3 Altcoins to Watch This Weekend | July 19 – 20

The cryptocurrency market is currently experiencing an optimistic wave, driven by Bitcoin's recent All-Time-High and the US House of Representatives passing the CLARITY and GENIUS Acts. This positive momentum is expected to continue through the weekend, potentially benefiting altcoins.

BeInCrypto has analyzed three altcoins that are likely to increase in price this weekend, potentially pushing prices higher.

Lido DAO (LDO)

The LDO price has increased 22% in the past 24 hours, reaching $1.13, following BitGo's announcement of supporting native ETH staking through the Lido protocol. This move makes BitGo the first US custodian to support ETH staking via Lido, enhancing confidence in this altcoin and its future development.

This announcement is expected to further drive LDO's price over the weekend, potentially pushing it past the $1.18 resistance level. With strong support indicated by the Parabolic SAR below the candles, LDO could rise to $1.34, marking a 4-month high. This upward trend signals continued price momentum for the token.

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However, if LDO fails to break the $1.18 resistance level again, it may face selling pressure. A drop to $1.07 is possible, and losing this support could push LDO down to $0.99, negating the price increase prospects and signaling a potential downward trend.

Ethereum Classic (ETC)

ETC price has increased 15% in the past 24 hours, reaching $23.01. The altcoin is currently facing resistance at $24.52. For ETC to rise further, it will need strong support from investors. Overcoming this barrier is crucial to maintaining recent momentum and reaching new price levels.

With Ethereum reaching a 6-month high, Ethereum Classic (ETC) is likely to benefit from its growth. ETH's increase could push ETC past the $24.52 resistance, paving the way for a rise to $27.21. This would be a significant milestone for the altcoin as it continues to gain momentum.

However, the Relative Strength Index (RSI) indicates that ETC is overbought, sitting above the 70.0 threshold. Historically, this signals a potential reversal for this altcoin. If the market cools down, ETC could drop to $20.81, erasing recent gains and invalidating price increase prospects.

Cardano (ADA)

Cardano's price has increased 13.79% in the past 24 hours, reaching $0.87. The altcoin has benefited from broader market optimism and Bitcoin's momentum. This drive has supported ADA's price increase, and with continued investor confidence, the upward trend may continue.

In the past week, Cardano (ADA) has increased 39%, bringing it closer to the important $1.00 mark. To reach this price, ADA must overcome the $0.93 resistance. The 50-day EMA is showing an upward trend, signaling a potential Golden Cross that could drive ADA's price increase in the coming days.

However, ADA may face correction if the market turns bearish. If Cardano drops below the $0.85 support, it could fall further to $0.80 or $0.74. This scenario would invalidate the current price increase argument, indicating a potential reversal in the altcoin's price trajectory.