Altcoin Top 10 Artists Showcase for August 2021

August was an extremely optimistic month for the cryptocurrency markets. Bitcoin (BTC) was up 17%, while more than ten tokens experienced triple-digit growth rates.

ten altcoins that rose the most in August are:

  1. TrueFi (TRU) – 234.3%
  2. Solana (SOL) – 221.4%
  3. Keep3rV1 (KP3R) – 194.1%
  4. CertiK (CTK) – 155.6%
  5. Coti Network (COTI) – 148.4%
  6. Audio (AUDIO) – 127.4%
  7. Close to protocol (CLOSE) – 123.9%
  8. Trust Wallet Token (TWT) – 120.0%
  9. Ring ring (LRC) – 119.2%
  10. Serum (SRM) – 115.3%

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On August 5, TRU broke out amid a huge bullish engulfing candle and proceeded to hit a new all-time high of $ 1.

After a sharp drop, it started another bullish move that led to a new all-time high of $ 1.06 on August 12. Both highs were reached very close to the 1.61 Fib external retracement resistance level of $ 0.952.

Since then, the token has moved down. However, it is still trading above the horizontal support level of $ 0.47, which is also the Fibonacci retracement support level of 0.618 when the entire up move is measured.

As long as it does, the trend can be considered bullish.

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SUN

SOL has risen at a rapid rate since July 21. On August 21, it reached an all-time high of $ 82. After a slight decline, it resumed its upward move and hit a new all-time high of $ 120.5 on August 31.

Currently, the token is trading right at the 2.61 Fib external retracement resistance level when the most recent part of the decline is measured. This area could act as resistance.

If SOL breaks through, the next resistance will be at $ 155.

A potential bearish divergence is developing on the oversold RSI. However, the MACD remains bullish.

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KP3R

KP3R has been on the rise along with an ascending parallel channel since August 5. Such channels often contain remedial facilities.

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So far, it has managed to hit a high of $ 309, arriving on August 30. However, it was rejected by the 0.618 Fibonacci retracement resistance level at $ 297 and has been moving lower ever since.

rejection also coincides with the resistance line of the channel. On top of that, the RSI has generated bearish divergences.

This supports the possibility that the move is corrective and that KP3R will not break out of the channel anytime soon.

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CTK

On August 18, CTK broke a descending resistance line. It continued to climb until it peaked at $ 3,085 on August 25.

While the high was reached above the 0.618 Fibonacci retracement resistance level of $ 2.72, the token has fallen below it.

Both the MACD and the RSI are showing signs of weakness. former created four consecutive lower momentum bars, while the latter fell below 70.

closest support area is at $ 1.64. This is both a horizontal support area and the 0.618 Fibonacci retracement support level (white).

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COTI

COTI has been trading within a parallel descending channel since March 8. On August 25, it broke out amid a huge bullish engulfing candle and peaked at $ 0.49.

However, it was rejected by the 0.786 Fibonacci retracement resistance level and fell sharply the next day.

On top of that, both the MACD and the RSI are showing bearish signals. former generated three bars of momentum lower, while the latter fell below 70.

token is currently trying to find support above the 0.5 Fib retracement support level and the resistance line of the parallel channel.

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AUDIO

AUDIO has moved lower since August 7, when it hit a high of $ 4.07. It created a long top wick (red icon) on the same day, validating the $ 4.05 horizontal area as resistance.

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Since then, the token has moved lower, a decline that has been combined with a decline in both the MACD and RSI.

AUDIO is currently trading just above the 0.5 Fibonacci retracement support level at $ 2.32. closest horizontal support area is at $ 1.40.

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CLOSE

NEAR broke a descending resistance line on August 21. It continued to hit a high of $ 6.59 the next day.

However, it broke away from the $ 6.60 resistance area and has been moving lower ever since.

On August 27, it rallied to the horizontal support area of ​​$ 4.66, which is the Fibonacci retracement support level of 0.382 and coincides with the resistance line from which NEAR broke out.

As long as it trades above it, the trend can be considered bullish.

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TWT

TWT has grown rapidly along with a parabolic support line since July 20. So far it has peaked at $ 0.99 on August 23.

Currently, it is validating both the parabolic support line and the horizontal area at $ 0.80. If it does so successfully, it will likely trigger an upward move towards a new all-time high.

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LRC

On August 22, the LRC broke a long-term descending resistance line and peaked at $ 0.61. It started another bullish move on August 29, which led to a high of $ 0.75.

However, the break did not hold and created a long upper wick. LRC is now trading below the horizontal resistance area of ​​$ 0.58.

For the trend to be considered bullish, the LRC must break above this zone.

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SRM

SRM has been climbing along with an ascending support line since July 21. It initially peaked at $ 8.62 on August 19. After a drop that once again validated the support line, SRM hit a high of $ 10.15 on August 31.

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However, it failed to break through the $ 10 resistance area and created a long upper wick.

For the trend to be considered bullish, SRM has to break out of this area.

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For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.

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