The crypto market will jump at the end of August and will soon begin the final month of the third quarter. However, the last weekend will have its final weekend. This could possibly be full of volatility and development.
Therefore, Beincrypto has analyzed three such altcoins that can be seen in sharp movements this weekend.
Avalanche (avax)
Avalanche is attracting investors’ attention this weekend. Treehouse, the Defi bond tier, is preparing to launch it over the network via Tavax. This development highlights the growing ecosystem of avalanches and could attract new capital inflows.
If Avax can secure $24.93 as a reliable support level, the price could see an upward movement. Bounces from this range provide strength towards $25.00 for potential gatherings. Such a move marks recovery from recent volatility and enhances Altcoin’s bull signal.
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On the downside, if sales pressure continues, avalanches remain vulnerable. A break below the $23.90 support could expose Avax to further losses and send the price to $22.76. This reduction negates bullish outlook.
Cardano (ADA)
Cardano is an important altcoin to see in critical developments on the horizon this weekend. An independent audit of Input Output Global’s ADA reserve, requested by founder Charles Hoskinson after a $600 million misuse claim, aims to address the issue of transparency. The outcome can have a significant impact on investor trust and feelings.
The audit will act as a catalyst for the ADA, increasing the price from $0.82 to $0.90. Ensuring this level of support will allow for further growth and could drive AltCoin to $0.96. The unilateral cloud now shows bullish momentum, reinforcing the possibility of upward movement.
However, if the holder chooses to sell during uncertainty, Cardano remains vulnerable. A breakdown of less than $0.80 can cause further losses, resulting in an ADA of $0.75. Such a decline erases recent advances and negates bullish prospects.
Optimism (OP)
The OP is trading at $0.697 and is above the $0.68 support level at the time of writing. One-sided cloud highlights bullish signals, suggesting that optimism could maintain short-term stability. This indicator reflects ongoing market interest and supports the efforts that Altcoin is floating despite wider market pressure.
Optimism faces significant tests that are expected to be over $21.87 million with scheduled unlocks of 3,134 million OP tokens. Events like this often increase sales pressure.
If investors choose to accumulate during unlocking, the OP can continue to consolidate over $0.68. This provides a stable foundation for potential growth. However, if the holder remains in a static or shift to sales, Altcoin loses critical support, slips over $0.68 and targets $0.63, and disables bull neutral outlook.
Post 3 altcoins to watch this weekend | August 30th to 31st made their first appearance on Beincrypto.
