3 Altcoins To Watch This Weekend | May 23 – 24

BeInCrypto analysts tracking altcoins to watch this weekend identified three picks where institutional catalysts align with whale activity. ETF inflows, SEC catalysts, and pre-IPO trading are powering the moves.

Chart setups confirm the smart money positioning, with bull flags and channel breakouts ready to resolve over the next few days.

Ondo Finance (ONDO)

ONDO trades at $0.41 on May 22 after slipping 1.73%. The token holds 60% of the tokenized stocks market, just as the SEC prepares an innovation framework for this category.

The 10% rally on May 21 followed those reports, and whales are already positioned for more. Santiment data showed the 1 million to 10 million ONDO cohort grew its stash from 555.38 million to 594.05 million tokens earlier this month. That whale accumulation totalled roughly 38.67 million ONDO over the period.

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The chart shows ONDO inside a falling channel since the May 9 local high at $0.48. Price grinds against the channel’s upper trendline with steady rising volume since May 14. The falling channel’s timeframe coincides with the whale pickup, hinting at dip buying.

The whales have again started loaded ONDO right before the weekend, lifting their stash from 7.90 billion to 7.93 billion tokens in a matter of hours. This makes ONDO one of the key altcoins to watch ahead of the weekend.

ONDO trades above all four exponential moving averages (EMA), a trend-following indicator. The 200-day EMA at $0.40 marks the immediate floor.

A clean break above $0.42 opens path to $0.45 and $0.48 next. That $0.43 level marks the 0.618 Fibonacci level, a strong technical reference drawn from prior swings. The bullish thesis fails if ONDO loses $0.40, exposing $0.36 and $0.33 below.

Hyperliquid (HYPE)

HYPE trades at $57.68 on May 22, easing slightly after touching a new all-time high near $62.73. BHYP spot ETF inflows, pre-IPO perpetual markets, and surging perps volume all stack behind the move.

The rally pulled deep institutional flow. An a16z-linked wallet accumulated 2.34 million HYPE worth $102 million since April 14. Bitwise and 21Shares spot HYPE ETFs added a record $25.5 million in net inflows on May 21.

The whale and ETF flows align with the bull flag formation, shown on the chart later, suggesting smart money is accumulating during the post-ATH consolidation. The same a16z-linked wallet bought another 261,250 HYPE in the past 10 hours.

The chart shows HYPE inside a bull flag after consolidating from $62.73.

BeInCrypto called that level two months ago, and price reached it this week. The flag pole measures a 63.62% move from the April $38.21 swing low.

Chaikin Money Flow (CMF), an indicator that tracks institutional buying and selling pressure, sits at 0.06. The reading has been trending higher with price since April 15. A CMF move above 0.08 confirms the institutional bid and supports the flag breakout.

HYPE needs to stay above $56.93 to keep the flag valid. Below $53.35 weakens the structure, with $50.46 marking full pattern invalidation. A clean break above $58.58 then $62.73 opens the 1.618 extension target at $95.71. It would be interesting to see if HYPE manages to touch or break these key levels over the weekend.

Zcash (ZEC)

ZEC trades at $656.65 on May 22, slipping considerably after a 20% weekly rally.

Whale positioning has split sharply heading into the weekend, making Zcash one of the more interesting altcoins to watch. Lookonchain flagged Garrett Jin placing limit orders to short $36 million worth of ZEC on May 22. This shows bearish sentiment.

The trader is also accumulating HYPE on the same books.

The long camp outweighs the short into the weekend. A newly created wallet pulled 11,827 ZEC worth $7.96 million off Binance on May 21.

Evaded opened a 10x long on 36,875 ZEC worth $21.59 million on May 20. The position is open at press time.

The chart shows the bullish bias better. ZEC is trading inside a bull flag after the May 21 local high at $693.52. The flag pole measures a 118.77% move from the late-April swing low. Volume on the consolidation is declining, often a signal that the pause is nearing resolution.

A loss of $564.71 exposes the $487.02 pole base and validates Garrett Jin’s short thesis. A clean push above the $690-$693 zone confirms the breakout, opening $745.77, $816.22, and even the 1.618 extension at $1,019.67.