3 Altcoins You Should Pay Attention to in August 2024

The crypto market has experienced a noticeable recovery over the past month. This recovery has led many altcoins to gain significant value and secure positions in their respective sectors. In this article, we will explore three hidden gem altcoins that have the potential to continue their upward trajectory in August 2024. 

1. Undead Games (UDS)

Undead Games (UDS) is a prominent player in the gaming sector. It has seen remarkable growth recently, thanks to its partnerships with well-known companies like Warner Bros., Immutable X, and Machinations. These collaborations have enhanced UDS’s credibility and visibility in the market. 

• Performance Overview: UDS surged by over 222% in the past month, reaching a peak price of $2.43. However, it is currently trading at around $1.70, down by 24% from its all-time high due to profit-taking and market cooling. 

• Key Level: To continue its upward trend, UDS needs to establish $1.88 as a support level. If successful, this could pave the way for a new all-time high. 

• Future Potential: UDS’s long-term outlook remains positive, provided it can maintain its support levels and capitalize on its industry partnerships. 

2. zKML (ZKML)

zKML is an altcoin within the Artificial Intelligence (AI) sector. It has outperformed major altcoins such as NEAR Protocol, Render (RENDER), and the newly formed Artificial Superintelligence Alliance (FET). zKML has demonstrated strong market performance and investor interest. 

• Performance Overview: The token’s value increased by 394% in the last month, currently priced at $0.2959. It has established a support level at $0.2605 and shows potential for further growth. 

• Key Level: zKML could potentially rise to $0.3467 if it maintains its current momentum. However, losing the support at $0.2605 could invalidate the bullish outlook, potentially dropping the price to $0.1759. 

• Future Potential: As long as zKML attracts significant inflows, it may continue its upward trend into August, driven by the growing interest in AI technologies. 

3. Lumerin (LMR)

Lumerin (LMR) is a Real-World Asset (RWA) token that has gained attention due to its impressive growth. Although not as obscure as the other two tokens, LMR remains relatively under the radar. 

• Performance Overview: LMR experienced a 142% increase over July, nearing the resistance level at $0.026. The token’s growth is notable, but it has faced challenges in solidifying its position. 

• Key Level: The critical level for LMR is $0.026, which, if flipped into support, could lead to a rally towards $0.040. However, failure to maintain support at $0.020 could result in a decline to $0.010 or lower. 

• Future Potential: The outlook for LMR depends on its ability to navigate market fluctuations and establish strong support levels. A positive market sentiment could drive LMR to new heights. 

Summary Table 

These three altcoins have shown significant promise and are poised for potential gains in August 2024. However, investors should remain cautious and consider market conditions, as the crypto market is known for its volatility. Proper research and risk management are crucial when investing in these emerging assets.