Analysts name the tokens that will update their historical highs in August

Investors expect the cryptocurrency market to grow in August. According to cryptocurrency analysts, 4 tokens have a good chance of recovering from the second quarter losses and reaching new ATHs in August.

MANTRA (OM)
The native RWA token of the MANTRA blockchain has rallied by 1956% this year. Over the past 30 days, its price has increased by 50.15%. This increase made OM the best cryptocurrency of July.

In August, the token may continue to grow and move past the current historical high of $ 1.42 reached on June 22. To do so, the price needs to rise by about 18%. Online metrics show that OM is supported by large institutional players who are accumulating the asset.

Solana (SOL)
A few days ago, the open interest rate for the Solana project token reached a new annual high. During the same period, the number of active addresses in the network reached a maximum of almost three years.

Currently, the price is about 30% away from the historical high. If the token performs better than it did in July, it could break its record. One of the reasons for this forecast is Solana’s dominance over Ethereum (ETH). On one day in July, the price of SOL surpassed ETH by 42.50%, confirming its status as the leader of this cycle.

Toncoin (TON)
Toncoin, the native token of the TON project, has faced strong resistance. However, it has a chance to move the historical high in August. At the time of writing, TON is trading 17% below its all-time high.

From a technical standpoint, there is a lack of sellers and slow growth on the charts. The Relative Strength Index (RSI) also supports this forecast, gaining bullish momentum.

Jupiter (JUP)
This year, the Jupiter platform has made a loud statement in the decentralized exchange (DEX) segment. Today, Jupiter is one of the largest DEX aggregators based on Solana. Recently, it became known that the project plans to reduce the supply of tokens by 30%. This may have a positive impact on the token price. However, this proposal is subject to voting, and the result is expected in the first week of August 2024.

All things considered, the Jupiter community is set to approve the proposal. In the meantime, the RSI has risen significantly. This means that the momentum and sentiment around the cryptocurrency is now positive.