These Altcoins May Reach New All-Time Highs in September 2024

Many altcoins have struggled to maintain optimism for most of this cycle, with only a handful reaching new all-time highs (ATH).

However, as the third quarter of the year enters its final month, some altcoins are starting to show signs that they may surpass their previous highs. This analysis highlights the four best altcoins with the potential to achieve new ATAs and the rationale behind this optimism.

Kaspa (KAS)

CASPA (KAS), a cryptocurrency that operates on a proof-of-work (PoW) consensus mechanism like Bitcoin (BTC), leads the list of altcoins to new all-time highs. Currently trading at $0.16, KAS is setting new ATHs from June until August 1st.

Looking forward to September, BeinCrypto expects KAS to maintain its upward momentum, potentially surpassing $0.20. On the daily chart, KAS has been oscillating between $0.15 and $0.17 for the past 22 days, making the $0.15 level an important support point for the cryptocurrency.

Additionally, the Money Flow Index (MFI) for KAS is currently at 24.38, indicating an oversold condition. MFI measures the flow of liquidity in and out of an asset and helps determine whether a cryptocurrency is overbought or oversold. A reading of 80.00 and above indicates an overbought condition, while a reading of 20.00 and below indicates an oversold condition, which may indicate a buying opportunity.

The KAS is approaching an oversold level, indicating that a significant rally may be on the horizon. Historical data shows that every time the KAS reaches a reading similar to the current level, the MFI usually rises to a new all-time high (ATH).

If this pattern holds, KAS could reach $0.21 or higher in September. However, this forecast could be negated if the broader crypto market experiences another downturn, in which case KAS could drop to $0.14.

Binance Coin (BNB)

Ranked as the 4th most valuable cryptocurrency, Binance Coin (BNB) was the first major altcoin from the 2021 bull market to reach a new all-time high in June. In September, BNB may rise further due to the possible release of former Binance CEO Changpeng Zhao (CZ).

Currently valued at $540.26, BNB is 24.95% below its all-time high. On the weekly chart, BNB has formed a symmetrical triangle, a pattern formed when two trend lines – one down and the other up – converge at a single point.

A symmetrical triangle can indicate a bullish or depressed effect, so it's important to consider other indicators. In the case of BNB, BeInCrypto focuses on the 50-day Exponential Moving Average (EMA), which measures the direction of the trend over a period of time and can provide insight into the coin's continued movement.

Read more: What are Altcoins? A guide to alternative cryptocurrencies

When the price of a kriptovalyutnogo trades above the 50-day exponential moving average (EMA), the trend is bullish; If it sells below, the trend is bearish. Despite BNB's recent decline, it is currently trading above the 50 EMA (blue), which could support a new all-time high (ATH) opportunity.

If the buying pressure for BNB increases in September, it could again outperform other top 10 altcoins and reach a new ATH, possibly around $750. However, this outcome could be at risk if CZ's release is delayed or market demand for BNB declines.

Brett

Considered as “PEPE's best friend” but built on the Base Layer-2 network, BRETT is one of the altcoins that could hit a new ATH in September. Meme Coin is currently trading at $0.081 and reached its June ATH of $0.19.

On the 4-hour chart, BRETT has formed an ascending triangle, a technical pattern that tends to be bullish. An ascending triangle is bullish if it is drawn with a horizontal trend line and swing lows and highs.

When prices fluctuate between these highs and lows, as Brett did when it dropped from $0.10 to $0.081, cryptocurrencies often face resistance. However, this reversal is likely to be temporary, suggesting that a significant rally may be coming, which could push the signal towards $0.20.

However, if BRETT does not experience a significant rally in September, this bearish forecast may be dismissed. In that case, the price may drop to $0.079.

Mantra (OM)

Position Mantra (OM) is one of the top Real World Assets (RWA) altcoins to make this list. OM's all-time high of $1.42 occurred on July 22, but has declined 37% since then.

From a technical perspective, OM has created a falling wedge pattern on the daily chart. This pattern is characterized by two downtrends connecting the asset's high and low. Typically, traders consider a falling wedge breakout because the narrow lines suggest that sellers may be losing momentum.

A significant rally could occur if buyers take advantage of this seller weakness. For OM, a breakout of the 38.2% Fibonacci retracement high could signal the start of a new all-time high. Still, the 61.8% golden ratio at $1.15 may cause resistance to the price.

Read More: How to Invest in Real-World Crypto Assets (RWA)?

If OM breaks the resistance level of $1.15, the price may exceed $1.42 in September, making it one of the altcoins to hit a new all-time high (ATH). However, if the token falls below the low point of the falling wedge again, the bullish scenario may be rejected. If that happens, the price could drop to $0.62.