The crypto market has kicked off August on a high note, with many altcoins hitting fresh monthly highs. After weeks of steady gains, attention is turning to which tokens might deliver the biggest return. Therefore, a well-known crypto analyst, AltCryptoTalk, has shared five tokens he believes could shine this week: NEAR, OP, ENA, ZK, and PENDLE.
With August’s positive trend still intact, these five altcoins could see strong moves in the days ahead.
NEAR (Near Protocol) – Eyeing $8
NEAR Protocol is back in focus this week, trading near $2.6 after an 8% gain over the past week. Much of the buzz is about a community vote to cut NEAR’s inflation from 5% to 2.5%, which could mean fewer new coins in circulation.
Looking at the weekly chart, Altcrypto suggests that the NEAR token must break above $3.65 mark to see a bullish run towards $8.
OP (Optimism) – Aiming for the Big Break
Optimism OP is showing renewed strength after bouncing off its support of $0.60 and is now trading around $0.74, reflecting a drop of 5.4% in the last 24 hours. If it can break above $0.833, analysts expect a strong upward push will lead it towards $1 mark.
However, an upcoming unlock of 31.34 million OP tokens at the end of August could bring short-term volatility, so expect traders to move fast.
ENA – Buy-the-Dip Opportunity
Ethen ENA surged over 30.87% this week as ENA’s stablecoin, USDe, surged to become the world’s third-largest dollar-backed stablecoin.
ENA’s daily trading ranges have broken through key resistance, and analysts say a push past $0.85 could quickly carry the price to $1 or more if current momentum holds.
ZK – Breakout Levels in Sight
ZkSync (ZK) has been trading around $0.055, reflecting a drop of 4.7% seen in the last 24 hours. Altcrpytotalk believes that a move past $0.065 could spark short-term gains, while a break over $0.088 would signal a stronger medium-term rally.
Meanwhile, a massive token unlock is scheduled for August 17, bringing 173 million new tokens into circulation.
PENDLE – Bullish Trend Toward $7
Pendle is in the spotlight after its price broke above the $5.3 mark after surging more than 37% in a week. With technicals pointing to a continued uptrend and big trading volumes, Altcrypto predicts PENDLE could reach $7 if market sentiment holds.
On the flip side, a drop below $5.20, however, could open the door to a pullback.
Analyst AltCryptoTalk highlights NEAR, OP, ENA, ZK, and PENDLE as top altcoins to watch, each showing strong technical setups for potential breakouts in August.
Top analyst picks for August include NEAR ($8 target), OP ($1 breakout), ENA (30% weekly gain), ZK (pre-unlock rally), and PENDLE ($7 potential) based on strong technical setups and fundamentals.
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