3 Notable Altcoins This Weekend | November 15 - 16

In the past week, Bitcoin slipped below the 100,000 USD threshold, creating a bleak picture for the crypto market. In this context, most altcoins seem to have to rely on external factors to determine the next trend. This can both present opportunities and pose many risks for the tokens.

Coinphoton has analyzed three prominent altcoins to watch this weekend, with the potential for strong fluctuations in both upward and downward directions.

Arbitrum (ARB)

ARB is currently trading at 0.241 USD, after dropping by as much as 21% in just the past 24 hours. Increased selling pressure ahead of the token unlock event this weekend has made market sentiment extremely fragile. This instability has raised concerns that the new supply will further drive price volatility, while also limiting ARB's short-term recovery potential.

According to the plan, 92.65 million ARB ( equivalent to more than 22.35 million USD) will be released, which may continue to create downward pressure in the context of an unstable market. If the selling momentum continues to increase, the price of ARB risks falling to the psychological support area of 0.200 USD, opening up the scenario for deeper losses if market sentiment continues to deteriorate.

ARB Price Analysis | Source: TradingViewConversely, if ARB maintains the 0.242 USD mark and avoids a sharp decline, this coin could recover to 0.295 USD. Breaking through this level will signal a return of investor confidence, completely nullifying previous negative forecasts and opening up a reversal opportunity for short-term traders.

Undead Games (UDS)

UDS is one of the few tokens that still maintains trading close to its historical peak, demonstrating intrinsic strength despite the general weakening of the market. Currently, this coin is only 23% lower than its peak of 2.90 USD, reflecting solid demand and a more limited supply compared to many assets that are under strong correction pressure.

The narrowing of the Bollinger Bands indicates that UDS is preparing for a significant price movement. Weekend trading often amplifies volatility, and if a bullish trend emerges, the price of UDS could easily surpass the 2.59 USD level. A steady upward momentum could help this token retest the 2.90 USD peak, while also attracting more interest from investors.

USD Price Analysis | Source: TradingViewHowever, if selling pressure prevails, USD could drop below important support levels of 2.29 USD and 2.14 USD. Breaking these thresholds will negate the bullish trend and put the token at risk of deeper corrections, demonstrating that investor sentiment can change very quickly as the crypto market enters a phase of high volatility.

Berachain (BERA)

Another notable altcoin this weekend is BERA, currently trading at 1.42 USD after a 15.6% decline over the past week, reflecting increasing instability in the crypto market. Although the Ichimoku Cloud indicator shows bullish momentum, its position above the candles contradicts the current trend.

The deployment of Berachain's claims page may help stabilize the price of BERA. This tool allows users affected by the Balancer v2 and BEX incident to recover lost deposits, thereby supporting market sentiment. If demand improves, BERA could maintain above 1.41 USD or even recover to the 1.57 USD level.

BERA Price Analysis | Source: TradingViewConversely, if the bullish momentum weakens and the compensation request fails to revive confidence, BERA may break the support level of 1.41 USD, leading to a risk of a deeper decline to 1.31 USD. This scenario would invalidate the bullish argument and signal a continued increase in risk amidst the still volatile market.

In summary, this weekend promises to be very active with strong fluctuations of the aforementioned altcoins. Investors need to closely monitor internal factors as well as market developments to make appropriate decisions.

Mr. Giáo