3 Altcoins to Watch This Weekend | 09 – 10/08

This week, the global cryptocurrency market capitalization increased slightly by 2% despite a widespread sideways trend across many assets.

In this context, some altcoins have stood out and been notable as they entered the weekend of 09-10/08. They have recorded significant increases during the week and shown strong potential to continue their upward momentum in the coming days.

Mantle (MNT)

Mantle has emerged as the best-performing altcoin over the past week, with prices rising over 45%. According to Santiment, this price increase was accompanied by a steady increase in daily trading volume.

Over the past seven days, MNT's trading volume has increased 250%, reaching $753 million at the time of writing.

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When an asset's price increases along with a rise in trading volume, it indicates strong market interest and confidence in this movement. MNT's increasing daily trading volume confirms that its price action is supported by many investors actively participating with the asset, making the trend more reliable.

If the current buying momentum continues, MNT's price could rise to $1.14 in the short term.

However, if demand decreases and buying pressure weakens, the token's price risks falling below $1.

Pump.fun (PUMP)

PUMP, the native token of the pump.fun utility coin launch platform, is another altcoin to watch this weekend.

Trading at $0.0033 at the time of writing, its price has increased 31% over the past week, making it one of the best-performing altcoins during that period.

The token's Elder-Ray indicator suggests a high likelihood that the token will continue to expand its upward momentum in the upcoming weekend trading sessions. At the time of writing, this indicator stood at 0.000275, recording only positive values in the past four trading sessions, an encouraging sign for sustained growth.

The Elder-Ray indicator measures the balance between buying and selling pressure in the market by separately analyzing upward and downward forces. A positive indicator suggests buyers are dominant and pushing prices higher.

If PUMP buyers continue to control the market, they could push its price to $0.0040.

Conversely, if selling pressure increases, PUMP could lose some of its gains and drop below $0.0032.

MemeCore (M)

MemeCore has increased 24% over the past week, rising to $0.44. However, signs of strong selling are beginning to emerge. This is reflected in the Chaikin Money Flow (CMF) indicator, which is currently oscillating around the zero line and appears about to drop below it.

This suggests potential downward price pressure on the token's price, making M an important asset to watch this weekend.

The Chaikin Money Flow (CMF) is a volume-weighted indicator that measures buying and selling pressure over a specific period by analyzing price and volume data. When CMF is above zero, it indicates buyer dominance and accumulation, while an indicator below zero signals selling pressure and distribution.

Similar to M, a CMF about to drop below the zero line suggests that sellers may gain control, increasing the likelihood of a price decline.

If profit-taking continues, M's price could drop to around $0.41.

Conversely, if buying interest remains strong, the token could continue to rise, reaching $0.47 in the short term.