Major Developments in Crypto: Key Altcoins to Monitor During US Crypto Week

As US legislators prepare for a pivotal week in cryptocurrency regulation, the focus is firmly on Washington and market reactions. With Congress poised to discuss various crypto-related bills, including those addressing stablecoins and the classification of digital assets, traders are bracing for increased market fluctuations. BeInCrypto has identified three altcoins that warrant close attention during this crucial period.

Sonic (S): Anticipated airdrop Sparks Interest

Sonic is set to launch the first season of its native token, S, with an airdrop scheduled between July 15 and 22. This eagerly awaited event is likely to generate significant interest, potentially driving demand and positively impacting the token’s price in the near future.

Analysts predict that Sonic’s price could rise beyond $0.381, possibly reaching $0.440, as the Relative Strength Index (RSI) indicates strong bullish momentum. This suggests that Sonic is well-positioned for further gains, particularly if the airdrop attracts substantial investor engagement.

However, should selling pressure emerge post-airdrop, Sonic may struggle to hold its gains. In such a scenario, the price could retreat to the $0.329 support level or even drop to $0.299, which would undermine the current bullish sentiment.

Mantle (MNT): Network Upgrade Fuels Optimism

Mantle’s price has experienced a notable increase of 7.2% over the past 24 hours, currently trading at $0.70. This growth is attributed to an upcoming network upgrade, the Sepolia upgrade, set for July 16, which aims to enhance MNT’s functionality and could elevate its market value as investor interest grows.

The Sepolia upgrade will fully integrate features from the Ethereum Prague upgrade, potentially pushing MNT’s price towards $0.72. The Parabolic SAR indicator suggests a clear upward trend, indicating sustained bullish momentum if market conditions remain favorable.

Conversely, if MNT holders opt to take profits, the altcoin may face a sharp correction. In this case, prices could decline to $0.66 or even $0.63, which would invalidate the current optimistic outlook and signal potential market instability.

Official Trump (TRUMP): Unlocking Tokens and Market Reactions

Official Trump is currently navigating volatility due to the announcement of new tariffs affecting multiple countries. Nevertheless, the scheduled unlocking of 90 million TRUMP tokens this week could significantly influence market dynamics. The influx of $876 million worth of tokens may lead to a price increase, altering demand patterns.

The unlocking event could propel TRUMP’s price upward, with expectations of establishing $9.63 as a support level. If successful, TRUMP could rise to $10.97, marking a monthly peak. The MACD indicator is showing strong bullish momentum, suggesting a continued upward trend in the near term.

However, if the increased supply leads to waning interest and selling pressure, TRUMP’s price might drop to $9.04. A breach of this support level could invalidate the bullish outlook, potentially pushing the altcoin down to $8.43, erasing the 12.8% gains made earlier this week.

Disclaimer

This article is intended for informational purposes only and should not be construed as financial or investment advice. BeInCrypto strives for accuracy and impartiality in reporting, but market conditions can change rapidly. Always conduct your own research and consult with a financial professional before making any investment decisions. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.