The cryptocurrency market is showing strong signals indicating that the altcoin season is imminent this week. Meanwhile, several altcoins are undergoing notable network developments, adding to the optimism.
BeInCrypto has analyzed the three altcoins with the highest potential for rise in the coming week.
Cronos (CRO)
The Cronos price is showing signs of continuous growth ahead of the POS v6 upgrade scheduled for July 28. This important update will enhance cross-chain compatibility and overall performance.
This development has sparked positive sentiment among investors and may lead CRO to a strong upward trend.
CRO is currently trading at $0.124 and is attempting to secure $0.121 as a reliable support level. A successful rebound could send the altcoin to $0.133. Notably, the potential crossover of the 50-day moving average above the 200-day moving average suggests a bullish golden cross may soon form.
However, overall market changes could challenge the bullish outlook. If bearish momentum increases, Cronos may lose its current support and drop to $0.108. Such a decline would invalidate the current positive structure.
Conflux (CFX)
Conflux (CFX) has become one of the top altcoins, showing a major rally in recent days. Boosted by the recent Conflux conference in Shanghai, CFX surged 97.5% in the past 24 hours. This altcoin is currently trading at $0.20, attracting investors' attention with high momentum and newly formed community optimism.
Expectations continue to grow as Conflux prepares for the 3.0 upgrade scheduled for early August. This important milestone could act as a bullish catalyst. If CFX rebounds from the $0.17 support level, the altcoin could break through $0.24 and rise to a major psychological mark of $0.30 in the short term.
However, risks remain as investors begin to secure substantial profits. If it falls below the $0.17 support, CFX could drop further to $0.11. Such a move would reverse the current bullish momentum, overwhelming the altcoin's rally with bearish sentiment and causing traders to reassess their expectations.
Bitget Token (BGB)
Major cryptocurrency exchange Bitget announced a partnership with Pudgy Penguins this week in Kuala Lumpur for a wellness escape.
While this event is not directly related to cryptocurrency, such collaborations often lead to more influential partnerships, potentially increasing brand visibility and investor interest across the meme coin and exchange ecosystem.
The BGB price could rise following this news, especially as technical indicators support a bullish outlook. The Parabolic SAR positioned below the candlestick confirms an active upward trend.
If momentum is maintained, the altcoin could exceed $5.05, helping Bitget's token recover losses from the May market correction.
However, bearish pressure on BGB may still exist in the short term. If the price falls below the key support level of $4.83, additional losses could pull the token to $4.46. Such a move would invalidate the bullish outlook and indicate weakening investor sentiment despite positive market developments.
Want more token insights? Subscribe to the daily crypto newsletter by BeInCrypto editor Harsh Notariya here.
