Oh great, another month where the crypto market decided to act like a toddler who lost its favorite toy. But hey, new week, new chance to lose even more money!
These developments could shape the price action going forward, and BeInCrypto has analysed three such altcoins for the investors to watch. Because nothing says “investment” like hoping a network upgrade doesn’t crash. 🤷♂️
Sonic (S)
The upcoming Sonic mainnet and testnet upgrade to version 2.1.2 this week could act as a bullish catalyst for the S price. Because nothing says “bullish” like a technical upgrade that might not do anything. But hey, let’s all hope the devs didn’t forget to plug in the servers this time. 💻💥
These technical upgrades may attract renewed investor interest and strengthen market sentiment. Or they could just make everyone more confused. Either way, let’s all root for the underdog. 🎉
Currently, S price is down 25%, trading at $0.1299, just above the critical $0.128 support level. The Relative Strength Index (RSI) has slipped into the oversold zone, a condition that has historically preceded short-term recoveries. Because nothing says “historically” like a bunch of people hoping for a miracle. 🙏
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Because nothing says “trust” like paying for advice from someone who probably doesn’t know what they’re doing. 💸
However, if investor response to the upgrade remains muted, S’s price could fail to hold above $0.128. A breakdown below this level might accelerate losses, driving the token toward $0.112 or even $0.100. Such a move would negate bullish expectations and signal continued bearish control in the market. Because nothing says “bearish” like a token that’s basically a sad emoji. 😢
THORchain (RUNE)
THORChain is set for a key network upgrade this week, with developers keeping details tightly under wraps. The anticipated V3.12 upgrade has sparked curiosity among investors, potentially drawing attention back to RUNE. Because nothing says “curiosity” like a mystery that might not be worth the hype. 🕵️♂️
If the update delivers performance or liquidity improvements, it could serve as a short-term bullish catalyst. Or it could be a total dud. Either way, let’s all cross our fingers. 🤞
RUNE price has fallen 13% over the past week, now trading at $0.809. Technical indicators suggest a possible shift ahead. The Bollinger Bands are converging, signaling an incoming volatility spike. Because nothing says “volatility” like a market that’s about to crash or soar. 🎢
If momentum turns positive, RUNE could break past the $0.855 resistance and target the $0.951 barrier in the near term, placing it among the top altcoins. Or it could just crash harder. Who knows? Let’s all pray for the best. 🙏
However, if bearish sentiment persists, RUNE may continue its descent. A drop below $0.765 could confirm further weakness, erasing recent gains and invalidating bullish projections. Because nothing says “bearish” like a token that’s basically a frown face. 😞
Sky (SKY)
Sky Network’s latest Executive Vote has been approved, marking a key governance milestone. The proposal increases daily SKY buybacks to 300,000 USDS and transfers 500 million SKY to the protocol treasury for staking rewards. Because nothing says “governance” like a bunch of people deciding to buy back their own tokens. 🤯
These changes aim to enhance token demand and strengthen long-term sustainability across the Sky Network ecosystem. Or they could just be a fancy way of saying “we’re running out of ideas.” 🧠
Following this development, the SKY price could see renewed upward momentum. A rebound from the $0.0545 support level may push the token past $0.0559 and toward $0.0575. Such movement would help recover the 7.8% weekly losses and signal growing investor confidence in the network’s economic reforms. Or it could just be a temporary blip. 📈
However, if market response remains muted, the positive impact of the governance upgrade could fade. A breakdown below $0.0545 may send SKY toward $0.0536, reinforcing short-term bearish sentiment. Because nothing says “bearish” like a token that’s basically a sigh. 😩
Sustained weakness at these levels could delay recovery efforts and extend the current downtrend across the asset’s price trajectory. Because nothing says “downtrend” like a market that’s just not interested in doing anything. 🙃
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2025-11-03 17:37