With the market seemingly starting to shift from bullish to bearish, the question now arises whether the recent altcoin rally will hold or not. While some altcoins may be heavily reliant on external developments, others are still following the direction of BTC movements.
Therefore, BeInCrypto has analyzed the following three altcoins that have the potential to surprise investors this weekend.
Chiliz (CHZ)
Chiliz seems poised for a potentially bullish weekend after announcing the Chiliz 2030 vision. This long-term roadmap focuses on the development of sports blockchain and driving real-world adoption. This strategic update has improved sentiment towards CHZ, placing this altcoin in a better position in the eyes of investors assessing the future growth prospects of the network.
Although this announcement may not be enough to trigger a full recovery, the announcement could maintain interest after a weekly rally of CHZ by 30%. Currently, CHZ is trading at US$0.057 and is likely to consolidate near the current price level. If CHZ can hold above US$0.053, it indicates stability suggesting that buyers remain active until the weekend even though the short-term catalysts are limited.
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The risk of downward movement still exists as momentum indicators show caution signs. The Money Flow Index indicates overbought conditions, suggesting that buying pressure may have peaked. If profit-taking begins to increase, CHZ could fall below US$0.053. A deeper correction to the US$0.050 area would negate the neutral outlook and affirm short-term bearish pressure.
Dash (DASH)
DASH has become one of the best-performing cryptocurrencies this week after soaring 114% in just seven days. Currently, the altcoin is trading near US$80, supported by very strong buying momentum. Although a significant rally has already occurred, DASH is still 24.8% below the US$100 level, prompting traders to continue monitoring whether this rally strength can be sustained.
The recent price increase of DASH occurred after merchant adoption increased, one of which was when Alchemy Pay integrated the DASH network. However, momentum indicators show caution. Chaikin Money Flow shows bearish divergence, where prices make higher highs while CMF weakens. This indicates capital outflow behind the DASH rally, thus increasing the risk of downward price movement.
If selling pressure intensifies, DASH could lose support at US$74 and drop to the range of US$63 in the near future. This movement would confirm a correction phase. Conversely, if capital inflows return, prices could stabilize. Sustained demand would allow DASH to extend its gains and attempt to challenge the US$100 level next week.
Polygon (POL)
One of the other altcoins to watch this weekend is POL, which was very volatile in January with a rally of 46% last week as bullish sentiment dominated early trading. However, that momentum quickly faded. High market uncertainty caused sharp price movements, leading POL to drop 15.6% this week.
This sudden reversal shows extremely fragile market confidence and illustrates how quickly speculative demand can evaporate.
Capital inflow to POL has also significantly weakened in recent sessions, making POL one of the first altcoins to be abandoned by investors. Chaikin Money Flow shows that inflows have completely dried up. If outflows dominate the market, downward pressure could become even stronger. In such conditions, the price of POL is at risk of falling to the US$0.138 support zone.
A bullish reversal is still possible if sentiment in the market improves overall. Accumulation that occurs again could push POL back up to the support at US$0.155. If the price holds at this level, short-term confidence could recover. With sustained buying, POL has the potential to extend its recovery towards US$0.183, thus negating the current bearish outlook.
