The Bitcoin market is facing a dump from ancient OGs. Recently, ETH has performed strongly, with several OGs dumping BTC directly for ETH, while in the ETF market, there has been continuous outflow of funds. This is why Bitcoin has been so weak recently. However, short-term adjustments are not a big deal; it will rise again in September.
ETH remains strong, but the continuous ATH has not driven altcoins to surge, such as LINK, UNI, ENA, ETHFI, etc. These leading altcoins have performed relatively calmly, perhaps the market is still waiting for ETH to continue its ATH. In short, the altcoin market should focus on quality leading tokens and avoid the rest of the junk.
Currently, the interest rate cut in September is confirmed, which is consistent with our previous statement of a 100% rate cut. It is expected that there will be another round of FOMO in September, followed by a potential pullback in October. In short, as we move forward, everyone should be more cautious; even if not making a profit, we must ensure the principal.
Layout 3 altcoins with a potential 10x increase in the future!
1.neo
BIO's recent performance is a textbook example of fractal patterns, demonstrating how bullish reversals unfold. After forming a descending wedge (a classic reversal pattern), BIO consolidated below the 100-day moving average and the red resistance zone, then reclaimed the 200-day moving average, triggering a parabolic rebound of over +300%.
NEO now seems to be on a similar path.
The token has successfully broken through the descending wedge pattern, reclaimed the 100-day and 200-day moving averages, and established support near the $8.0 red zone. NEO is currently trading at $8.19, and its structurally strong performance is encouraging as buyers defend this breakout level.
If the fractal continues to unfold, holding the support level at $8.0 may become a springboard for the next round of increases. The next important resistance levels are around $11.41 and $15.42, indicating a potential upside of 88% from current levels.
2.BNB
Another significant catalyst for the rise in Binance Coin price is its strong technical outlook, which will drive it higher over time. The chart above shows that Binance Coin has consistently remained above the 50-day and 100-day moving averages.
BNB price has also formed a highly bullish cup and handle pattern. This pattern consists of a rounded bottom and a handle. In this case, the depth of the cup structure is approximately 35%. Measuring the same distance from the top of the cup, the target price is $1,100.
BNB price has more bullish catalysts and will continue to push its price up in the long term. For example, VanEck has applied for a BNB spot ETF, which is expected to be approved later this year. Such a fund is likely to bring a large influx of capital to BNB.
Another major factor driving BNB price up is the rise of Binance Coin asset management companies like Windtree Therapeutics, CEA Industries, and Liminatus Pharma. These investment strategy companies, which emulate Strategy, will stimulate the growth of demand for BNB tokens.
3.DOT
Polkadot is another top cryptocurrency to watch this week, as investors focus on key developments in the network. One of the most important developments is that the community is voting on the network's inflation model.
Data shows that hard pressure voting is winning, which means it will be implemented in the network soon. The main implication of this model is that the token issuance will decrease, which will reduce the staking annual percentage yield (APY) from the current 14% to 0.16% by 2036.
While reducing staking rewards is a good thing, low inflation will be beneficial for Polkadot. Therefore, DOT's price will react to any new developments from this vote.
Polkadot has other significant developments in the future. For example, the upcoming connection accumulation model (JAM) will allow Polkadot to break away from the relay chain and become a direct competitor to projects like Ethereum and Solana.
The daily chart shows that DOT price has been fluctuating within a narrow range over the past few days. It has formed a symmetrical triangle pattern, with two lines about to converge.
Most importantly, as the 50-day and 200-day weighted moving averages (WMA) cross each other, the token is about to form a golden cross pattern.
Therefore, the triangle pattern and the upcoming golden cross combination indicate that a strong rebound may occur as early as this week. If this happens, the next point to watch will be the psychological level of $5.
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