With the end of May, many market cryptocurrencies await important events: for example, large updates or fuss of tokens. For altcoins, this can be a price catalyst that will allow them to follow bitcoin (BTC)
We talk about three altcoins, to which investors should pay attention to the week of May 25 – June 1.
BNB
It is expected that the BNB price will soon increase thanks to the upcoming Maxwell hardfort on Binance Smart Chain (BSC). This update promises a faster blocking time, improved network efficiency and more smooth performance, which can increase the trust of investors and use the platform.
Harder Maxwell can be a key catalyst to increase activity on the network. At the time of publication, the BNB is traded at $ 672 and is faced with resistance levels of $ 686 and $ 700. A strong market reaction to update can reduce 18%gap to the historical maximum (ATH) BNB $ 793.
However, if the reaction to the hardfort is weak, the BNB risks getting stuck under a mark of $ 686. This threatens to cancel the bull forecast and slow down the current ascending trend, as traders will wait for more clear signs of a sustainable impulse.
Zilliqa (zil)
The price of Zil has decreased by 14.7% over the past two weeks – from $ 0.0149 to $ 0.0127. This fall is probably due to delays in the launch of the main network Zillqa 2.0. However, any positive migration update can cause a new growth for token.
Investors should monitor the news about Zilliqa 2.0, since favorable events can push the price of ZIL to resistance at $ 0.0137. Overcoming this level can restore optimism and signal the possible restoration of this altcoin.
If ZIL fails to use the impulse, the price will threaten the consolidation in the range between $ 0.0125 to $ 0.0137. A similar sidewall will weaken an optimistic forecast.
Optimism (OP)
The price of OP has recently remained predominantly stable, but upcoming events can cause growth. A large outflow of 31.34 million OP tokens planned this week (worth $ 24.22 million) is able to lead to a price increase.
At the time of writing, OP is traded above the cloud of Ishimoku, which indicates potential power. So, OP has a chance to overcome resistance at $ 0.80 and continue to increase at $ 0.90, attracting more interest from investors.
If the price cannot overcome $ 0.80, then the bull forecast will be canceled. In this case, the token runs the risk of decreasing to $ 0.69 or even lower.
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Source: Cryptocurrency
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