Expect the last weekend of the month to be relatively calm with easing geopolitical tensions. As concerns related to Greenland diminish, cryptocurrency markets may regain stability and find a clearer direction.
The BeInCrypto team analyzed three alternative cryptocurrencies that appear to be poised for a potentially positive weekend.
Tezos (XTZ)
The XTZ coin enters the weekend with a major upcoming catalyst as the Talin upgrade is activated. The upgrade aims to enhance the network's efficiency, speed, and security. Protocol upgrades often impact short-term price movement, making Tezos one of the closely monitored assets as traders position themselves in anticipation of potential volatility.
Technical indicators suggest a potential breakout. Bollinger Bands are converging, indicating compressed volatility. If the expansion coincides with the Talin upgrade, it may push XTZ's price above $0.59 and $0.62. A successful breakout could drive Tezos towards the resistance level at $0.66.
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Bullish scenarios depend on market reaction. If traders fail to respond positively, the price may remain within a defined range. In that case, XTZ is likely to continue consolidating between $0.55 and $0.62, reflecting a state of neutrality despite the protocol upgrade.
Seeker (SKR)
SKR performed strongly this week, surging by 335% after launch and recording a new all-time high of $0.0597. The rapid rise attracted speculative interest before profit-taking began. The early momentum made SKR a highly volatile asset, drawing active participation from short-term traders.
After the peak, SKR retraced by 23.6% and is now trading near $0.0390, maintaining its level above support at $0.0385. Currently, sell orders are outpacing buy orders. If this negative balance persists into the weekend, downward pressure may increase, pushing SKR towards the next major support level near $0.0205.
The direction's reflection remains possible if sentiment changes. Renewed buying interest can stabilize price movement and drive a recovery. Recovering the level of $0.0517 will be a crucial step, opening the door for SKR to test the previous peak and possibly record a new historical high.
Canton (CC)
CC is one of the few altcoins showing bullish momentum as the weekend approaches. The money flow index indicates increasing buying pressure, signaling rising investor interest. This phase of accumulation suggests that CC may continue to move upwards as market conditions stabilize and traders lean towards assets displaying relative strength.
CC is trading near $0.142 at the time of writing this report, slightly below the resistance level of $0.148. A successful breakout could drive the price towards $0.164. This move would bring CC closer to its historical peak of $0.177, which remains about 24% above current levels.
The bullish scenario relies on breaking resistance. If it fails to break $0.148, selling pressure may renew. In this scenario, the price of CC may retreat towards the support level of $0.133, nullifying the bullish hypothesis and delaying any attempt to approach the historical peak.
