The first month of Q4 2024 was expected to bring about the altcoin season. While the market is far from experiencing it, certain altcoins are still making waves for reasons beyond just investors’ sentiment.
Three altcoins are set to make waves in the upcoming week for reasons extending beyond investors’ sentiment. Worldcoin (WLD), Cardano (ADA) and Dogecoin (DOGE) are all poised for crucial developments.
Worldcoin is preparing to launch World Chain, a new blockchain designed to enhance digital identity and security. This development is likely to pique the interest of crypto enthusiasts, especially those concerned with the safety and efficiency of digital identity management.
Currently, WLD is encountering a strong resistance at $2.46. However, if the coin breaks past this barrier, it could rally toward $3.00, signaling a 21% increase. On the other hand, a failure to breach this resistance may lead to a pullback, potentially pushing the price down to $2.11.
Cardano, meanwhile, is preparing to unlock 18.53 million ADA tokens, an event that usually signals a bearish trend. But, interestingly, the last token unlock on October 17 saw a surprising 7% price increase.
This occurrence has raised expectations that ADA could see a similar boost this time around. If so, it could help the altcoin breach the $0.371 resistance, pushing the price toward $0.400.
However, if ADA fails to break past the $0.371 barrier, it may continue to consolidate within a range, remaining above the $0.339 support.
Finally, Dogecoin is benefiting from the growing market interest in meme coins. This renewed enthusiasm in the broader crypto space has given DOGE a solid boost, aligning it with the current trend of speculative meme coin trading.
Over the past week, DOGE has seen a 33% increase, and it is expected to continue its upward trajectory. Should the price stay above $0.147, DOGE could experience an 18% increase, testing the resistance at $0.176.
A breakout at this level would mark a six-month high. However, meme coin holders are known to opt for profit-taking when prices rise, so if Dogecoin experiences a wave of selling, the price could face a steep decline, potentially dropping to $0.130.