The signals in the crypto market diverged in the last week of July! HNT Halving, OP and SUI unlock are imminent, will the three major potential alts welcome the August market?

Entering the last week of July, the crypto market is sending complex signals, but some altcoins are showing growth potential in August driven by key events. BeInCrypto analyzes three event-driven tokens: Helium (HNT), Optimism (OP), and Sui (SUI): The upcoming HNT Halving may trigger supply tightening, OP surged 19% before unlocking, and SUI continues to rise despite facing a massive unlocking. This article provides key points and risk warnings for investors focusing on event-driven crypto opportunities.

Helium (HNT): The cup and handle pattern is forming, Halving may push the price to $4.82

The current HNT price is $3.64, forming a bullish cup-and-handle pattern, indicating a potential upward trend. This pattern is usually accompanied by a price recovery, and last week's slight pullback has constituted technical confirmation. If the market environment remains favorable, HNT is expected to rise further.

As the Helium Halving event approaches, the annual supply of HNT will be reduced by 50%, from 15 million coins to 7.5 million coins. This expected supply tightening may create significant upward pressure on the Token price. Therefore, HNT is expected to break through the $4.18 resistance level and test the $4.82 target level, providing opportunities for investors following the altcoin Halving market.

However, if a large-scale sell-off occurs before the Halving, it may trigger a price correction. In this scenario, HNT could drop to $3.13 or even lower, thereby negating the current bullish outlook.

Optimism (OP): rose 19.3% in 24 hours, testing the psychological barrier of $1.00

OP has performed remarkably in recent times, surging 19.3% in the past 24 hours, currently quoted at $0.86. This rise is driven by positive market sentiment ahead of the August Token unlock.

At the beginning of August, 31.34 million OP tokens worth $25.6 million will be unlocked and enter circulation. This release may change the supply-demand balance, thereby affecting the OP price trend. Market expectations are high, and this altcoin is expected to break through $0.90, challenge the resistance level at $0.98, and attempt to reach the key psychological level of $1.00 in the short term, attracting traders seeking opportunities in the Layer 2 space.

However, if the unlocking triggers a bearish reaction, the newly circulating tokens may cause the OP price to fall. If it loses the support level of $0.80, the price may further probe $0.69, invalidating the current bullish expectations.

Sui (SUI): Three-day rise of 13.7% breaks $4.24, can the $186 million unlock resolve it?

The price of SUI has risen by 13.7% in the past three days, currently reported at $4.24. This recent upward trend occurs ahead of a significant event this week - the Token unlock. A total of 44 million SUI worth over 186 million USD is about to be released, which may reshape its price dynamics.

The Parabolic SAR indicator is located below the K-line, indicating that the current upward trend of SUI is likely to continue. If the momentum is maintained, this Token may break through the $4.35 resistance level and reach $4.79 in the coming days, providing potential opportunities for investors focusing on the performance of new public chain Tokens.

However, if investors choose to sell, the Token may face a significant correction. Falling below the $4.12 support level could trigger a downtrend, with a downward target looking towards $3.93, or even $3.69, which would overturn the current bullish logic.

Conclusion: Although there are divergences in the crypto market at the end of July, events such as HNT Halving, OP and SUI unlocks provide volatility opportunities for specific alts. Investors need to closely follow the supply and demand changes and technical pattern coordination when planning for the August market, and be wary of the "buy the expectation, sell the fact" risk. Whether HNT can break through $4.82 after the Halving, whether OP can push towards $1.00 after the unlock, and whether SUI can resolve the massive selling pressure to maintain its rise will be key indicators for testing market strength.