Altcoins

Crypto Market Forecast Bullish Sentiments, Which Altcoins Can Earn You More Profit?

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Highlights

    With the bullish momentum hovering around the bitcoin price, many altcoins are looked to earn good profits this month

    As the market trend is also going up, assets like EGLD, FET, etc could explode along with BTC, ETH, ADA

The fresh month start was quite bullish as the Bitcoin price rose above $42,000. No doubt a slight pullback also made its way but still, the price seems to be self-assured to regain the lost positions. And hence, most of the altcoins are expected to follow including ETH, ADA KAVA, SXP, etc.  

While Ethereum price remained above $2500, Cardano price maintained above $1.3. Let’s have a close look at the coins that look promising for the month of August. Analyst, Micheal De Van Poppe, lists some prominent altcoins that have the potential to explode with three-digit gains.

Analyst lists the below-mentioned altcoins which could surge with a massive number this month.

Elrond(ELGD)

The ELGD price shifted its trend by forming a new higher low at the beginning of 2021. And later amid the bull market, the price advanced by peaking to its highest levels and later entered consolidation. Currently, the price is heading towards the crucial resistance levels above $95 and by flipping it into support levels, the price could jump to the next levels above $150 with a nearly 70% jump

Fetch.ai(FET)

Fetch.AI price kicked off the trade with a decent price movement. After visiting the bottom levels, the FET price spike high close to $1. Later a pullback slashed the price more than 60%. However, in the past couple of days, the price flipped the bear magnificently and appears to be poised to regain lost levels. Therefore, a subsequent jump to the next levels above $0.7 could be fast approaching.

Skale Netwrok(SKL)

Skale Network at the time of launch followed a consolidated trend for more tha 4 months until a drastic jump rallied the price by nearly 350%. The very next price moments were pretty bearish and the price dipped to its previous levels. Yet maintained strongly above crucial levels showcasing a healthy consolidation. And therefore, a subsequent could be on the cards as the price is constantly attempting to form higher highs and lows after flipping lows.  

Kava.io(KAVA)

Kava.io price chart appears more promising as the price maintained an uptrend despite the market slash and multiple corrections. A prominent pullback dragged the price with a huge margin yet the price rebounded by forming huge higher highs and breaking the crucial resistance levels. And currently, the price is standing on a crucial resistance level at $5.75 and a successful breakthrough may escort the price close to the ATH. 

Swipe(SXP)

The Swipe daily chart showcases the extreme bullish narrative as it maintained its trend of hitting higher levels. After forming a couple of spikes, the price underwent a drastic uptrend and hit its highest levels. Further, no doubt the price bottomed drastically, yet managed to form higher highs within no time. The very next resistance levels are around $4.20, about 66% away from the current levels. And within the ongoing rally, the price could not only hit these levels but clinch the ATH with a more than 100% jump. 

Collectively, August 2021 is predicted as a fruitful month by analysts, after two & a half months of drought. With the BTC price gaining momentum, many altcoins are expected to follow and jump with pretty large margins in the coming days.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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