3 notable altcoins for the weekend of July 26-27

The crypto market reversed in the middle of the week, shifting from an upward trend to a fall, causing concern among many investors. The weekend is known for being a period of high volatility, so some altcoins may fluctuate in unpredictable ways.

Therefore, the article has chosen three prominent tokens that investors should monitor, whether positively or negatively.

Conflux (CFX)

Conflux (CFX) is one of the best-performing altcoins this week, with an impressive increase of 85%. Currently trading around $0.184, this altcoin is on the path to recovery and is expected to continue growing. The current price volatility reflects renewed interest from investors, while also indicating that the upward trend is still ongoing, supported by the overall positive market sentiment.

The formation of a golden cross between the 50-day EMA and the 200-day EMA further reinforces the bullish outlook for CFX. When the 50-day EMA crosses above the 200-day EMA, it signals that an upward momentum is forming, opening up the possibility of a strong price increase. If this occurs, CFX could surpass the current resistance level at $0.194 and aim for the target of $0.24.

CFX Price Analysis | Source: TradingViewHowever, if investor sentiment changes and selling pressure increases, CFX may face the risk of a significant price fall. A wave of sell-offs could drive the price down to $0.146, erasing most of the recent gains. This downside risk highlights the importance of maintaining investor confidence to sustain the upward momentum for CFX.

Pudgy Penguins (PENGU)

Pudgy Penguins (PENGU) increased nearly 5% in the past 24 hours, currently trading at $0.038. This altcoin has slipped below the support level of $0.04 after failing to break the all-time high (ATH) of $0.046. This downward move indicates that momentum is weakening and there is instability in investor sentiment.

Despite facing recent obstacles, many investors still hope for a new peak. The Parabolic SAR indicator is below the price candles, indicating that the uptrend is still ongoing, implying that PENGU may continue to rise. If market conditions stabilize again, the price could restore its upward momentum and even surpass the previous ATH.

Analysis of PENGU price | Source: TradingViewHowever, if the market shifts to a downtrend, PENGU may incur further losses. The price could fall to the support level of 0.029 dollars, invalidating the previous bullish outlook.

Pump.fun (PUMP)

Pump.fun (PUMP) has recorded a strong fall of 25% at its lowest point in the past 24 hours, currently trading at 0.0026 dollars. This altcoin continues to lose momentum in the market, indicating the risk of further decline.

The next important support level for the token is at $0.0021. If the selling pressure continues, this level may be tested by the end of this week. This could trigger the next wave of selling from PUMP holders, making the token more susceptible to a deeper correction.

PUMP Price Analysis | Source: TradingViewHowever, since PUMP has recovered from today's fall, it may hold the support level at $0.0024. If it successfully recovers at this level, PUMP could open up a bullish momentum past the $0.0029 mark, pushing the altcoin towards the $0.0038 price range.

Dinh Dinh