All through August, the cryptocurrency market has remained largely bearish, leaving many altcoins struggling to seek out momentum. Whereas most main cryptocurrencies have did not impress, some hidden gems are rising as potential winners.
BeInCrypto has scoured the market and recognized just a few altcoins that buyers ought to regulate this month.
Helium (HNT)
Among the many high 100 cryptocurrencies, Helium (HNT) has distinguished itself as a standout performer, recording an increase of over 43% in August regardless of the general bearish market. This implies that Helium might proceed to carry out effectively within the coming months, making it a coin to look at intently.
HNT is at the moment buying and selling inside a spread of $6.33 to $8.01, with these ranges appearing as key consolidation factors. The crypto’s subsequent transfer will depend on whether or not it could break via the $8.01 resistance stage.
If bullish momentum continues, HNT is more likely to breach this resistance, probably pushing the value towards $9.00, which might result in additional beneficial properties for buyers.
Learn extra: Helium (HNT) Worth Prediction 2024/2025/2030
Nonetheless, any additional beneficial properties rely on HNT breaking the $8.01 resistance stage. If Helium fails to surpass this mark, the altcoin might keep inside its present buying and selling vary. This consolidation may frustrate buyers searching for greater returns, because the absence of a breakout might point out a interval of stagnation quite than progress.
SUN.io (SUN)
SUN, the native token of the TRON-based SUN.io platform, has captured the market’s consideration with its latest efficiency. Identified for being TRON’s first one-stop platform supporting stablecoin swaps, token mining, and self-governance, SUN has seen a exceptional 326% rise in simply 9 days.
Presently, SUN is buying and selling at $0.0346, hovering just under the crucial resistance stage of $0.03943. This resistance has confirmed tough to interrupt prior to now, resulting in tempered expectations for a breakout.
Regardless of this, SUN will seemingly preserve its place above the $0.0253 assist. Traders could discover this vary essential because it represents a consolidation zone the place the token might collect power for future makes an attempt at breaking resistance.
Learn extra: 7 Finest Tron Wallets for Storing TRX
Nonetheless, the chance of a downturn stays. If promoting stress intensifies, SUN might drop under the $0.0253 assist, erasing a lot of its latest beneficial properties. Such a decline would invalidate the bullish outlook and will sign a return to bearish circumstances.
BinaryX (BNX)
BNX, the native token of the BinaryX GameFi ecosystem, is exhibiting indicators of a possible bullish breakout. Presently buying and selling at $1.27, BNX is shifting inside a broadening ascending wedge. The token has been bouncing off the decrease pattern line of this sample, indicating it is likely to be gaining upward momentum.
For the bullish sample to be confirmed, BNX must flip the $1.66 affirmation line into assist. If this occurs, it will validate the breakout potential, presumably pushing the value towards the $2.00 mark. Based mostly on the broadening wedge sample, such a breakout might result in a 39% enhance, setting a goal worth of $2.81.
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Nonetheless, the bullish outlook for BNX will depend on efficiently flipping the $1.66 affirmation line into assist. If BNX fails to breach this stage, the bullish thesis could be invalidated. In that case, the token would seemingly stay consolidated throughout the $1.66 to $1.19 vary, which might dampen investor enthusiasm and end in a interval of consolidation.
Disclaimer
According to the Belief Undertaking tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to alter with out discover. All the time conduct your individual analysis and seek the advice of with an expert earlier than making any monetary choices. Please observe that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.
