As September begins and the final quarter of the year approaches, the cryptocurrency market is showing signs of mild to strong bearishness. Despite this, certain network updates and project developments could help a few altcoins buck the broader trend. BeInCrypto has identified three projects worth monitoring closely in the coming days: Conflux (CFX), Ondo (ONDO), and Immutable (IMX). Each faces a key turning point that may shape its price movement in early September.
Conflux (CFX): Anticipation Builds Ahead of Hardfork Upgrade
Conflux is preparing for the rollout of its 3.0.1 hardfork, which will activate CIP 156, an upgrade designed to improve the network’s overall performance. Such upgrades often boost investor sentiment and can act as a catalyst for price rallies.
At present, CFX is holding near $0.178 support, with immediate resistance at $0.196. A successful rebound could allow the token to break above the $0.200 level, which would signal renewed confidence in the project. Historically, network improvements have encouraged short-term bullish activity, and traders are watching to see if the same pattern emerges here.
However, if the upgrade does not generate enough buying momentum, CFX risks staying under $0.196. In that case, the token could slide under its current support and target $0.170 or lower, which would dampen recovery efforts and extend the period of weakness.
Ondo (ONDO): Eyes on a Major Announcement
Ondo’s token has recently slipped below $0.873 support, now trading at $0.872. The chart has formed a Death Cross on its exponential moving averages, a technical signal that warns of potential further downside.
Despite this bearish setup, optimism surrounds Ondo thanks to a major announcement scheduled for 3 September. The team has hinted at an expansion, stating that “Markets Are Going Global,” which suggests an effort to broaden its reach and attract new adoption.
If the announcement meets expectations, ONDO could rebound strongly. A recovery above $0.944 may shift this level into support and create room for a climb toward $1.076. This would help the project recover recent losses and restore buyer interest.
On the other hand, if the market reacts cautiously and the Death Cross trend strengthens, ONDO may struggle to attract buyers. In such a scenario, the token could fall back toward $0.800, extending losses further.
Immutable (IMX): Supply Unlock Creates Uncertainty
Immutable’s native token has been on a downward trend for several weeks, now testing the $0.498 support level. This zone is considered critical, as a breakdown could trigger a sharper decline. The Ichimoku Cloud, however, suggests the potential for bullish momentum if the support holds, hinting at the possibility of a recovery phase.
A major factor to watch is the imminent unlock of 24.52 million IMX tokens, worth more than $12 million. Such supply events often introduce selling pressure as tokens enter circulation, and if demand is insufficient, IMX could slip to $0.470 or even $0.432.
If, however, sentiment improves and buying demand absorbs the new supply, IMX may stabilise above $0.498 and push higher. A move past $0.548 would help establish a stronger base, easing bearish concerns and signalling that recovery may be underway.
The Bigger Picture for September
The early weeks of September are set to test the resilience of several altcoins as the market remains cautious. For Conflux, the focus is on whether its network upgrade delivers the performance and sentiment boost traders expect. For Ondo, anticipation revolves around a high-profile announcement that could expand its global presence. Meanwhile, Immutable must navigate the challenge of a large token unlock, which could either weigh heavily on price or be absorbed by fresh demand.
While the broader trend across crypto remains uncertain, these three tokens each face key events that could shape their trajectory in the coming week. For investors and traders, staying alert to these developments will be crucial in navigating the shifting market landscape.
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