As the weekend loomed like a particularly grumpy goblin, select altcoins were flashing early signals so dramatic they could have been mistaken for a Shakespearean tragedy. From renewed bullish momentum to deep drawdowns hinting at exhaustion, the market was offering a mixed technical outlook that would make a confused parrot look like a seasoned analyst.
BeInCrypto, ever the intrepid explorer of the crypto wilderness, has identified three such tokens that investors should watch-assuming they’re not too busy screaming into a void.
Decred (DCR)
Decred has launched into a bullish expansion so vigorous, it could power a small village. It rallied sharply to $24.70 after reclaiming the $20.22 pivot like a dragon reclaiming its hoard. The impulsive candle confirms buyers regaining control following a higher-low structure above $17.45. This move shifts short-term momentum decisively bullish after a prolonged consolidation phase that lasted longer than a British winter.
Holding above $22.84 keeps upside momentum intact, with $25.94 as the next key resistance. A daily close above $25.94 would open a move toward $30.06, which is roughly the same distance as a cryptocurrency’s price from sanity. Notably, DCR shows a weak negative correlation of -0.09 with Bitcoin, which is like saying a teacup is a bit waterproof in a hurricane.
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The bullish scenario is invalidated on a daily close below $20.22, which would be a betrayal of epic proportions. A failure there would shift momentum back to neutral and expose $18.79, a price point so low it might as well be a ghost town.
Polygon (POL)
POL extended losses with the grace of a drunken penguin, setting a new all-time low at $0.0839. The altcoin briefly plunged 22.8% before recovering part of the drop, which is like a toddler regaining interest in a toy after 30 seconds. It closed the session down 12.8%, reflecting persistent selling pressure and weak market confidence as POL continues to struggle for a stable price base, which is currently located somewhere in the vicinity of “abandon hope all ye who enter here.”
On-chain signals offer cautious optimism. The Chaikin Money Flow is forming a bullish divergence with the POL price, indicating declining outflows despite continued weakness. This shift suggests improving demand beneath the surface, which could help POL reclaim $0.1024 and extend a recovery toward the $0.1193 resistance, assuming the universe cooperates.
However, downside risks remain elevated if sentiment fails to improve. Continued bearish momentum could force POL to print additional all-time lows, which would be a surprise only to those who forgot the laws of physics.
Optimism (OP)
OP set a new all-time low during Friday’s intraday session, falling to $0.1579 with the grace of a lead balloon. The move extended a persistent downtrend that has pressured prices all week. OP’s cumulative decline is now near 40%, highlighting sustained selling pressure and weakening investor confidence across recent trading sessions, which is about as encouraging as a weather forecast in a desert.
Momentum indicators suggest selling pressure may be nearing exhaustion. The Money Flow Index is close to slipping into oversold territory, a level historically linked with reversals, which is like saying a teapot might start singing if you leave it alone long enough. If confirmed, this could encourage dip buying and help OP reclaim $0.1817, opening upside toward $0.2128 or $0.2506, assuming the market isn’t too busy laughing at you.
On the other hand, bearish risk remains elevated if market sentiment continues to deteriorate. Failure to stabilize could push OP below $0.1579, which would be a new low for “I give up” moments. At the same time, a fresh all-time low would invalidate the bullish divergence setup, reinforce the prevailing downtrend, and delay any recovery attempt as sellers retain control, which is about as thrilling as watching paint dry-except the paint is also judging you.
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2026-02-06 18:46