July was BNB and XRP’s moment. Now, IP, PENGU, and TRX step up — can they seize the spotlight next? | Credit: Veronica Cestari
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Key Takeaways
IP is primed for a run to $8 if the ascending channel holds; downside risk exists at $5.47 and $3.91.
PENGU rebounds from a short-lived dip; if momentum holds, it could reclaim and surpass July highs.
TRX shows classic continuation signals; failure to hold $0.32 support may shift the outlook bearish.
July is on the verge of finishing, and as August arrives, the market will hope that some altcoins reach new all-time highs.
In July, alts like BNB, XRP, and SPX6900 (SPX) hit new highs despite the Federal Open Market Committee opting to hold against an interest rate cut.
With August almost here, CCN reveals three select altcoins that could hit new all-time highs again. Here is why.
Story (IP)
IP, the native token of the Story Protocol, is emerging as one of the altcoins that could hit all-time highs in August. Within the past 30 days, IP’s price has increased by.
Currently trading at $6.15, IP sits just 15% below its all-time high from February.
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On the 4-hour chart, IP is trading within an ascending channel. The Moving Average Convergence Divergence (MACD), which has formed a bullish crossover, also supports this move.
If the current trend holds, IP could rally toward $8, setting a new all-time high as early as August.
However, if sentiment across the altcoin market sours, a breakdown below the lower trendline could expose IP to short-term downside targets at $5.47 or even $3.91.
Pudgy Penguins (PENGU)
PENGU emerged as one of the top 50 altcoins, outperforming the market in July after soaring more than 200% earlier.
The price hit a local high of $0.046 before retracing to $0.035, but the pullback appears short-lived. PENGU bounced to $0.038 at press time, and the daily chart shows a key bullish formation: a golden cross.
The setup occurred as the 20-day Exponential Moving Average (EMA) (blue) crossed above the 50-day EMA (yellow).
If the trend holds, PENGU could rally toward $0.054 soon. But the chart suggests the rally may not stop there.
If momentum accelerates, a breakout toward $0.086—and a potential new all-time high—could be on the table. However, an increase in selling pressure could invalidate the thesis.
Tron (TRX)
TRX, the native coin of the Tron blockchain, is shaping up as another altcoin that could hit a new all-time high in August. At press time, TRX trades at $0.33, just 26% below its previous all-time high.
On the 4-hour chart, TRX has formed a bull flag, a continuation pattern often preceding another leg up. The token holds above key support at $0.32, suggesting bulls still have control.
Adding to the setup, the Bollinger Bands (BB) have expanded, signaling increased volatility. With the bands widening, even moderate buying pressure could spark a breakout.
If the flag resolves to the upside, TRX could climb to $0.39 in the short term. A push past that level could act as a launchpad toward the $0.50 zone, potentially setting a new all-time high.
However, if the price breaks below the lower trendline of the flag, this bullish thesis may be invalidated. In that scenario, TRX risks a drop toward $0.25
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
