The final days of July were pretty momentous for Bitcoin traders who pushed their favorite cryptocurrency token over the $42,000 pricing level. Whether BTC/USD is able to sustain this rally remains to be seen as the first trading week of August starts, but this is not the only token expected to make waves this month.
Uniswap is a digital currency that’s designed to be both fast and cheap. And now, Uniswap is launching a new feature that will allow users to deposit and withdraw digital assets via a simple API. In essence, this ERC20 token runs on the Ethereum network with a nice performance delivered by means of DeFi side chains. Some analysts believe that UNI could trade as high as $40 in August.
Chainlink is another token that has been plagued by bearish sentiment, but many active traders think that this downturn is coming to an end. The psychological trading level for LINK for August would be $30, although it could push even further towards $35.
We also have Solana (SOL) trending above what many traders believe was a support level around $30. We also have Solana (SOL) trending above what many traders believe was a support level around $30. SOL has been on a tremendous upward swing since early June, and the future will tell if this can hold. While most analysts say that the price could top out above $35 by the end of the year, if there is strong adoption by dApps that are already available, the future could be brighter for SOL/BTC.
Finally, Augur is currently testing for a bullish breakout to the upside, which would lead to another $30 rally towards $40, a resistance level that is currently being tested. Augur is pretty much an outlier in terms of real-world circulation, which considerably lags behind the rest of the tokens listed herein. The financial markets are in a precarious position, especially with so many factors at play, and this is what has been attracting traders to altcoins such as Augur; this means that active day traders are locking into such tokens out of pure speculation.