- ONDO, SUI, and DEEP lead early-week gains with strong support levels, but falling volumes signal the need for caution.
- Meanwhile, Token S shows fundamental weakness, lacking liquidity and market activity.
The crypto market kicked off the week of May 12 with a mix of resilience, breakout attempts, and subtle warning signs. As the broader market steadies, altcoins like ONDO, SUI, DEEP, and QNT are drawing attention for their technical setups and price action—while underperformers such as Token S raise red flags.
Mid-Cap Altcoins Show Strength, But Volume Tells Another Story
ONDO led the early-week gainers, climbing 4.66% to $1.07 after reclaiming support at $1.02. With resistance at $1.10 still intact, a breakout could spark momentum toward the $1.15–$1.20 zone. Despite a decline in trading volume, ONDO’s $1.18 billion in total value locked (TVL) points to solid DeFi demand.
SUI mirrored this bullish structure, rising 4.08% to $4.14 after rebounding from $3.95 support. Although volume slipped 21%, a 13% liquidity ratio hints at continued institutional interest—adding confidence to its recovery.
WAL, up nearly 9%, posted a strong trend, testing $0.6708. With $0.615 acting as key support and resistance near $0.685, traders are eyeing potential breakout confirmation. However, the token’s low circulating supply raises dilution concerns with upcoming unlocks.
Also read: Pi Coin Price Breaks $1.5 — Bullish Breakout or Imminent Correction Ahead?
DEEP Defies the Trend with Rising Volume
One of the week’s most intriguing performers, DEEP gained over 7% and pierced the $0.215 level before pulling back slightly. Uniquely, DEEP saw rising volume—suggesting organic demand rather than speculative surges. With only 30% of its supply circulating, further emissions could influence near-term price stability.
Infrastructure Tokens Hold Steady
HBAR and QNT continued to show quiet strength. HBAR bounced from $0.200 to $0.2130, maintaining its bullish trendline. QNT briefly breached $101 before consolidating above the psychological $100 level. Both are experiencing muted volume, which could cap near-term upside despite strong technicals.
Token S Struggles as Weak Fundamentals Emerge
While most altcoins saw green, Token S fell 3.32%, revealing deeper structural concerns. With no visible circulating supply or verifiable volume, market confidence remains low. Without renewed liquidity or project updates, a rebound appears unlikely in the short term.
Mixed Signals Demand Tactical Moves
Despite positive price action in mid-cap and infrastructure tokens, falling volume across the board suggests caution. Keep a close eye on support levels and volume confirmations before chasing breakouts.