This week in crypto saw significant gains for OKB, Mantle, and Aerodrome Finance, driven by market optimism and technical support levels, while tokens like SPX, Pudgy Penguins, and Conflux experienced notable declines amid market volatility. Bitcoin fluctuated around $117k-$123k, and altcoins showed mixed performance, with mid-cap tokens leading the gains and memecoins losing steam. Overall, a volatile week with sharp pumps and dips, emphasizing the importance of cautious trading.
One year after the FTX collapse, Bitcoin has more than doubled in price, but other coins like Solana, OKB, and Chainlink have seen even bigger gains. Solana is up 660% since the crash bottom, benefiting from positive market sentiment and subsiding fears of a dump by FTX. OKB, the token of OKX crypto exchange, has gained 275% as its top rival FTX went bust. Chainlink, despite falling 40% after the collapse, has recovered due to lower exposure to FTX and positive developments, resulting in over 180% profits for investors.
Despite a bearish cryptocurrency market in August, there are some altcoins that show potential for hitting new all-time highs in September. OKB has a bullish wave count and a symmetrical triangle formation, with a potential breakout leading to a new all-time high at $72.10. Ocean Protocol has been trading within a descending parallel channel and may break out, with a realistic target of $1. Bitcoin Cash has cleared a corrective pattern and could reach a high of nearly $400. Toncoin is attempting to break out from a descending resistance line, with a potential target of $2.60. However, if these altcoins fail to break out, there is a possibility of price decreases.
