September’s Cryptocurrency Breakouts: 4 Coins on Track for New All-Time Highs

    August proved to be a challenging month for the cryptocurrency market, with both Bitcoin (BTC) and various altcoins witnessing substantial declines from their peak in July.

    Even amidst a bearish cryptocurrency market, an exciting ray of hope emerges with some altcoins showing bullish-looking formations. In anticipation of a potential breakout, Cryptory presents the top cryptos for September that hold the promise of reaching new all-time highs.

    OKB’s Price Set to Surge: Wave Count Analysis Signals New All-Time High

    Since June 2021, the OKB price has embarked on an impressive upward trajectory, resembling a captivating five-wave movement (depicted in white). Currently, it finds itself in the midst of wave four, as per the renowned Elliott Wave theory employed by technical analysts to gauge trend direction through studying recurring price patterns and investor psychology.

    Wave four has gracefully taken the form of a symmetrical triangle, a common occurrence during this wave. This compelling pattern lends further credibility to the anticipated wave count and price action, foretelling an eventual breakout from the triangle.

    Should OKB successfully break out, a thrilling new all-time high price of $72.10 awaits as the next resistance, calculated through the 1.61 Fib extension of wave four. This target aligns harmoniously with the projection of the triangle’s length to its breakout point (shown in white), offering a staggering 70% increase from the current price.

    OKB/USDT weekly chart. Source: TradingView

    While this bullish OKB price prediction ignites excitement, it is crucial to acknowledge that a breakdown from the triangle and the $42 support area would indicate a continuing bearish trend. In such a scenario, the price could retreat by 25%, seeking solace at the next support near $30.

    Ocean Protocol (OCEAN) Primed for a Breakout

    The OCEAN price embarked on a remarkable journey, reaching an all-time high of $1.94 in April 2021, only to face a subsequent decline that breached a descending resistance line. This persistent downward trend has spanned an awe-inspiring 829 days, marked by six valiant but unsuccessful attempts to break free from this formidable line (indicated by red icons).

    As each touch diminishes the strength of trend lines, the odds of eventually shattering this barrier grows ever higher, fueling anticipation for an imminent breakout.

    Adding to the intrigue, since early February, the price has gracefully traded within a descending parallel channel (depicted in white), a pattern commonly associated with corrective movements. Thus, the most probable future price scenario entails a thrilling breakout from this channel. This expectation harmoniously aligns with the repeated but valiant breakout attempts that gradually weaken the long-standing resistance.

    OCEAN/USDT weekly chart. Source: TradingView

    However, it is important to acknowledge the challenge of reclaiming the previous peak, as the current price lingers significantly below the all-time high, with a staggering difference exceeding 500%.

    Considering a more pragmatic outcome following a triumphant long-term breakout, the $1 resistance zone emerges as a realistic target. This enticing area rests 215% higher than the present price, offering a captivating opportunity for growth and resurgence.

    Bitcoin Cash (BCH) Breaks Free: Clearing the Path to New Heights

    In November 2022, the BCH Price set off on an exhilarating upward journey. After establishing a higher low in June 2023, the pace of its ascent intensified, culminating in a breathtaking yearly high of $329.

    This captivating upward movement unfolds like a mesmerizing five-wave increase, with wave four finding completion as the BCH price gracefully rebounded at the 0.618 Fib retracement support level on August 17 (indicated by the green icon). Not only did this bounce validate the Fib support, but it also confirmed the unwavering support line of a descending parallel channel.

    Should wave five materialize, an extraordinary breakout from the descending channel awaits, propelling the BCH price to soar toward the lofty heights of nearly $400. While this may not mark a new all-time high, it represents a staggering 90% surge when measured against the current price, promising an exhilarating journey of growth.

    BCH/USDT 3-day chart. Source: TradingView

    However, it is important to acknowledge that even amidst this bullish BCH price prediction, a close below the channel’s resistance line would render the breakout invalid. In such a scenario, the price could experience a noteworthy decline of 35%, seeking refuge at the nearest support level of $140.

    Toncoin (TON) Could Cruise in September

    Since December 2022, the TON price has valiantly battled beneath a descending resistance line. The fateful rejection in April 2023 (indicated by the red icon) triggered a dramatic plunge, culminating in a staggering low of $0.96 on June 11.

    However, hope emerged from the depths as the price steadily regained strength. Overcoming initial obstacles, TON triumphantly reclaimed the $1.35 horizontal area, firmly establishing it as a rock-solid support.

    Now, with unwavering determination, TON sets its sights on a daring breakout from the oppressive grip of the descending resistance line. Should this audacious endeavor succeed, the price is poised to ascend towards the next horizontal resistance at $2.60, promising a remarkable 50% surge measured from the current price.

    TON/USDT 3-day chart. Source: TradingView

    Nevertheless, it is crucial to acknowledge that the validity of this bullish TON price prediction hinges on the ability to shatter the barriers. In the event of a failed breakout, the most probable outcome would be a modest 22% decline, seeking solace once again at the $1.35 support level.

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