Flow

2024

Axie Infinity

Conflux

The post <a href="https://coinpedia.org/uncategorized/top-5-crypto-to-watch-in-august-2024/" rel="noopener noreferrer nofollow">Top 5 Crypto To Watch In August 2024</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
Today’s crypto market Is down with the total marketcap falling 4.61% to $2.19T in the last 24 hours. Major performing altcoins were also impacted by the overall bearish environment.&nbsp;
This comes after a series of notable events like the US Job report, BTC Spot ETF massive outflow of $237 million, and US Stock market washout of $3 Trillion.
Bitcoin price today faces nearly 10% drainage in the last 7 days, moving from $68,140 to the current price of $61,595.&nbsp;
In the chaos, the overall market sentiment remains bullish and indicates that here are our Top 5 Altcoins picks for this month, CFX, SOL, FLOW, STRK, AXS.
<h2 class="wp-block-heading" id="h-conflux-cfx-nbsp">Conflux (CFX)&nbsp;</h2>
CFX in July had impressive growth, the asset surged from its 52-week low of $0.1118 and invalidated the bearish trend around. But Opened in August 2024 in parallel to the Bitcoin price.&nbsp;
Today is down 6% and 22.7% down in the last 7 days. Au
Notably, Conflux has its Hard fork coming on the 6th of August that will improve the network function of Proof of Stake (PoS) lock/unlock/retire periods.
In the CFX/USDT chart, we can see the price trading near crucial support of $0.140, with the overall market scene it may correct slightly more.
&nbsp;The RSI at 36 shows the price moving in an oversold direction, which will trigger a buying opportunity with the Hard Fork event overhead.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdig-np2MmTz8YXGdeMp6egjtprJCy5FfpMg_YfBG1oDqTLEwKhIs3jewZ1OqKNITHyurUFzE11FtFP3inacC9LFMIVg14j8NITBpZLsdgTr3yYyMvpBdN1g1BAACWix-h5XNV37Bq3wqwb7BDtMJm1-Qy2?key=Yse0MUIUk-_NXiJ5cJ_Aeg" alt="">
</figure>
<h2 class="wp-block-heading" id="h-solana-sol-nbsp">Solana(SOL)&nbsp;</h2>
The institution’s favorite Solana(SOL) performance in July where it moved from the low of $130 to $194 followed by facing rejection to fall under the $160 support level today.&nbsp; Solana in July also flipped BNB in market cap and outperformed Litecoin, XRP, and Chainlink.
SOL is trading at $150.7 at the time of writing with continued bearish pressure.
SOL/USDT Chart shows the pricer moving in a Bullish Flag pattern and a breakout anytime is expected. The RSI is below the threshold of 30 showing the asset is oversold and MACD has neutralized as the histogram is recovering.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfeqOTFXpbSoLEG2Hmdp64h9njlB65wnLbQdU_st0Mk5rtf4jVXqK556G18A2ZJJ6J4RS6p7_CDNR9eOpXtGW55TfJUV3f91Y9UNeUE1t-XoIH_RMKDVdi7F5qBwDYka6OeSFrNy_N7AtjHFxo1FGnvGbs?key=Yse0MUIUk-_NXiJ5cJ_Aeg" alt="">
</figure>
If SOL fails to hold above $150 it will have to face retest at $145 and $135. If Validated, SOL is gathering the potential to hit $200 again.&nbsp;
<h2 class="wp-block-heading" id="h-flow-flow">Flow (FLOW)</h2>
The platform is eyeing the upcoming Crescendo Network Upgrade which is scheduled for August 14. This upgrade is proposed to achieve maximum decentralization and enhance network scalability.&nbsp;
Flow is currently in the downtrend moving 11% down in the past 24 hours, but the upcoming fundamentals and favorable market conditions can trigger a solid pullback.
FLOW/USDT Chart shows the assert is under its long-term resistance of $0.6, Awesome Oscillator in red, and RSI at 38 shows weakening momentum and the price may correct more.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe6j0tD4Wu-tqByLp_W69PVPNCVaqIFr-mRJb4z7c5rHG7QwSSuqDRLgT9yhnKTIH9DjP0txEhcrK40Xe6vaLJvf14ux4U_gRBJLzbkv4W7SEEGFeH0762BoVJER9kp5r18WoJQA_kUIabsqffe1vHplcHx?key=Yse0MUIUk-_NXiJ5cJ_Aeg" alt="">
</figure>
Conversely, if the market dynamics change FLOW will hit back above the $1 in August.&nbsp;
<h2 class="wp-block-heading" id="h-starknet-strk">Starknet (STRK)</h2>
STRK’s price yesterday registered an all-time low (ATL) and is making a slight recovery.&nbsp;
Starknet has a big update inline, the network upgrade that will boost the speed and increase TPS( transaction per second). Scheduled to take place in the last week of August.&nbsp;
This upgrade can be a catalyst in taking back control over bears and recovering strongly above the ATL territory.&nbsp;
STRK/USDT Chart Shows a falling channel pattern with RSI at 32 and AO in negative territory. The overall momentum is mixed but the new fundamentals inline and changing market trends can make this coin a garner in the next weeks.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfLjXickHbCPzFZwfXUczwzkxsKRlZ4Czo6ewnhsxaZ9Dvh4XzUOtVOmApY4S9zy_I7gH2ct6Cw39naetZn_t2r3cgy_2g4tNft70lKGXloOwY8CVCcmLq7jTX4gPUyTruEhTQWRD81vEGmT8qNoQq48dw?key=Yse0MUIUk-_NXiJ5cJ_Aeg" alt="">
</figure>
<h2 class="wp-block-heading" id="h-axie-infinity-axs">Axie Infinity (AXS)</h2>
After successfully closing the beta testing, Axie is all set to launch the Homeland Avatar Mode Open in the August end.
This is a major update in the gaming sector coin AXS which could trigger a claim back to the $6 territory.&nbsp;
The AXS/USDT Daily chart shows how the asset forms a head and shoulder pattern validating to drawdown.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfdqkenkEoVEwiQG7vCDGIZyxp85qTaQST51kMKpsdGBk37Vm_K5yvlChy93u-ItmtdynZqvyUGeClkBFqXZmATzuWkKZV03EFrWPrJgS1xAnLCIL7AF96SyN89jqx8GRb3JFTinUyY2zoYTjUQLziuS1qa?key=Yse0MUIUk-_NXiJ5cJ_Aeg" alt="">
</figure>
While the impact of the pattern has not been solid, a reversal from this zone is expected.&nbsp;

Top 5 Crypto To Watch In August 2024

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