3 Altcoins to Watch This Week: Movement (MOVE), Immutable (IMX), Tron (TRX)

The crypto market faced a challenging week, but the new week brings hope for recovery. BeInCrypto has identified three altcoins for investors to watch closely

The crypto market faced a challenging week, but the new week brings hope for recovery.

Whether this rebound stems from broader market trends or individual network developments remains to be seen.

As we enter the second week of March, BeInCrypto has identified three altcoins that investors may want to keep an eye on.

Movement (MOVE)After hitting a new all-time low of $0.370, investors pulled back ahead of the anticipated mainnet launch, which is expected this week. This event could be pivotal for MOVE, influencing investor sentiment and potentially affecting market movements in the coming days.

At present, MOVE is trading at $0.464, consolidating below the $0.527 resistance and holding above the $0.420 support.

A buildup of bullish momentum could propel the altcoin towards $0.617. A successful breach of this level would confirm recovery and attract renewed confidence from investors.

However, if MOVE remains heavily influenced by broader market trends, a breakdown below $0.420 might trigger further losses. This scenario might lead to the altcoin slipping past its all-time low of $0.370, potentially forming a new bottom and extending its bearish trajectory.

Immutable (IMX)IMX has been trading within a descending wedge for the past two months, currently priced at $0.539. The altcoin has experienced a 22% decline over the last two weeks, indicating sustained bearish pressure.

However, this technical pattern suggests the possibility of a breakout, offering a chance for a trend reversal.

IMX is holding above its key support level at $0.508, reinforcing the possibility of an upward move.

Further supporting this is the upcoming launch of RavenQuest, a Sandbox MMORPG set for release on March 14. This event could attract fresh investment, drive renewed interest, and improve market sentiment around IMX.

If investor enthusiasm supports IMX, the altcoin could break through the $0.684 resistance and aim for $0.810.

However, failure to breach this level would invalidate the bullish outlook. In a bearish scenario, IMX could lose support at $0.508, leading to a potential decline toward $0.400.

Tron (TRX)Tron’s price, at $0.234, has demonstrated resilience, maintaining stability despite broader market fluctuations. Over the past three months, the altcoin has remained within a tight range, showing limited volatility.

Unlike other cryptocurrencies that have faced sharp crashes, TRX has managed to hold its ground, avoiding significant downside moves during market uncertainty.

Currently, Tron is consolidating between $0.262 and $0.216, effectively preventing major losses. The altcoin appears poised to secure its 50-day Exponential Moving Average (EMA) as support.

If successful, this could serve as a foundation for a breakout, allowing TRX to move beyond its established range and enter a bullish phase.

However, if the breakout attempt fails, consolidation may persist. A shift in market sentiment or intensifying bearish conditions could push TRX below its $0.216 support.

A further decline could send the altcoin toward $0.194, invalidating the bullish-neutral outlook.