Cryptocurrency market volatility has left altcoins in limbo. Their future depends on external factors that could decide whether a recovery will occur
We talk about the key altcoins that are worth watching in the third week of March and figure out where their prices might go.
Solana (SOL)
Solana price is currently preparing for a possible rise. On March 17, the Chicago Mercantile Exchange (CME) is launching SOL futures, which is a major event for this altcoin. CME is one of the largest derivatives exchanges in the world, and this innovation could attract significant institutional investment in Solana.
In this case, the asset may gain momentum. The critical resistance level is at $161. Reaching it will mean a 24% price rally. However, for this rally to take place, SOL must first break the resistance levels at $135 and $148.
If Solana fails to break through 135 or 148, its price could pull back. A drop below these levels could send SOL back to 126 or even lower, to 118. Such a scenario would cancel the bullish outlook, delaying a possible recovery and putting the altcoin at risk of further declines.
Mantle (MNT)
The price of MNT has increased by 25% in the last week amid expectations of the upcoming Mantle network upgrade. On March 19, the Mantle mainnet will be upgraded via a hard fork. It will activate EigenDA and ensure compatibility with the upcoming Pectra upgrade on Ethereum. This event is causing optimism among MNT investors.
Following the update, MNT is expected to rally further, possibly to $1.00. The altcoin must break through the $0.87 and $0.94 resistance levels to continue the rally. A successful breakout of these levels would confirm the uptrend.
However, if MNT fails to break through $0.87, it may remain in consolidation. If it loses support at $0.79, the altcoin risks falling to $0.71. A drop to this level will cancel the optimistic forecast and may worsen market sentiment.
BNB altcoin analysis
Another altcoin to watch in March is BNB. Its price has risen 19.5% this week, reaching $635 at the time of writing. The altcoin has successfully broken through a key resistance block between $587 and $619. With optimism growing, BNB appears poised for further gains if market conditions remain favorable.
One of the key events for the project will be the upcoming Pascal hard fork, scheduled for March 20. This update will add EIP-7702 smart contracts, improve compatibility with the Ethereum Virtual Machine (EVM), and provide developers with more flexibility. These changes could strengthen investor confidence, which could push the BNB price above $647 and possibly to $686.
However, if the expected growth does not gain momentum, BNB could decline to $619. Losing this support could lead to further declines and send the altcoin back through the resistance block. It risks testing the support at $550, which would cancel the bullish forecast.
Источник: cryptocurrency.tech
