The cryptocurrency market stays flat on Friday as Bitcoin holds its vary, however the weekend could not keep this quiet. Three setups stand out as clear altcoins to look at this weekend, every for a unique motive.
One token is attempting to set off a sentiment shift after weeks of injury. One other is combating to keep up an uptrend. And one has been shifting in opposition to the broader marketplace for days and will shock once more. With Bitcoin caught, these three could information a lot of the short-term motion.
Balancer (BAL)
Balancer is likely one of the extra delicate altcoins to look at this weekend, following its current November 3 exploit. The token dropped nearly 47% between late October and November 22 as confidence broke.
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Now, the venture plans to return roughly $8 million in recovered funds, which can carry a slight sentiment enhance.
From a worth perspective, BAL nonetheless trades inside a falling wedge, which is a bullish construction if the decrease band holds. Help close to $0.62 has stayed agency for days. The primary significant stage is $0.73.
A detailed above it breaks the wedge and opens a transfer towards $0.84. If momentum improves, the subsequent zone sits close to $0.99, the place the higher a part of the breakdown began.
The Bull Bear Energy indicator, which reveals whether or not patrons or sellers management the value, has printed shrinking crimson bars since November 26. Purple bars imply bears are in management; shrinking bars imply their power is fading.
This decline in bearish strain aligns with the wedge assist and the sentiment bounce following the compensation replace.
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If sentiment holds and the market stays regular, BAL might be one of many extra reactive weekend movers.
Need extra token insights like this? Join Editor Harsh Notariya’s Day by day Crypto E-newsletter right here.
Zcash (ZEC)
Zcash stays on the record of altcoins to look at this weekend as a result of its lengthy uptrend remains to be intact, however strain has elevated. The token has elevated in worth by greater than 1000% in three months, but it surely has dropped by about 25% over the previous seven days, indicating that its momentum has slowed. The important thing query for merchants is whether or not ZEC can maintain the uptrend.
There may be one early signal that it would.
Between November 11 and November 20, ZEC shaped the next low on the value chart whereas the RSI (Relative Energy Index) — a momentum indicator — made a decrease low. That is known as hidden bullish divergence.
It means the pattern stays robust beneath, even when the pullback seems heavy. The same sample emerged between October 30 and November 11, with ZEC rallying by nearly 74% instantly afterward.
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When the value holds increased however the RSI dips decrease, it typically alerts a continuation in robust markets.
For this case to play out once more, ZEC should reclaim $582, which has been blocked each try since November 23. If patrons break that stage, the subsequent main barrier sits at $743. A detailed above $743 would verify that the uptrend is again in management.
If ZEC drops below $440, the hidden bullish divergence breaks. That might imply a decrease low has shaped, and the short-term pattern turns fragile. In that case, the weekend setup weakens, and ZEC loses its continuation sign.
For now, Zcash nonetheless maintains a cleaner construction than most belongings and stays one of many technical altcoins to look at this weekend, so long as $440 stays intact.
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Pi Coin (PI)
Pi Coin is the final title on the record of altcoins to look at this weekend, and it earns that spot for one motive: it continues to maneuver in opposition to the market. Whereas Bitcoin is down about 19% and Ethereum is down 24% over the previous month, Pi Coin is down solely 7%. That reveals clear resilience. During the last seven days, PI is up greater than 12%, making it one of many few regular gainers in a weak market.
The chart now reveals why Pi Coin is value monitoring.
A bullish crossover is getting shut. The 20-day EMA is rising towards the 50-day EMA. An EMA is a shifting common that offers extra weight to current candles. When the shorter EMA crosses above the longer one, it typically alerts rising momentum.
If this crossover is accomplished, Pi Coin may try to reclaim the one stage it has not been capable of surpass since late October: $0.295.
A clear shut above $0.295 would verify power. That transfer requires nearly 15% from present ranges, however Pi Coin has already demonstrated its skill to outperform when the market slows.
Help ranges sit shut. The primary line is $0.252, which is just below the present worth. If that breaks, the subsequent helps are $0.232 and $0.220. Under that, a deeper drop may open $0.209, particularly if the bullish crossover fails to finish.