
Jakarta, Pintu News ā The crypto market started August positively, with many altcoins hitting new monthly highs.
After a few weeks of steady gains, attention is now turning to which tokens have the potential to grow. Along with that, a well-known crypto analyst, AltCryptoTalk, shared five tokens that he believes could steal the show this week: NEAR, OP, ENA, ZK, and PENDLE, via a tweet.
NEAR Protocol was back in the spotlight this week, briefly trading around $2.6 after experiencing an 8% gain in the past week.
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Much attention is on the community vote aimed at reducing NEAR inflation from 5% to 2.5%, which could mean fewer new coins in circulation.
Looking at the weekly chart, AltCryptoTalk crypto analysts suggest that the NEAR token needs to break the $3.65 level in order to continue its bullish trend towards $8.
Optimism showed renewed strength after bouncing off the $0.60 support level and briefly traded around $0.74, despite dropping 5.4% in the last 24 hours (12/8).
If it manages to break $0.833, analysts expect a strong push that takes the price towards $1.
However, with the opening of 31.34 million OP tokens scheduled for the end of August, short-term volatility is possible, so traders are expected to move quickly.
Ethen surged over 30.87% this week after ENAās stablecoin, USDe, experienced a surge and became the third largest dollar stablecoin in the world.
ENAās daily trading range managed to break key resistance, and analysts state that if the price passes $0.85, it could quickly move towards $1 or more if the current momentum continues.
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ZkSync was trading at around $0.055, registering a decline of 4.7% in the last 24 hours (12/8).
AltCryptoTalk believes that a move past $0.065 could trigger short-term gains, while a break above $0.088 would signal a stronger medium-term rally.
Meanwhile, a massive token opening is scheduled for August 17, which will bring 173 million new tokens into circulation.
Pendle is in the spotlight after the price crossed $5.3 after surging more than 37% in a week.
With technical analysis showing a continued uptrend and large trading volumes, AltCryptoTalk predicts PENDLE could reach $7 if market sentiment remains positive.
Conversely, if the price drops below $5.20, it will most likely open up the opportunity for a pullback.
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