in short
Kaspa, Binance Coin, Brett, and Mantra show the potential for new highs in September, driven by bullish technical patterns.
If key levels hold, KAS could reach $0.21, BNB could reach $750, Brett could surge to $0.20, and Mantra could break through $1.42.
The success of each coin depends on market momentum and breaking through key resistance points over the next month.
For much of this cycle, many altcoins have struggled to maintain their bullish outlook, resulting in only a handful of altcoins setting new all-time highs (ATHs).
However, as the third quarter of the year enters its final month, some altcoins are beginning to show signs that they could surpass their previous peaks. This analysis highlights four altcoins that have the potential to set new highs and the reasons behind this optimistic outlook.
Kasper (KAS)
Kaspa (KAS), a cryptocurrency based on the Proof of Work (PoW) consensus mechanism similar to Bitcoin (BTC), is at the top of the list of altcoins expected to hit new all-time highs. Currently trading at $0.16, KAS has been setting new all-time highs since June until August 1st.
Looking ahead to September, BeInCrypto expects KAS to maintain its upward momentum, with the potential to break through $0.20. On the daily chart, KAS has been fluctuating between $0.15 and $0.17 over the past 22 days, indicating that the $0.15 level has become a key support point for the cryptocurrency.
Additionally, KAS’s Money Flow Index (MFI) is currently at 24.38, indicating oversold conditions. The MFI measures liquidity inflows and outflows of an asset and helps determine whether a cryptocurrency is overbought or oversold. Readings of 80.00 or above indicate overbought conditions, while readings of 20.00 or below indicate oversold conditions and could signal a buying opportunity.
KAS is approaching oversold levels, which means a big rally could be imminent. Historical data shows that whenever KAS reaches an MFI reading similar to current levels, it typically climbs to a new all-time high (ATH).
If this pattern holds, KAS could reach $0.21 or higher in September. However, this prediction could be invalidated if the broader cryptocurrency market experiences another downturn, in which case KAS could drop to $0.14.
Binance Coin (BNB)
Binance Coin (BNB) is the fourth most valuable cryptocurrency and the first major altcoin to hit a new all-time high in June during the 2021 bull run. In September, BNB may hit new highs again, driven by the possible release of former Binance CEO Changpeng Zhao (CZ) from prison.
BNB is currently priced at $540.26, down 24.95% from its all-time high. On the weekly chart, BNB has formed a symmetrical triangle, which occurs when two trend lines (one sloping downward and the other sloping upward) converge at a certain point.
Symmetrical triangles can signal either bullish or bearish outcomes, so it’s crucial to consider other indicators. In the case of BNB, BeInCrypto focuses on the 50-day exponential moving average (EMA), which measures the direction of a trend over a specific period and can provide insight into where the coin might move next.
When the price of a cryptocurrency is above its 50-day exponential moving average (EMA), the trend is bullish; if it is below this level, the trend is bearish. Despite the recent decline, BNB is currently trading above the 50 EMA (blue), which may support the possibility of setting a new all-time high (ATH).
If buying pressure on BNB increases in September, it could once again outperform the other top 10 altcoins and potentially set new highs, perhaps around $750. However, this result could be threatened if the launch of CZ is delayed or if market interest in BNB wanes.
BRETT
BRETT, which is considered “PEPE’s best friend” but is built on a base layer 2 network, is one of the altcoins that could hit new highs in September. The meme coin is currently trading at $0.081, having hit an all-time high of $0.19 in June.
On the 4-hour chart, BRETT has formed an ascending triangle, which is a technical pattern that leans towards the bullish side. An ascending triangle is formed by the confluence of a horizontal trendline and an ascending trendline drawn along the swing lows and highs.
As prices fluctuate between these highs and lows, cryptocurrencies often encounter resistance, as was the case when BRETT fell from $0.10 to $0.081. However, this reversal could be temporary, suggesting that a significant rally could be imminent and could potentially push the coin towards $0.20.
However, this bullish prediction might be invalidated if BRETT does not see a significant surge in September. In such a case, the price might drop to $0.079.
Mantra (OM)
Mantra’s (OM) status as one of the top real world asset (RWA) altcoins is a key reason for its inclusion in this list. OM’s all-time high was $1.42, which occurred on July 22, but it has since fallen 37% from that height.
From a technical perspective, OM has formed a falling wedge pattern on the daily chart. The pattern is characterized by two descending trendlines connecting the asset's highs and lows. Typically, traders consider falling wedges to be bullish because the narrowing trendlines suggest that sellers may be losing momentum.
If buyers take advantage of this potential exhaustion from sellers, a significant uptick could occur. For OM, a breakout above the 38.2% Fibonacci level could signal the start of a run to new all-time highs. However, the 61.8% golden ratio ($1.15) could act as resistance to the price.
If OM breaks the $1.15 resistance, its price could surpass $1.42 in September and become one of the altcoins to hit a new all-time high (ATH). However, the bullish scenario could be invalidated if the coin breaks below the lowest point of the descending wedge again. If this happens, the price could drop to $0.62.
