Bitcoin breakthrough (BTC) above the level of $ 100,000 was a bull signal for many altcoins. Especially against the rest of the rest, three tokens distinguished themselves, which showed impressive results.
We tell you what three altcoin and why it is worth paying attention to this week.
Sonic (S) (earlier fantom)
The price of Sonic has increased by 22% from the beginning of the month, reaching $ 0.60. However, despite the recent successes, Sonic has not yet completely recovered from the March losses, and the price remains under pressure due to previous downs.
The Sharding update, planned on May 15, may become a key factor in the restoration of Sonic. It is expected that this update will increase the speed of transactions and reduce the load on the network, which can contribute to the further growth of altcoin. If everything goes successfully, Sonic will get a chance to rise to $ 0.74, compensating for the March losses.
However, if a profit fixation begins, it may not overcome resistance at $ 0.60. A breakdown below this level threatens to lead to a decrease in Sonic to $ 0.50, which cancel the current bull forecast.
Arbitrum (arb)
ARB has grown by 51% over the past five days and at the time of writing is traded at $ 0.47. This makes him one of the leaders of the week. However, with an unlocking of 92.65 million ARB tokens planned on May 16, tokens in the amount of $ 43 million will enter the market, which can cause price fluctuations.
Before unlocking, ARB can continue to grow. The Ishimoku cloud is now below the candles, which indicates a possible bull trend. If it is preserved, ARB will receive a chance to overcome $ 0.51 and reach $ 0.55. Strong support of customers can contribute to further growth in the near future.
However, if the ARB does not hold the support level of $ 0.47, the price is possible. The upcoming sketch threatens to strengthen this fall by lowering ARB to $ 0.38. This will cancel the current bull forecast and indicate a bearish turn.
Jupiter (JUP)
JUP has shown almost 40%growth over the past few days and is now trading in $ 0.58. To achieve key resistance by $ 0.68, altcoin needs to grow by another 16%. The current dynamics encourages, but for further growth it is necessary to fix the support level by $ 0.57.
This week, significant development is expected for JUP. The Jupiter exchange reported that 2.5% of the Jupol transactions commission will be sent to Jupiter DAO. This new source of income can provide additional liquidity and positive mood, maintaining an increase in the price of JUP in the near future.
If the new income model strengthens the trust of investors, JUP can overcome $ 0.68, provided that it will hold the support level of $ 0.57. However, if altcoin cannot be gained at this level, it is possible to fall to $ 0.47, which will cancel the bull forecast and nullify recent successes.
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Source: Cryptocurrency
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