Although the cryptocurrency market started the week on a bearish tone and seems likely to end it in the same direction, some altcoins have shown relative resistance and stability compared to the rest of the market. BeinCrypto highlighted three altcoins worth monitoring over the weekend:
1. Optimism (OP) Coin
Despite a decline of only 3.5% this week, OP has been among the least affected coins. This relatively good performance makes it one of the top coins to watch, especially with the upcoming 'Superchain 16 Upgrade' that includes significant improvements in smart contracts to enhance interoperability between networks.
As OP continues to be correlated with Bitcoin's movement, any improvement in BTC's price could push OP to break the $0.70 level and possibly reach $0.765. Conversely, if the market fails to maintain positive momentum, breaking the support level at $0.63 could lead to a decline towards $0.59, weakening the positive outlook for the coin.
2. Conflux (CFX) Coin
CFX recorded a rise of 22% this week, making it one of the top performers despite market volatility. The continued upward performance of the coin is supported by the Parabolic SAR indicator signal, which is currently below the candles, indicating a sustained upward trend.
If the price manages to surpass the resistance levels at $0.219 and $0.240, we may see further gains in the near term. However, if investor sentiment shifts towards negativity, a drop below $0.1945 could lead to a decline towards $0.170, reflecting a reversal of the upward trajectory.
3. XDC Network (XDC) Coin
XDC has risen by 15.5% this week, trading now near an important psychological barrier at $0.100. This level represents strong resistance, but the recent positive performance indicates the possibility of a breakout.
The Relative Strength Index (RSI) has crossed the 50 mark, providing additional upward momentum. If the coin manages to turn resistance into support, we may see a new rise towards $0.108. However, if it fails to break $0.100, a drop below $0.088 could reverse the recent positive trend.
