4 cryptocurrencies that may rise to new highs in August

! Not financial advice — ed.

Cryptocurrency experts called July «not very successful» for the digital asset industry. This is especially true for the flagship cryptocurrency BTC $92,725.22 Bitcoin -1.64% Market capitalization $1.83 trillion VOL. 24 hours $5.35 billion - as of the morning of July 31, bitcoin has not managed to break through the $ 30,000 level. The main digital asset is trading at $ 29,423.

However, analysts suggest that August may be more positive for the crypto market, at least for altcoins. They have identified several virtual coins that may show a steady bullish trend next month.

OKB (OKB)

For a year now, crypto experts have been recording the rapid growth of OKB — the cryptocurrency’s chart shows a five-wave upward movement. The asset is currently in the fourth wave.

If analysts' interpretation is correct, OKB’s price will head to the next resistance level at $ 72.10, setting a new all-time high. Currently, the crypto asset is trading at an average price of $ 42.66 with a market capitalization of $ 12.7 million. Traders have made daily trading deals worth slightly more than $ 1 million.

Maker (MKR)

In July, MKR experienced two important bullish events at once: the asset’s price broke above the 790-day descending resistance line and overcame the horizontal resistance zone at $ 1000. The next important resistance level for Maker is $ 2100. This would mean a 70% increase compared to current levels.

At the time of writing, the cryptocurrency is available for purchase at $ 1,271. The market capitalization amounted to $ 1.2 billion, and traders made daily trading deals worth $ 101 million.

TomoChain (TOMO)

The price of TOMO also shows clear bullish signs. Market analysts explain that the main reason for this is the 450% upward movement that has been going on since the beginning of the year. During the growth, the asset’s price returned to the $ 0.95 resistance area. This is a very important level, as it is the last horizontal resistance before the all-time high of $ 3.90.

The wave chart suggests that TOMO is in the fifth and final wave of growth. If the calculation is correct, then a continuous rebound to the $ 0.95 area (marked with a green icon on the chart) will mean the end of the fourth and the beginning of the fifth wave. An upward movement to the all-time high would mean a 160% increase from the current price of $ 1.54 with a market capitalization of $ 154.2 million. TOMO’s daily trading volume exceeded $ 22.8 million.

Ocean Protocol (OCEAN)

OCEAN has been under a descending resistance line since reaching an all-time high of $ 1.94 in April 2023. This line has been in place for 829 days, and so far, the asset has made six unsuccessful breakout attempts (they are marked with red icons on the chart). Crypto experts are confident that as the resistance becomes weaker, it is only a matter of time before it breaks through.

As of now, the asset is available for purchase at $ 0.35. The total supply of coins circulating on the market is $ 495.7 million. Traders have made daily trading deals worth $ 16.7 million.