Bitcoin had shown potential to hit a new all-time high earlier in the day but later retreated towards a crucial support level. Despite this, the rise in intraday trading activity has sparked positive sentiment among alternative cryptocurrencies.

Three altcoins are highlighted by BeInCrypto as important for investors to monitor, especially in light of significant upcoming developments:

Maker (MKR)

The price of MKR has fallen by 12% over the past week, but it is expected to bounce back with the launch of Phase One of the MKR to SKY upgrade on May 19. This transition, a key part of Maker's rebranding to Sky, is aimed at completing its ecosystem transformation and attracting investor attention.

The approval of the Executive Vote will establish SKY as the governance token of the Sky Ecosystem. This strategic move could potentially drive MKR's price towards $1,894 and further towards the key resistance level at $2,188, indicating a renewed bullish trend in the market. However, if MKR drops below the support level of $1,655, it could decline further to $1,555 or even down to $1,325, signaling increased selling pressure and a potential extended downturn.

OFFICIAL TRUMP (TRUMP)

TRUMP's price has remained stable due to low volatility, with bullish market signals preventing a decline. The Ichimoku cloud below the candlesticks indicates a steady price action potential amidst positive overall trends.

An anticipated boost for the OFFICIAL TRUMP token is expected on May 22 during the TRUMP Dinner event, where the top 220 TRUMP holders will meet the US President in Washington D.C. This event could generate significant interest and price movement, as token holders typically respond strongly to events associated with the US President. Potential outcomes include TRUMP exceeding resistance levels at $13.36 and $14.53, aiming for $17.14. A drop below the $12.18 support could result in a fall to $10.29, canceling the bullish outlook and causing a significant price decrease.

Floki (FLOKI)

FLOKI is striving to recover from a recent 21% loss after failing to break the $0.000113 resistance level. The presence of the Parabolic SAR above the candlesticks suggests potential downward pressure and a possible price decline for the meme coin in the short term.

An upcoming BADAI airdrop, originally delayed since February, could have a positive impact on FLOKI's price. If favorable updates are announced in relation to the event, investors eagerly awaiting it might drive buying activity, potentially counteracting bearish signals and supporting price stability. If FLOKI surpasses the $0.000100 level, it might challenge the $0.000113 resistance and trigger an uptrend. Conversely, breaking below the $0.000090 support level could lead to a decline towards $0.000071, invalidating the bullish outlook.