5 Potential Altcoins You Should Watch in September 2024

September is expected to be the beginning of a turnaround for the crypto market, which could be a boon for Altcoins.

BeInCrypto has compiled a list of 5 potential Altcoins you should watch this month.

#1. Maker (MKR)

MakerDAO is getting a new look and a new Token . On September 18, the new stablecoin USDS and Governance Token SKY will be launched, marking a major change for the network. This is expected to trigger a price increase for the current Token , MKR. Since MKR can be redeemed for 28,000 SKY Token , investors will likely accumulate MKR. They will do this to book profits and eventually sell after SKY is launched.

As a result, MKR price is likely to rise from the $1,693 support to test the $2,188 resistance. The altcoin has been consolidating within this range throughout August. A potential move could result in a rise to $2,556.

Also Read: Controversy erupts over MakerDAO renaming to Sky, introducing new Token

#2. Polygon (Matic)

Like Maker, Polygon will also be switching its native Token from Matic to POL. The long-awaited move will replace the current native Cryptoasset with POL as the primary Token for Gas Price and Staking. Following the switch on September 4, the price of Matic could begin to recover after its recent 26% drop. This could help the altcoin reclaim the $0.50 support level, marking a two-month high.

This would allow the Matic price to rise above $0.60, pushing it towards $0.75. Breaking above this level would be difficult, as the wave of profits could prompt investors to sell to take profits.

#3. EOS (EOS)

The EOS network will begin preparing for its next major upgrade, Spring 1.0. This Hard Fork is important for the network as it will introduce a new consensus method for EOS, the Savanna algorithm. The Spring 1.0 stable release is scheduled for September 4, with the Hard Fork taking place on September 25. The anticipation of this upgrade could boost the price of EOS, which recently saw an 11% drop in 3 days.

EOS price has nearly erased its recovery since its 23% drop in July. For the altcoin to regain these losses, it needs to convert $0.557 into support first, which it has failed to do recently. A positive development could fuel this rally, taking EOS above $0.605 to start a rally.

#4. THORChain (RUNE)

RUNE price recently reclaimed bear market support, the 23.6% Fibonacci Retracement line. Coincidentally at $3.94, a bounce from this level could push the altcoin above its multi-month resistance at $4.93. The THORChain network is preparing for a Hard Fork on September 4. While this upgrade does not bring any major changes, it could be a potential boost for RUNE as the market recovers.

If RUNE benefits from this, a rise to $6.52 is possible. This would happen once $4.93 turns into support.

#5. Flow (FLOW)

Following in the footsteps of EOS, the network is about to see its biggest upgrade since its inception. The Crescendo network upgrade, scheduled for September 4th on mainnet, will connect Flow to the entire web3 ecosystem. This could be the opportunity Flow needs to break out of its two and a half month consolidation phase. Since mid-June, FLOW has been stuck below $0.70, and it needs a big push to break through this barrier and move above $0.80.

However, if this breakout fails, the Cryptoasset could drop to $0.50, the low of the current accumulation phase. Even if FLOW does not fall below this support level, it could continue to move sideways, invalidating the bullish hypothesis.

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