The cryptocurrency market is constantly evolving and offering new opportunities for investors. However, with so many options available, it is difficult to decide which ones to worth buy.
That’s why we have compiled a list of the top 5 cryptos to buy in August, based on their potential, performance and popularity. These are:
Table of Contents
TOMO Crypto Price Analysis
TomoChain is a scalable and low-cost blockchain platform that supports smart contracts, decentralized applications and cross-chain interoperability. TOMO is the native token of the network, which is used for governance, staking and paying fees.
TOMO has been growing steadily in the past month, surging well over 40% mask. TOMO is currently trading at $1.49 with market cap of $150mn.
On the Daily timeframe level, the price action of $TOMO Formed out Ascending Triangle pattern level where the price action bounced back from its Support Trendline level and getting rejected from its Horizontal Resistance level.
We can expect the price action will reach its Horizontal Support level where there we can see the bounce-back level from there.
MASK Crypto Price Analysis
Mask Network is a protocol that allows users to access Web 3.0 applications on social media platforms, such as Twitter and Facebook. MASK is the utility token of the network, which is used for governance, incentives and rewards.
Mask coin is currently trading at $3.44 with a market cap of $282.5mn.
On the Daily timeframe level, the price action of $MASK Formed out Descending Triangle pattern as well as a Bullish Harmonic Shark pattern level where the price action is consolidating in a compression level on the Horizontal Support level.
We can expect the bounce back level after the breakout of the MSB level. However, the price should close above the Horizontal Support level.
STMX Crypto Price Analysis
StormX is a gamified marketplace that allows users to earn crypto rewards by shopping online, completing tasks and playing games. STMX is the reward token of the platform, which can be redeemed for various benefits, such as cashback, discounts and loyalty points.
STMX has been a winner in performance with gains north of 60% in 1 month. STMX is currently trading at $0.0067 with market cap of $68mn.
On a daily timeframe level, the price action of $STMX Formed out Symmetrical Triangle pattern level where the price action is respecting on its Support Trendline and Horizontal Support level.
We can expect the bounce back level from there.
LTC Crypto Price Analysis
Litecoin is one of the oldest and most established cryptocurrencies, which aims to provide fast, cheap and secure transactions for everyday use. LTC is the native currency of the Litecoin network, which is based on a modified version of Bitcoin’s code.
LTC is trading at $86.26 with a market cap of $6.3bn.
On the Weekly timeframe level, the price action of $LTC Successfully broke out the MSB level and made up the move of 57% level.
However, it converted into the Deviated point level getting rejected from the Horizontal Resistance level.
DOGECOIN Crypto Price Analysis
Dogecoin is a meme-inspired cryptocurrency that was created as a joke in 2013 but has since gained a massive fan base and mainstream recognition. Dogecoin network is based on a fork of Litecoin’s code.
DOGE is trading at $0.067 with a market cap of $10.5bn. DOGE has also surged by 8% in 1 month.
On the Daily timeframe level, the price action of $DOGE respecting out Support Trendline level marked out the Horizontal Support level.
We can expect the bounce back level from there.
Conclusion
All 3 cryptos are expected to show a bounce that’s why we predict good returns from them.
However, you should always trade with a proper risk-reward ratio and proper risk management.
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