
Jakarta, Pintu News ā The first half of the month was filled with market turmoil, and the rest of January is expected to end with similar conditions. Amidst this uncertainty, altcoins are predicted to rely on external developments to make gains.
Here is an analysis of three altcoins that are expected to experience major developments in the third week of January, according to a report by BeInCrypto.
On January 20, the price of Pancake was trading around $2.01, holding above the $1.99 support level. In the past few sessions, volatility has increased, giving rise to bearish technical signals.
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Market uncertainty and volatile trading volumes continue to weigh on short-term price direction, making traders cautious about CAKEās near-term prospects.

Technical indicators point to further downside potential. The Money Flow Index (MFI) dropped below the neutral level of 50.0, signaling increasing selling pressure from investors. This shift in momentum suggests that the price of CAKE could retest support around $1.94 if bearish conditions continue in the altcoin market in general.
However, fundamental factors can be a counterbalance to technical weaknesses. PancakeSwap proposes reducing the maximum supply of CAKE from 450 million to 400 million tokens.
This supply reduction plan has strong support from the community and could potentially increase the scarcity of the token. Positive sentiment towards this proposal could push the CAKE price back up to around $2.05 and even further to $2.13.
Stellar was trading around $0.215 on January 20 after dropping to a daily low of $0.202. The altcoin recorded a 12% drop in 24 hours (1/20) as the overall market weakened.
Technical indicators show that Stellar is in a correction phase, with momentum weakening and increasing the risk of further price declines.

This correction comes after XLM broke out of a descending triangle pattern on the chart, which indicates a potential 14% drop from the breakdown point. If the selling pressure continues and the support at $0.210 is unable to hold, XLM prices could drop to around $0.201 and continue to weaken to a target of $0.188.
However, the upcoming development of the network could be a crutch for Stellar. Protocol X-Ray update is scheduled to launch on the mainnet this week. This update brings the basics of compliance-based privacy through zero-knowledge cryptography technology.
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Positive developer sentiment towards this upgrade could reverse the bearish momentum and push XLM prices up to the $0.230 range.
The price of Tezos dropped 9.7% in the last 48 hours and is currently hovering around $0.559. The altcoin is still holding above the $0.555 support level, which has been tested for almost two weeks. However, the ongoing volatility suggests that Tezos is in a vulnerable short-term correction phase.

The downside risk increases as the Chaikin Money Flow indicator shows a predominance of capital outflows from XTZ. Consistent outflows are often a sign of a sharper decline. If selling pressure remains high and the $0.555 level does not hold, the Tezos price could drop to $0.517, deepening the correction in the current market structure.
However, a potential recovery could come from the Tezos Tallinn network upgrade scheduled to take place this week. The upgrade aims to improve the speed, efficiency, and security of the network. Such upgrades usually affect investor sentiment and on-chain activity.
If buying interest returns, XTZ could defend the $0.555 level, recover towards $0.626, and continue consolidating within the established trading range.
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*Disclaimer
This content aims to enrich readersā information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an assetās past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.
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