3 notable altcoins on the last day of May

As May comes to a close right on the weekend, the crypto market may face strong fluctuations. The start of June on Sunday is likely to shake up the current trend, setting the stage for altcoins to either surge or undergo a deep correction.

In this context, Bitcoin Magazine has selected and analyzed three prominent tokens that investors should pay particular attention to this weekend — to assess whether a price surge is imminent, or if the crypto market is preparing for a significant correction.

Sui (SUI)

The price of SUI has dropped sharply by nearly 11% in the past 24 hours, currently trading around $3.46. Although this decline somewhat reflects the overall negative trend of the crypto market, specific internal pressures could make SUI's situation more severe in the coming days.

! Daily SUI/USDT Chart | Source: TradingViewA notable factor is the unlocking of 44 million SUI tokens scheduled to take place on June 1. This additional supply worth about 151 million USD risks breaking the supply-demand equilibrium, creating great selling pressure and pulling prices down further. This puts SUI in a vulnerable position to the negative reaction of the market.

In the latest trading session, SUI has approached the important technical support area at $3.33 and may soon test this level again. However, if buying pressure emerges and the price exceeds the threshold of $3.48, the possibility of a recovery to the area of $3.69 is entirely plausible. This scenario would negate the current downtrend and open up short-term recovery prospects.

Virtuals Protocol (VIRTUAL)

After three days of slight adjustments, VIRTUAL still maintains the upward momentum formed since the beginning of the month, indicating that the bullish trend has not been broken. This trend shows a high likelihood that this altcoin will have a strong recovery by the end of the week, as investor confidence is gradually being reinforced despite short-term fluctuations.

The daily chart of VIRTUAL/USDT | Source: TradingViewThe RSI index continues to remain above the neutral threshold, reflecting the bullish momentum still present. With this trend, VIRTUAL could successfully defend the important support area at $2.45, thereby opening up the opportunity to advance towards the $2.99 mark and even surpass the psychological threshold of $3.00 in the short term.

However, investors should also be aware of the risks if the overall market enters a strong correction phase. In a negative scenario, losing the key support level at $1.93 could weaken the bullish outlook and lead to a short-term decline.

SPX6900 (SPX)

SPX made a strong impression last week by becoming one of the best-performing meme coins and altcoins, growing by up to 23.6%. This impressive rally has helped SPX surpass the psychological resistance level of $1.00, currently resting at $1.10 — indicating strong bullish momentum amid a volatile crypto market.

SPX6900/USDT daily chart | Source: TradingViewAlthough it is a meme coin known for its high volatility, SPX is showing positive technical signals. The exponential moving averages (EMA) are approaching the formation of a "Golden Cross" — a classic bullish indicator, opening up the possibility of further climbing and even breaking the important resistance level at $1.23 in the short term.

However, caution is needed with the risk of correction as profit-taking pressure increases. If strong selling forces cause the price to reverse and fall below the $1 mark, the short-term uptrend will be threatened, reflecting investors' cautious sentiment towards the uncertain future of this meme coin.

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