Weekly Crypto Outlook: ONDO, SUI, WAL, DEEP, HBAR, and QNT Are the Altcoins to Watch This Week

The crypto market kicked off the week with notable price action Monday, May 12. While major players like Solana are holding their ground, this weekly crypto outlook zeroes

Major crypto price action saw interesting moves on Monday, May 12. While the likes of SOL are holding their own, Benzinga takes a look at what's new with some key altcoins to watch.

What Happened: Among the mid-cap movers, several tokens showed promise despite some volume concerns.

ONDO price rose 4.66% to $1.07, showing a late-day rally after dipping earlier. The $1.02 level acted as strong support throughout the day, with buyers stepping in twice to defend this price point.

Resistance is seen around $1.10, which could pose the next hurdle for the bulls. Despite a slight dip in volume, ONDO's $1.18 billion TVL highlights its role in DeFi, which could underpin its price structure further.

SUI price also pushed up by 4.08%, settling at $4.14. The $3.95 level acted as a foundation for the price to recover mid-day and move into higher highs.

Volume decreased by over 21%, but SUI's liquidity ratio remains healthy at over 13%, which could signal sustained institutional interest.

WAL gained almost 9%, hitting $0.6708 as it posted a textbook uptrend with higher highs and lower lows. A close above $0.685 could open the next leg higher. However, WAL's low circulating supply means future token unlocks may affect its trajectory.

DEEP surged more than 7%, pushing past the $0.215 mark before easing slightly. The protocol's rising volume contrasts many others, affirming the strength of its breakout.

With just over 30% of its token in circulation, future DEEP token emissions should be monitored closely for any impact on price action.

In the realm of infrastructure tokens, HBAR and QNT displayed moderate but consistent gains.

HBAR price climbed to $0.2130 after bouncing off $0.200, maintaining a healthy chart structure. Its price movements were contained within a familiar band, and the volume remained moderate.

QNT briefly touched $101 before retracing slightly, remaining above its psychological $100 support. Like HBAR, QNT also displayed lower trading volume, which could temper its momentum in the short term.

Top 5 Altcoins to Watch This Week: What Went Down?Last week, Benzinga highlighted five altcoins that traders should be keeping an eye on this week. Of the five, three managed to post decent gains, while one sustained an interruption in its bullish trend.

Also Read: Top 5 Altcoins To Watch As Tariff Uncertainty Eases: ONDO, LINK, HBAR, QNT & PLUME

The fifth token, unfortunately, saw a triple-digit percentage loss as it fell victim to a rug pull scam.

Among the notable performers was ONDO, which rallied more than 50% after testing a key support at $0.6. The rally was fueled by increasing involvement in the decentralized finance (DeFi) sector, with Ondo’s total value locked (TVL) surging to $1 billion.

Another standout was LINK, which gained over 10% amid heightened interest in the Chainlink (CRYPTO: LINK) token. The token’s price rose above $20, marking a significant milestone in its price recovery.

HBAR also displayed impressive strength, notching up a 9% gain. The token’s price hovered around $0.19, and it showed resilience despite a slight decrease in volume.

QNT showed moderate but consistent gains throughout the week, adding 3.3% to its value. The token’s price moved in a tight range, and it encountered resistance at $103.

In the realm of crypto startups, PLUME, a fast-rising token, saw a 25% increase. The token’s price dipped below $0.45 but later recovered, showcasing its potential for further recovery.

On the flip side, Token S sustained a 3.32% loss. A lack of active market data, zero circulating supply, and unclear trading volume signaled weak fundamentals for the token.

Without any recovery in liquidity or activity, investors may want to proceed with caution regarding further investment in Token S this week.