The cryptocurrency market is changing rapidly, and the latest wave of top-performing Altcoin could plummet in the next bull run.
While some Altcoin have struggled to maintain their bullish outlook, some have surged to new all-time highs (THEs). This shows that the outlook for some Altcoin is positive and has some potential. Here are three cryptocurrencies that could skyrocket by September 2024.
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TON
Toncoin (TON) fell sharply after the news that Telegram co-founder Pavel Durov was detained by French police at Le Bourget Airport. It dropped from $17.16 billion (on August 24, when Durov was arrested) to around $12.9 billion on August 27, 2024.
Several influential figures, including Elon Musk and Andrew Tait, called for Durov’s release on X. Widespread online support emerged; TON thus absorbed some of the energy. Its market cap rose slightly to $14.177 billion.
The chances of TON surging in September are higher than before, and its active ecosystem will benefit from the rise of its parent company.
Notably, TON price has started to show bullish momentum from the critical support level of $5. At press time, TON was attempting to break above the 200-day EMA but was struggling to do so at the time.
TON is showing an increase in bullish candles on its chart. Now, there could be further gains, pushing its price higher.
MKR
MKR has a share of 0.08% and is the 48th most popular cryptocurrency. Recently, its price and market cap have dropped by 1.56% in the past 24 hours and is currently worth $1.69 billion.
The Maker price on the daily timeframe shows a massive surge as it peaked at $4,075.00 in the first quarter of 2024. Since then, the MKR price has fallen into a descending channel and has continued this trend for the next two quarters of 2024.
This week, the price has found critical support and if the price turns around from this level, further gains towards the upper boundary of the wedge are possible.
GALA
GALA’s market cap recently grew 7% to $682 million, ranking 90th on CoinMarketCap’s market cap rankings.
GALA gained as much as 580% to a high of $0.086279 in early March 2024. However, it failed to sustain and plummeted, finding support at $0.0384 after the liquidity grab candle on April 13, 2024.
However, on June 7, 2024, a selling frenzy at the upper border of the wedge caused the support level to be broken.
The liquidity grab on August 5 caused GALA to drop to the previous support at $0.01253. But the price rose again and broke through the upper limit. As of now, there are no strong barriers threatening its rise to the previous highs.
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