Cryptocurrency analysts name 4 tokens that can update historical highs in September

Editor’s note: not financial advice!

August was not very successful for the cryptocurrency market, and especially for bitcoin — by the end of the month, the main cryptocurrency had significantly dropped in price, falling to a two-month low. However, September may be more positive — at least for a number of altcoins that are showing bullish movement on their charts. Cryptocurrency analysts have identified 4 tokens that could update their historical highs in September.

OKB

The value of the OKB cryptocurrency has increased significantly since June 2021. This growth resembles a five-wave upward movement. If this is the case, then OKB’s price is currently in the fourth wave, which has the shape of a symmetrical triangle.

If the asset breaks out of the triangle, the next resistance will be at $ 72.10, which corresponds to a new all-time high. The target is at the 1.61 Fibonacci retracement level. The crypto asset is currently trading at an average price of $ 42.85 with a market capitalization of $ 12.8 million.

Ocean Protocol (OCEAN)

After reaching an all-time high of $ 1.94 in April 2021, OCEAN’s price fell under a downward resistance line that has been in place for 829 days. During this time, the asset has tried to break above it 6 times without success. According to cryptocurrency analysts, the likelihood that the OCEAN price will eventually break out of this area is increasing.

In addition, since early February, Ocean Protocol has been trading within a downward parallel channel. This pattern is usually associated with corrective movements, so the most likely scenario for further developments is a breakout from this channel. At the time of writing, OCEAN is trading at $ 0.32, up 2.3% over the past 24 hours.

Bitcoin Cash (BCH)

BCH began an upward movement in November 2022. After forming a higher low in June 2023, the price accelerated its growth rate, leading to a new annual high of $ 329.

The entire upward movement of Bitcoin Cash looks like a five-wave rise. If this is the case, then the digital asset has completed the fourth wave, pushing off the 0.618 Fibonacci support level and confirming the support line of the downward parallel channel.

If the fifth wave materializes, BCH will break out of the downward channel and reach a new high of almost $ 400, which is 90% higher than the current price, experts believe. Bitcoin Cash is currently trading at $ 194, having dropped by 0.7% over the past day.

Toncoin (TON)

Since December 2022, the price of TON has been under a descending resistance line. A deviation from it in April 2023 was the catalyst for a sharp drop, which led to a low of $ 0.96 on June 11. However, after that, the price began to rise. After the initial rejection, Toncoin returned to the $ 1.35 horizontal area, confirming it as support.

The asset is currently trying to push off the downward resistance line. If successful, the price of Toncoin is likely to move to the next horizontal resistance at $ 2.60, which is 50% higher than the current values.

Last week, TON’s quotes approached the $ 2 level, but failed to overcome the psychological milestone. The asset grew by more than 2.4% per day and by 29.3% over the past 7 days. At the time of writing, Toncoin is trading at $ 1.89.

As a reminder, we recently talked about 4 cryptocurrencies that are predicted to fall significantly in September. Among them: DASH, ALGO, EOS, and XTZ.