As Bitcoin's price struggles to find direction, altcoins will likely depend on external signals. These signals could potentially change the current direction of cryptocurrency tokens and help trigger a breakout rally.
BeInCrypto analyzed three altcoins investors should pay attention to next week.
1INCH Network (1INCH)
1INCH is gaining attention while waiting for a mysterious announcement scheduled for August 19th. The project's official post has hinted at DeFi integration, sparking speculation across the market.
The altcoin has not shown significant movement in recent sessions and is consolidating without a strong direction. However, the upcoming announcement could serve as a major catalyst, potentially pushing 1INCH to $0.273. Securing this level as support could allow the token to target $0.311, which would strengthen the bullish outlook and improve market confidence.
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If investors do not react to the news, 1INCH risks losing momentum and declining. The price may test $0.241 as a support zone, and if it breaks down, it could drop to $0.222. Such a decline would invalidate the bullish scenario and signal caution among traders.
OKB (OKB)
OKB has recorded significant gains, triggering strong bullish sentiment after its supply halved over the past week. The sudden reduction in circulating tokens created scarcity, attracting investor attention.
The OKB price surged 28% in the past 24 hours, reaching $119 at the time of reporting. If this upward momentum continues, the altcoin could move towards $143 or higher. This movement indicates a restoration of investor confidence.
If momentum fades and traders perceive the rally as overheated, profit-taking could follow. Increasing selling pressure could push OKB below $105, with the altcoin potentially dropping further to $77. This scenario would invalidate the bullish thesis.
Cyber (CYBER)
CYBER's price showed notable performance this week after being listed on Upbit Korea on August 12th. This development triggered strong buying activity, causing the token to rise 51% over the past seven days.
The upward momentum has not subsided, with CYBER recording a 16.45% increase in the past 24 hours. Trading at $2.79 at the time of reporting, the altcoin shows potential to break through $2.99. Continued buying pressure could extend the rally to $3.39, which would reinforce investor optimism and attract additional capital inflow.
If momentum is not maintained, the recent gains could reverse, with CYBER at risk of falling below the $2.38 support. Intensifying selling pressure could cause the token to retreat to $1.85. Such a decline would weaken the bullish logic and signal caution to traders expecting continued short-term gains.
