FTM, RENDER and THETA prices aim for a bullish monthly close

The markets are heading towards the monthly close, which is expected to have a major impact on the upcoming quarterly close. Historically, there have been no major upside moves in August, and hence the markets seem to be following the historical pattern. Bitcoin price is stuck in a range, which is why market participants seem to be more skeptical about the next price move. However, altcoins like Fantom, Render, and Theta have broken the range and are intending to close the monthly trade with an upside move.

Fantom (FTM) Price Analysis

• Fantom prices were trading inside a descending parallel channel and the recent surge helped the token rise above the average bands.

• The price has broken above the supertrend levels, which could indicate a possible shift towards the uptrend.

• However, the DMI shows some possibility of a pullback as the +Di has deviated from a steep rise following a bullish crossover.

• Therefore, the FTM price could see a minor decline as only a rise to the upper resistance of the channel can confirm a trend reversal. Moreover, a break above the resistance could confirm a rise in the bearish claws and push the price near $0.6.

Render (RENDER) Price Analysis

• The RENDER price appears to have lost most of the year-to-date gains as it trades just inches away from its yearly low.

• Although the bulls have stopped the excessive price outflow, they are unable to trigger a strong upswing, which is why the possibility of a pullback is clouding the rally.

• However, the DMI suggests a possible reversal of the bearish trend as levels head towards a bullish crossover.

• Therefore, Render price is expected to maintain a healthy increase and reach 0.236 FIB at $5.88, which could remove the bearish influence on the rally.

Theta (THETA) Price Analysis

• THETA price is attempting to confirm a bullish breakout above the upper resistance of the channel.

• The DMI is about to trigger a bullish crossover, which could confirm a change from a bearish trend to a bullish trend.

• Therefore, THETA price is expected to maintain a healthy upswing and reach the crucial resistance at $1.57.

• If the bulls fail to reach these levels, the price may remain below the range for an extended period of time.