Introducing 3 altcoins that you should watch in the next month
As the month of August draws to a close, analysts have identified 3 altcoins with good potential for traders to keep an eye on.
List of titles
Summary of analysis
- Analysts believe that Tron is in good condition.
- In addition, according to them, traders can also monitor Ave and Cardano.
According to BIN Crypto, Bitcoin's dominance is in the range of 57%. However, analysts believe that the following 3 altcoins have a good chance of growth.
1. Theron
The Tron price recently hit a three-year high of $0.17. This incident made Tron one of the top 10 currencies in the market and replaced Cardano. This digital currency has grown by 15% in the last thirty days and its performance has been better than Bitcoin.
It seems that the launch of the SunPump meme coin platform on the Tron network has been effective on the growth of the aforementioned altcoin. This incident caused Tron's dominance in social networks to grow strongly and reach more than 6%.
From a technical point of view, the OBV volume index has grown and confirmed the buying pressure of Tron. As a result, if the accumulation of Tron continues, its price may reach $0.14 or even $0.17. This digital currency may even reach $0.19 in September.
2. wow
Ave grew about 18% in the last 30 days and managed to attract the attention of whales. Ave's foray into real-world asset tokenization and collaboration with BlackRock seems to have helped its growth.
It should be mentioned that on August 5 (15 August) the price of Ave reached below 80 dollars. This altcoin was then able to make a higher floor in the $146.49 range. RSI also confirmed the buying pressure.
These conditions eventually helped the growth of Ave, but this digital currency reached the level of $118 again in the previous days. The chart and the decline of the Ave RSI indicate that there is a possibility of its growth again. In order to achieve this goal, Ave holders need to protect the support at $118 to bring it to the resistance at $129.64.
However, the loss of said support puts Ave at a high risk of falling.
3. Cardano
The Chang Cardano hard fork is scheduled to take place on September 1. This upgrade is supposed to bring such governance to the Cardano blockchain for the first time. That's why Cardano holders are impatiently waiting for this to happen. They claimed that Cardano's 130% price growth could be repeated after the 2021 upgrade.
The MACD indicator indicates that traders may use the decline of this altcoin as a buying opportunity. However, Cardano must be able to reach $0.40 first. Crossing this resistance will bring it to the level of $0.44. However, if traders use the “Buy the Rumor, Sell the News” strategy; Cardano price may reach $0.32 after Chang's hard fork.
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