Why the Crypto Market is Up Today? | Credit: Veronica Cestari
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Key Takeaways
The Crypto Market Cap (TOTALCAP) reached a new all-time high.
Small-cap altcoins have yet to make the most rapid portion of their increase.
Which altcoins have bullish charts and are set to dominate in August?
The crypto market is soaring, with TOTALCAP hitting an all-time high following a decisive breakout and strong momentum.
Bitcoin (BTC), Ethereum (ETH), and XRP have been leading the charge since April, but small-cap altcoins may be gearing up for their own explosive moves.
Let’s take a look at a few charts to spot the most promising altcoins for August.
Why is Crypto Going Up?
The crypto market cap started the current portion of its upward trend once it broke out from a descending resistance trend line and validated it as support (black circle) in April 2025.
Since the trend line had existed since the previous all-time high, the retest was a surefire sign that a new upward trend had begun.
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In July, the crypto market cap broke out from another, shorter-term resistance (dashed) and reached a new all-time high today.
The trend is strong, illustrated perfectly last week when TOTALCAP created a bullish engulfing candlestick (green icon).
Momentum indicators support the rally. The Relative Strength Index (RSI) is at 70 while the Moving Average Convergence/Divergence (MACD) is increasing positively.
If the count is accurate, small altcoins will begin the most rapid portion of their upward movement, sub-wave three of wave three.
The RSI and MACD support this extremely bullish prediction. The MACD has made a bullish cross, and the RSI is above 50 (black circles).
As a result, the most promising altcoins for August could all be ranked outside the top 10, since the chart predicts an at least 85% rally to $571 billion in the next few weeks.
List of Altcoins To Watch
The most promising altcoins for August created a bullish 1-2/1-2 wave formation and have started sub-wave three of wave three.
LINK and PENDLE broke out last week and have reached new yearly highs. There is not much resistance above the current price, so the rally is likely to continue in August.
AVAX and SUI have similar formations, but neither has broken out yet, so they could start playing catch-up soon.
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.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
