The cryptocurrency market is dynamic, the best-performing altcoins of the latest wave may tank in the next bullish wave. While some altcoins struggled to maintain a bullish outlook, some have already rocketed to new all-time highs (ATH). Meanwhile, all eyes were on Toncoin, Maker, and GALA.
Meanwhile, some altcoins reached important levels and are beginning to gesture bullishly. This analysis illustrates an optimistic outlook and potential outlook for some altcoins. Let’s explore three cryptos that may skyrocket in September 2024 based on key technical information.
Altcoins To Rocket Starting With Toncoin (TON)?
After the news broke that Telegram cofounder Pavel Durov was detained at the Le Bourget Airport by French police, Toncoin (TON) fell steeply. Toncoin market cap deteriorated after the arrest, falling from $17.16 Billion (Aug 24th, when Durov was arrested) to around $12.9 Billion by August 27th 2024.
Several influential personalities, such as Elon Musk and Andrew Tate called for Durov’s release on X. #FREEDUROV and #freepavel are among the most trending hashtags on X right now. Widespread online support continues to pour in; TON absorbed some of that energy. TON market cap has improved slightly to $14.177 Billion.
Chances of TON skyrocketing in September are higher than earlier, and its vibrant ecosystem will benefit from the mothership’s surge.
Notably, the TON price has started to display a bullish presence from a critical support zone of $5. At press time, the TON trying to breach the 200-day EMA but was struggling to breach at that point.
The pavel has been released today and enthusiasm was already high which showed increased bullish candles on TON chart, too. Now, the enthusiasm could advance more, which can take its price higher. .
Maker (MKR)
MKRÂ has a dominance of 0.08% and is the 48th most popular crypto. Recently, it witnessed a decline in price and market cap by 2.90% in the last 24 hours and is now valued at $1.69 Billion.
Maker price over daily timeframe showed that the peak of $4075.00 was built in the first quarter of 2024, which displayed humongous gains. Thereon, the MKR price had fallen into a declining channel and has followed it for nearly the next two quarters of 2024.
This week, the price has landed critical support, and if it resurges from that level. Then it could propel higher towards the upper border of the wedge.
GALA (GALA)
GALA’s market capitalization increased by 7% to $682 Million yesterday and ranked 90th on CoinMarketCap in terms of market cap.
Gaining as high as 580% early March 2024, GALA reached a high of $0.086279. However, it failed to sustain, and plummeted, finding support at $0.0384 following a liquidity grab candle on April 13, 2024.
However, on June 7th, 2024, the support was breached following a selling spree from the upper border of the wedge.
The August 5 liquidity grab plunged GALA to its previous support level of $0.01253. But the price managed to rise again and breached the upper border. As of now, no strong obstacles are threatening to prevent its ascent to previous highs.
