3 Altcoins to Watch as Market Conditions Improve and Bitcoin (BTC) Breaks $100k

Market conditions have improved over the past week, and Bitcoin's re-entry above $100,000 has been a bullish trigger for many altcoins.

Despite the impressive gains realized by Bitcoin (BTC) and several altcoins, the market is still digesting the recent volatility. This follows a turbulent period that saw Bitcoin quickly lose the $90,000 support level and subsequently return above the $100,000 threshold.

While market conditions have improved over the past week, the potential for further growth remains for some crypto tokens, largely due to key network developments.

While market conditions have improved over the past week, the potential for further growth remains for some crypto tokens, largely due to key network developments.

BeInCrypto has analyzed three such altcoins that investors may want to keep an eye on in the coming days.

BeInCrypto has analyzed three such altcoins that investors may want to keep an eye on in the coming days.

Sonic (S)

Sonic (S)

Sonic (S)

After a 22% price increase since the beginning of the month, Sonic (S) (previously Fantom) is currently trading at $0.50. However, despite the recent gains, Sonic has yet to fully recover from the losses experienced in March, with price action still pressured by earlier declines.

The upcoming Sharding feature, set to launch on May 15, could play a key role in Sonic’s recovery. This upgrade is expected to increase transaction speed and reduce network congestion, potentially driving the altcoin further upward. If the improvements take hold, Sonic could rise to $0.74, recovering March’s losses.

However, if Sonic experiences profit-taking in the near term, it could fail to breach the $0.60 resistance. A breakdown below this level could see Sonic decline to $0.50, invalidating the current bullish outlook.

Arbitrum (ARB)

Arbitrator (arb)

Arbitrator (arb)

ARB has surged by 51% over the past five days, reaching a trading price of $0.47. This makes it one of the best-performing tokens this week. However, with the 92.65 million ARB token unlock, which will release $43 million worth of tokens, set for May 16, price volatility is to be expected.

Ahead of the token unlocks, ARB can experience further gains. The Ichimoku Cloud is currently below the candlesticks, signaling potential bullish momentum. If this momentum continues, ARB could breach $0.51, heading toward $0.55, with strong buying support potentially driving the altcoin higher in the short term.

Nevertheless, if ARB fails to maintain its $0.47 support level, a price drop is likely. The upcoming token unlock may exacerbate this decline, potentially pushing ARB down to $0.38. This would invalidate the current bullish outlook and signal a bearish reversal.

Jupiter (JUP)

JUP has experienced a nearly 40% rise in the last few days, now trading at $0.58. To reach the crucial resistance of $0.68, the altcoin needs an additional 16% push. The current momentum shows potential, but securing 0.57 as support is crucial for further gains.

This week, JUP is set to benefit from a significant development. Jupiter Exchange announced that 2.5% of the commission from jupSOL transactions will be donated to the Jupiter DAO. This new revenue stream could provide increased liquidity and positive sentiment, aiding JUP’s price growth in the short term.

If the new revenue model boosts investor confidence, JUP could break past $0.68, provided it can maintain $0.57 as a support floor. However, if the altcoin fails to secure this level, a drop to $0.47 is likely, invalidating the bullish outlook and erasing recent gains.