3 altcoins to watch this weekend | January 17-18

The market appears to be shifting from an uptrend to a downtrend, leading many to question whether the recent altcoin price surges will be sustainable. Some altcoins may be dependent on external factors, while others remain affected by BTC volatility.

Therefore, BeInCrypto has analyzed three altcoins that could surprise retail investors this weekend.

Chiliz (CHZ)

Chiliz is likely to have a positive weekend following the announcement of Chiliz 2030 vision. This long-term roadmap focuses on developing sports blockchain technology and promoting its practical applications . This information has improved sentiment towards CHZ , thereby attracting investor attention to the altcoin as it assesses its future growth potential.

While the announcement wasn't enough to fully recover the CHZ price, it did help maintain attention after the CHZ surged 30% in the past week. Currently trading at $0.057, it's likely to continue trading around this level. If the CHZ CHZ above $0.053, it suggests there's still buying pressure, at least over the weekend, although there's currently no clear new impetus.

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The risk of a price drop remains as momentum indicators are issuing warnings. The Money Flow Index is showing signs of being overbought, meaning buying pressure has peaked. If many people take profits, the price of CHZ could fall below $0.053. A further drop to the $0.050 region would break the neutral trend and confirm short-term downward pressure.

Dash (DASH)

DASH was one of the biggest altcoins of the week, surging 114% in just 7 days. The price of DASH is currently trading around $80 thanks to strong buying pressure. Despite this exceptional growth, the price of DASH remains 24.8% below the $100 mark, leaving retail investors watching to see if the upward trend continues.

The recent price surge of DASH is primarily driven by wider adoption by businesses, notably Alchemy Pay, which has integrated its network. However, momentum indicators still raise concerns. According to Chaikin Money Flow, there is a slight bearish divergence as the price continues to set new highs while the CMF (Central Market Factor) declines. This suggests that Capital is beginning to withdraw from DASH despite the price increase, increasing the risk of a short-term decline.

If selling pressure intensifies, DASH risks losing the $74 support level and falling to $63 in the short term. This development would confirm a correction phase. Conversely, if stronger capital inflows return, the price of DASH could stabilize. If demand remains strong, DASH could continue to rise to challenge the $100 mark next week.

Polygon (POL)

Another altcoin to watch this weekend is POL, which had a volatile January, surging 46% last week thanks to positive sentiment. However, the momentum quickly faded as the market became volatile, causing POL to drop 15.6% this week.

The abrupt reversal shows that market sentiment towards POL is quite fragile, highlighting that speculative demand can disappear very quickly.

In recent sessions, inflows have weakened significantly, making POL one of the most attractive altcoins for retail investors looking to decline. According to Chaikin Money Flow, inflows have almost dried up. If Capital continues to flow out, downward pressure could intensify. In that context, the price of POL risks retreating to the support zone of $0.138.

If overall market sentiment improves, POL could still reverse and rise again. Further accumulation by investors could help POL reclaim the support zone of $0.155. Holding above this level would strengthen short-term confidence. If buying pressure continues strong, POL could recover to around $0.183, erasing the current negative outlook.