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The crypto market is diving into the end of August and will soon begin the final month of Q3; however, before the end comes the final weekend, which could likely be filled with volatility and developments.
Thus, BeInCrypto has analysed three such altcoins that could see a sharp move this weekend.
Avalanche ($AVAX)
Avalanche is drawing investor attention this weekend as Treehouse, a DeFi fixed income layer, prepares to launch on the network through tAVAX. The development highlights Avalanche’s growing ecosystem and could attract new capital inflows.
If $AVAX manages to secure $24.93 as a reliable support level, its price could see upward movement. A bounce from this range would provide strength for a potential rally toward $25.00. Such a move would mark a recovery from recent volatility and reinforce bullish signals for the altcoin.
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On the downside, Avalanche remains vulnerable if selling pressure persists. A break below $23.90 support could expose $AVAX to further losses, sending the price toward $22.76. This decline would invalidate the bullish outlook.
Cardano ($ADA)
Cardano is a crucial altcoin to watch this weekend with a key development on the horizon. An independent audit of Input Output Global’s $ADA reserves, requested by founder Charles Hoskinson after $600 million misuse claims, aims to address transparency issues. The outcome could significantly impact investor confidence and sentiment.
The audit could act as a catalyst for $ADA, lifting the price from $0.82 toward $0.90. Securing this level of support may enable further growth, potentially driving the altcoin to $0.96. The Ichimoku Cloud currently signals bullish momentum, reinforcing the possibility of upward movement.
However, Cardano remains vulnerable if holders choose to sell during uncertainty. A breakdown below $0.80 could trigger further losses, sending $ADA toward $0.75. Such a decline would erase recent progress and invalidate the bullish outlook.
Optimism (OP)
OP is trading at $0.697, holding above its $0.68 support level at the time of writing. The Ichimoku Cloud highlights a bullish signal, suggesting that Optimism may maintain short-term stability. This indicator reflects continued market interest, offering support for the altcoin’s efforts to stay afloat despite broader market pressures.
Optimism faces a significant test with a scheduled unlock of 31.34 million OP tokens, valued at more than $21.87 million, expected this weekend. Such events often increase selling pressure.
If investors choose to accumulate during the unlock, OP may continue consolidating above $0.68. This would provide a stable base for potential growth. However, if holders remain static or shift to selling, the altcoin could lose its critical support, slipping through $0.68 and targeting $0.63, invalidating the bullish-neutral outlook.
The post 3 Altcoins To Watch This Weekend | August 30 – 31 appeared first on BeInCrypto.