#Altcoins Rally#  3 Altcoins to Watch This Weekend | August 9-10.

This week, the global cryptocurrency market capitalization is showing a modest 2% increase, despite many assets trading sideways.

Amidst this backdrop, several altcoins are noteworthy as we head into the weekend of August 9-10. These altcoins have posted significant gains throughout the week and have the potential to maintain their upward momentum in the coming days.

Mantle (MNT)

Mantle emerged as the best-performing altcoin last week, with its price rising by more than 45%. According to Santiment, this price increase was accompanied by a steady increase in daily trading volume.

In the last seven days, MNT's trading volume has increased by 250%, reaching $753 million.

When an asset's price rises alongside increased trading volume, it indicates strong market interest and a strong sense of purpose behind the movement. MNT's increasing daily trading volume confirms that the price movement is supported by more market participants, making the trend more reliable.

If the current buying momentum continues, MNT's price could rise to $1.14 in the near term.

However, if demand decreases and buying pressure decreases, the token's price risks falling below $1.

Pump Fun (PUMP)

PUMP, the native token of the Pump Fun utility coin launch platform, is another altcoin to watch this weekend.

Trading at $0.0033, its price has increased by 31% over the past week, making it one of the best-performing altcoins during this period.

Data suggests the token is likely to continue accumulating gains in the upcoming weekend sessions. The index is at 0.000275 and has recorded only positive readings over the last four trading sessions, an encouraging sign of sustained upward momentum.

The Elder Ray Index measures bullish and bearish forces separately by analyzing the balance of buying and selling pressure in the market. A positive reading indicates that buyers are dominant and are pushing prices higher.

If PUMP buyers maintain control, they could push its price to $0.0040.
On the other hand, an increase in selling pressure could cause PUMP to lose some of its gains and slide below $0.0032.

MemeCore (M)

MemeCore rose 24% last week to $0.44. However, signs of strengthening selling are beginning to emerge. This is reflected in the Chaikin Money Flow (CMF) indicator, which is currently hovering around the zero line and is poised to break below it.

This suggests potential downward pressure on the token's price, making M a key asset to watch this weekend.

Chaikin Money Flow (CMF) is a volume-weighted indicator that measures buying and selling pressure over a given period by analyzing price and volume data. A reading above zero indicates buying dominance and accumulation, while a reading below zero indicates selling pressure and distribution.

As with M, a CMF poised to break below the zero line suggests sellers may be gaining control, increasing the likelihood of a price drop.

If profit-taking continues, M's price could fall to around $0.41.
On the other hand, if buying interest remains strong, the token could rise further and reach $0.47 in the near term.