August has been a notable bearish month for the crypto market place. This is evident in the two Bitcoin (BTC) and other cryptocurrencies, which have plummeted from their yearly highs in July.
Although the crypto market place is trending down, numerous other cryptocurrencies are even now displaying optimistic indications. With that in thoughts, TinTucBitcoin will get a appear at the major September cryptocurrencies that could hit all-time higher charges.
OKB price tag supports a new ATH
The price tag of OKB has enhanced considerably given that June 2021. This rise resembles a 5-wave (white) rally. If it is, it is at present in the fourth wave of this rally in accordance to the Elliott Wave count.
Technical gurus use Elliott Wave concept to decide the path of trends by learning lengthy-phrase repeating worth patterns and investor psychology.
The fourth wave has taken the form of an isosceles triangle, which is the most widespread form in the fourth wave. This favors the wave evaluation and the doable price tag action to penetrate the triangle into the long term.
If OKB breaks by way of the triangle, the following resistance will be at $72.ten, which is the all-time higher. The target is defined by one.61 Fib(extension) of the fourth wave. It also matches the prediction of the length of the triangle from the stage of penetration (white). The present target price tag is 70% larger.
Although OKB price tag is anticipated to rise sharply, if the price tag breaks out of the triangle and the $42 assistance place, it will indicate the trend continues to be bearish. In that situation, the price tag could drop as substantially as 25% to the following assistance at all over $thirty.
Ocean Protocol (OCEAN) is displaying indications of a Breakout
OCEAN price tag has fallen under the resistance diagonal immediately after reaching a historic peak of $one.94 in April 2021. This downtrend has lasted for 829 days. During this time, the price tag experimented with to cross this diagonal 6 instances without having good results (as noticed in the red symbols).
Since a trending diagonal usually loses power with each and every get hold of, there is a higher probability that the price tag will sooner or later break this diagonal.
Moreover, given that the starting of February, the price tag has been trading in a parallel downward channel (white). This pattern is typically connected with corrections. Therefore, the most probable long term price tag situation is to break by way of this channel. This prediction is steady with repeated attempts to break resistance weakening established lengthy-phrase resistance.
However, reaching the past peak will be a sizeable challenge as the present price tag distinction is better than 500% in contrast to the historical peak.
A much more reasonable target immediately after a prosperous lengthy-phrase breakout would be the $one resistance place. This place is 215% over the present price tag.
Bitcoin Cash (BCH) price tag broke by way of a correction pattern
Since November 2022, the BCH price tag began to improve and in June 2023 it created a larger minimal, indicating a more powerful uptrend. This resulted in the highest price tag of the yr at $329.
The price tag motion can be viewed as a series of 5 waves. After a rebound at the .618 Fib retracement assistance on August 17, which confirmed assistance and verified the descending parallel channel, it is probable that the fourth wave has ended.
If wave 5 continues, we can anticipate BCH price tag to break out of the descending channel and quite possibly attain amounts close to $400. Although this is not the highest price tag ever, it even now achieves a sizeable development of up to 90% from the present price tag.
However, regardless of the optimistic forecast for the BCH price tag, if the price tag closes under the resistance diagonal of the channel, this would indicate that the breakout was unsuccessful. In this situation, the price tag could drop all over 35% to the nearest assistance at $140.
Toncoin (TON) could accelerate in September
TON price tag has fallen under the bearish resistance line given that December 2022. The rejection in April 2023 induced a sharp fall, main to a price tag minimal of $.96 on June eleven.
However, charges have enhanced given that then. After an first deviation, TON re-established the $one.35 horizontal zone as assistance.
TON is striving to break the bearish resistance line. If prosperous, the price tag could rise to the following horizontal resistance at $two.60. This would be a 50% development, calculated from present charges.
However, the TON price tag improve prediction will also be invalid if the price tag can’t rise. In that situation, the highest probability is that the price tag will fall 22% and attain the assistance degree of $one.35.
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