Cryptocurrency analysts highlighted the top 5 tokens worth paying attention to in August

! Not financial advice — ed.

Despite the fact that July was mostly bearish for the crypto industry, some altcoins showed significant growth. Cryptocurrency experts have identified five tokens that may attract investors' attention in August.

Litecoin (LTC)

Market analysts are convinced that halving in the Litecoin (LTC) network can lead to an increase in the price of the crypto asset. When the project was first launched, miners were given 50 LTC of reward for each block mined. After mining 840,000 blocks (approximately once every four years), the reward is halved — this will continue until the reward per block is zero. After the current halving, the reward decreased to 6.25 LTC per block.

At the time of writing, the asset is trading at $ 86.16 pi with a market capitalization of $ 6.33 billion. Traders made daily trading deals worth $ 876 million.

If the token continues its growth, the next resistance is expected at $ 102.

Icon (ICX)

on July 31, ICX launched the XCall Incentivized Testnet, which offers community members incentives for helping with development. The network will focus on testing various functionalities, decentralized applications, and tools. For a quality contribution to the work, you can get up to 845,000 ICX.

on June 22, the ICX price made a bullish breakout of the downward resistance line. Despite this, the asset’s price failed to overcome the horizontal resistance area of $ 0.25. Thus, the trend for ICX cannot be considered bullish until the price goes higher.

As of now, the token is trading for $ 0.2 with a market capitalization of $ 206.4 million. The daily trading volume exceeded $ 3.52 million. Crypto experts note that in the event of a successful breakout, ICX could rise to the next resistance at $ 0.55. This would mean a 55% increase. However, if the bulls fail, the price could fall by 22% to around $ 0.17.

Horizen (ZEN)

The price movement of ZEN is very similar to that of ICX. Although the price of the crypto asset broke through the downward resistance line, it failed to overcome the key horizontal resistance at $ 9.45. On the contrary, it rolled back from it three times, forming long upper wicks (marked in red on the chart).

On the other hand, in the event of a successful breakout, ZEN could rise by 60% and reach $ 15. For now, the upcoming testnet supports the coin’s bullish momentum.

on August 3, the crypto asset was trading at $ 9.27. The total supply amounted to $ 130 million. Traders made daily trading deals worth $ 6.45.

Tezos (XTZ)

In early July, the XTZ price broke through the downward resistance line. Although the breakout of such structures usually leads to significant growth, this did not happen in the case of Tezos. On the contrary, since then, the token has been hovering around the breakout level without any dynamics.

At the time of writing, the crypto asset is trading at an average price of $ 0.829. The market capitalization amounted to $ 785.1 million, and the daily trading volume exceeded $ 16.9 million.

If XTZ doesn’t grow in the near future, the coin risks falling to an annual low of $ 0.7. However, if the positive trend continues, the price of the crypto asset could strengthen by 45% and reach the next resistance at $ 1.20.

Ultra (UOS)

The Ultra arena gaming platform will be launched on August 8. This is a platform for online tournaments that will allow gamers to compete in their favorite games and win various prizes. The launch may give the necessary impetus to the growth of the UOS price, which has almost broken through the support area of the annual minimum at $ 0.17.

At the moment, according to CoinMarketCap, the asset is available for purchase at $ 0.19 with a market capitalization of $ 67.9 million. Traders made daily trading deals worth $ 5.67 million.