September is approaching. Already, investors are in a hurry to prepare an altcoin list. The global cryptocurrency market cap has dropped slightly by 0.35% in the last 24 hours. Accordingly, with $1.05 trillion in value, traders and investors are looking to September in hopes of rebounding from the recent market fluctuations. Among the myriad of digital assets, five altcoins – Phantom (FTM), Optimism (OP), Axie Infinity (AXS), Sei (SEI) and Solana (SOL) – have emerged with promising signs for potential significant gains in the coming month.
Altcoin Phantom (FTM): uptrend taking shape
Altcoin Fantom (FTM) is currently trading at $0.2076. Accordingly, it suffered a loss of 1.44% in the 24-hour period. Despite this setback, a bullish-focused falling wedge has formed on the daily chart of FTM, signaling a potential short-term rally in the next two weeks.
If this pattern continues, altcoin FTM will target $0.2835 throughout September and early October. On the other hand, it will potentially push the main resistance at $0.3890. Confirmation of this uptrend will occur if FTM closes three consecutive daily candles above $0.2145. Otherwise, the altcoin will test the next support level at $0.17.
Altcoin Axie Infinity (AXS): charting a path to recovery
Altcoin Axie Infinity (AXS) has recently dropped 0.62%. Accordingly, its price remained at $ 4.91. Despite this, it recorded a notable 7.89% increase in daily trading volume, reaching $15,581,823. Like FTM, AXS is displaying a bullish falling wedge pattern on its daily chart.
If this formation is valid, altcoin AXS will rise to $6.75 in September upon a successful close above the $5.20 resistance level. A permanent break above this point will push AXS as high as $9.65 provided buyers remain active. Conversely, failure to exceed $5.20 will cause the price to drop to the critical support level of $4.55.
Optimism (OP): Symmetrical triangle
Altcoin Optimism (OP) is gaining 1.71% in the last 24 hours. Accordingly, it increased its price to $ 1.49. This positive momentum signals a potential breakout in the coming weeks as a symmetrical triangle is forming on the OP’s daily chart.
The price of the cryptocurrency is testing the $1.51 resistance level. If it successfully closes above this point, it will target the next key resistance at $1.87 during the week. A confirmed bullish burst will allow altcoin OP to reach $2.36. However, failure to exceed the $1.51 resistance will lead to a decline to the $1.16 vital support level.
Sei (SEI): A recent setback
Sei (SEI) suffered the biggest loss among these altcoins. Its price is stuck at $0.1458, down more than 5% in the last 24 hours. The SEI gradually declined after showing a notable rise from the $0.0640 listing price to $0.4800 in mid-August 2023. It is currently hovering near the $0.1455 support level. It creates a potential buying opportunity.
If traders accept this level as a strategic entry point, the price of altcoin SEI will regain a position above $0.1790. On the other hand, it offers a clear path to reach $0.2835. Conversely, failure to close above $0.1517 will extend its decline.
Solana (SOL): Ethereum-Killer’s next move
Altcoin Solana (SOL) has experienced a price drop of 2.75% in the last 24 hours. Accordingly, it was traded at $ 21.25. A symmetrical triangle formation is seen on the daily chart. Accordingly, this signals that an important price movement is approaching. A downside break will cause the SOL to retest the $19.70 support level. It will also potentially lead it to drop as low as $17.10.
Conversely, an upside break will push the SOL towards the $25.80 resistance level. It will also set the stage for a rise to $25.80 in September. An early indicator of a bullish breakout would be if the price of SOL closed a daily candle above $22.10. These five altcoins showcase their potential for significant price movements. Therefore, when we look at Kriptokoin.com, September brings an atmosphere of expectation for crypto money enthusiasts. However, as with any investment, market conditions change rapidly. Therefore, cautious and conscious trading strategies are among the recommendations.
50888
