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The altcoin market is heading into the weekend with heightened volatility. While some tokens are extending strong rallies and reaching new highs, others are testing critical support levels after steep declines.
BeInCrypto has analysed three such altcoins that could hit new extremes this weekend.
Kite ($KITE)
$KITE has emerged as one of the best-performing tokens this week, posting a 22.8% rise. During this rally, $KITE reached a new all-time high ($ATH) of $0.323 today, reflecting strong investor interest and market optimism. The price movement shows potential for further gains if momentum holds.
$KITE’s rally is supported by strong investor sentiment, as buying pressure remains consistent. Active inflows into $KITE suggest the potential for continued upward movement. With sustained support, $KITE could push toward $0.369, creating new ATHs. The buying interest indicates the altcoin could see additional price increases in the near term.
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$KITE Price Analysis. ">
However, if investor sentiment shifts and selling pressure increases, $KITE’s price could face a setback. A decline below the $0.278 support level would signal weakness, sending $KITE toward $0.240 or lower. This drop would invalidate the bullish outlook, signaling a potential reversal for the token.
Lighter ($LIT)
Another one of the altcoins to watch this weekend is $LIT, which has dropped 18% over the past week, reaching a new all-time low (ATL) of $1.15 today. This decline followed the loss of the crucial $1.31 support level, triggering the sharp price drop. The market sentiment has turned negative, highlighting the struggles $LIT faces.
At this point, ATLs often mark a potential reversal point. If the decline attracts buyers at the low price, $LIT could bounce off $1.15 and rise toward $1.40. However, this will only happen if the price can reclaim the $1.31 resistance level, signaling renewed investor confidence.
$LIT Price Analysis">
If the bearish momentum persists and $LIT falls below the $1.15 support level, it could crash to $1.10. This would invalidate the bullish outlook, forming a new ATL and indicating continued downside pressure for the altcoin.
Official Trump ($TRUMP)
$TRUMP is experiencing a decline, down 6% today and trading at $3.21. Investors should be cautious, as the token is approaching its all-time low (ATL). The bearish trend could soon accelerate, triggering further price drops unless the market sees a shift in sentiment.
$TRUMP is currently holding above the $3.18 support level, but if the bearish trend continues, the token may fall to its ATL of $3.02. The Chaikin Money Flow (CMF) highlights increasing outflows, indicating that the selling pressure is growing. These factors suggest that $TRUMP could see further declines if the current trend persists.
$TRUMP Price Analysis. ">
If $TRUMP experiences a shift in momentum or investor sentiment, the price could bounce off the $3.18 support level. A break above $3.44 would signal a recovery, invalidating the bearish outlook and indicating potential for price gains. Investors should monitor these key levels for signs of reversal.
The post 3 Altcoins To Watch This Weekend | March 7 – 8 appeared first on BeInCrypto.
