3 Altcoins To Watch This Weekend | August 30 – 31

The crypto market is diving into the end of August and will soon begin the final month of Q3; however, before the end comes the final weekend, which could likely be filled with volatility and developments.

Thus, BeInCrypto has analysed three such altcoins that could see a sharp move this weekend.

Avalanche (AVAX)

Avalanche is drawing investor attention this weekend as Treehouse, a DeFi fixed income layer, prepares to launch on the network through tAVAX. The development highlights Avalanche’s growing ecosystem and could attract new capital inflows.

If AVAX manages to secure $24.93 as a reliable support level, its price could see upward movement. A bounce from this range would provide strength for a potential rally toward $25.00. Such a move would mark a recovery from recent volatility and reinforce bullish signals for the altcoin.

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On the downside, Avalanche remains vulnerable if selling pressure persists. A break below $23.90 support could expose AVAX to further losses, sending the price toward $22.76. This decline would invalidate the bullish outlook.

Cardano (ADA)

Cardano is a crucial altcoin to watch this weekend with a key development on the horizon. An independent audit of Input Output Global’s ADA reserves, requested by founder Charles Hoskinson after $600 million misuse claims, aims to address transparency issues. The outcome could significantly impact investor confidence and sentiment.

The audit could act as a catalyst for ADA, lifting the price from $0.82 toward $0.90. Securing this level of support may enable further growth, potentially driving the altcoin to $0.96. The Ichimoku Cloud currently signals bullish momentum, reinforcing the possibility of upward movement.

However, Cardano remains vulnerable if holders choose to sell during uncertainty. A breakdown below $0.80 could trigger further losses, sending ADA toward $0.75. Such a decline would erase recent progress and invalidate the bullish outlook.

Optimism (OP)

OP is trading at $0.697, holding above its $0.68 support level at the time of writing. The Ichimoku Cloud highlights a bullish signal, suggesting that Optimism may maintain short-term stability. This indicator reflects continued market interest, offering support for the altcoin’s efforts to stay afloat despite broader market pressures.

Optimism faces a significant test with a scheduled unlock of 31.34 million OP tokens, valued at more than $21.87 million, expected this weekend. Such events often increase selling pressure. 

If investors choose to accumulate during the unlock, OP may continue consolidating above $0.68. This would provide a stable base for potential growth. However, if holders remain static or shift to selling, the altcoin could lose its critical support, slipping through $0.68 and targeting $0.63, invalidating the bullish-neutral outlook.