#Crypto Market Rebound#  Altcoins to Watch This Weekend: August 23-24

Chainlink whales have amassed over 5.4 million tokens. This strengthens the outflow outlook.

Toncoin (TON) is showing a hidden bullish divergence. New fundamentals like treasury support and staking are keeping optimism alive.

The cryptocurrency market has entered a correction phase, retreating from a peak of $4.08 trillion on August 15th to around $3.89 trillion today. This represents a 4.6% pullback in less than a week, putting most categories under pressure. Smart contract platforms and DeFi tokens led the pullback. However, amidst this volatile environment, some altcoins stand out as ones to watch this weekend.

Chainlink (LINK)

Chainlink continues to solidify its reputation as a leading oracle project, and recent on-chain activity has contributed to this narrative.

In the past week alone, whales accumulated 1.09 million LINK, representing a 24.77% increase and worth almost $27 million at current prices. Such heavy buying from large holders rarely goes unnoticed and typically creates a base below the market, signaling confidence in the project's outlook.

Technically, LINK is consolidating around $24.95, falling between the Fibonacci retracement zones of $24.69 (0.382) and $25.72 (0.5).

A successful break above $26.76 (0.618) could push the token to $28.23 and ultimately the psychological $30.00 level.

Importantly, the current decline offers new entry zones amidst increasing whale demand, highlighting why Chainlink is high on the altcoins-to-watch list. However, a sustained break below $21.34 would invalidate the bullish structure.

Toncoin (TON)

Toncoin continues to attract market attention from both a technical and fundamental perspective. On the charts, TON is trading around $3.28 and is within a one-week ascending channel. The price is consolidating just below the $3.35 resistance level, and a break here could accelerate moves toward $3.51 and $3.70.

Another element that adds weight to the bullish scenario is a hidden divergence: the price has made a higher low while the RSI (Relative Strength Index) has made a lower low, signaling underlying buyer strength and a potential reversal.

The RSI tracks buying and selling momentum on a scale of 0 to 100. A divergence occurs when the price and RSI move in opposite directions. For example, in a hidden bullish divergence, the price makes a higher low while the RSI makes a lower low. This often indicates that buying pressure is quietly building, even though the chart may appear weak.

Fundamental factors provide further support. A tech firm's $780 million treasury strategy is supporting TON, boosting investor confidence. Furthermore, TON's staking integration has provided millions of users with secure, custody-free staking access.

These factors combine to make TON one of the strongest altcoins to watch this weekend. However, a price below $3.18 would signal a reversal, while a deeper drop below $3.09 could neutralize the trend.