March has begun on a positive note following a bearish February, bringing key upgrades for several altcoins. These developments could fuel the ongoing rally and aid in recovering recent investor losses.
BeInCrypto has identified three altcoins to watch in the coming days, analyzing their potential price direction and market impact.
Ethereum (ETH)
Ethereum surged 13% on Monday but retraced slightly, now trading at $2,349. Despite the pullback, ETH successfully crossed the downtrend support line, reinforcing its bullish structure. Holding above this level is crucial to sustain upward momentum.
The upcoming Pectra upgrade, set for March 5, aims to enhance network scalability by reducing consensus overhead and improving Layer 2 efficiency. This development could drive renewed investor interest, pushing ETH toward $2,654. A breakout above this level would recover a portion of the recent 21% decline, strengthening Ethereum’s market position.
However, failure to hold $2,344 as support could reverse recent gains. A drop below this threshold may send ETH toward $2,170, invalidating the bullish outlook. Such a move would signal increased selling pressure, potentially extending Ethereum’s correction.
Onyxcoin (XCN)
XCN is set for a significant upgrade today, with the Onyxcoin Goliath Mainnet launch on March 3. This highly anticipated event could act as a catalyst for a price increase. Network upgrades often attract investor interest, and this development may strengthen bullish sentiment, driving further momentum for the altcoin.
XCN has surged 32% in three days and is now trading at $0.0188. It successfully broke a month-long downtrend and is attempting to establish $0.0182 as support. Holding this level could pave the way for a push toward $0.0237, signaling a stronger recovery and reinforcing a bullish structure for the asset.
However, failure to secure $0.0182 could reverse recent gains. A drop below this level may send XCN back to $0.0150, re-entering its previous downtrend. Such a move would invalidate the bullish outlook, erasing recent momentum and raising concerns of further downside risk.
Portal (PORTAL)
Another altcoin to watch this week is PORTAL, which has remained in consolidation below $0.151 for the past month and is currently trading at $0.131. The upcoming Portal Bridge upgrade, scheduled for March 4, could serve as a catalyst for a breakout. A successful upgrade may drive renewed investor interest and increase trading volume.
The new Solana bridge integration will enable cross-chain functionality, expanding Portal’s ecosystem. This development could attract higher inflows, boosting demand for the altcoin.
If momentum builds, PORTAL may break through $0.151 and surge toward $0.182, reinforcing its bullish trajectory and ending the prolonged consolidation phase.
However, failure to breach $0.151 could extend the ongoing consolidation. A drop below $0.130 may send PORTAL toward $0.118, invalidating its bullish outlook. Such a decline would suggest weakening demand and could lead to further downside.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
