As September begins, crypto investors are once again weighing market direction. Broader sentiment leans mildly bearish, but some altcoins could break the trend thanks to network upgrades, token events, and major announcements. BeInCrypto has identified three such projects Conflux (CFX), Ondo (ONDO) and Immutable (IMX), that may capture market attention in the first week of the month.
Conflux (CFX): Preparing for a Hard Fork Upgrade
Conflux is gearing up for its Conflux 3.0.1 hard fork, which will activate CIP 156. This upgrade aims to enhance network performance, and historically such developments tend to spark optimism among investors.
At present, CFX is trading close to the $0.178 support level. If positive sentiment builds around the upgrade, the token could push through resistance at $0.196. A further move above $0.200 would confirm renewed investor confidence, signalling a potential shift in trend.
However, risks remain. Should the upgrade fail to generate strong momentum, CFX could stall under $0.196. A breakdown below $0.178 would expose the token to losses toward $0.170 or even lower. In that case, recovery efforts may become limited in the short term.
Ondo (ONDO): Eyes on the September 3 Announcement
Ondo is trading at $0.872, just below its key support of $0.873. Technical signals are flashing caution, with a Death Cross forming on the exponential moving averages. This indicates continued downside pressure in the near term.
Despite this, Ondo has an important catalyst ahead. The project has scheduled a major announcement for September 3, hinting at global expansion with the teaser “Markets Are Going Global.” Investors are watching closely to see if this development delivers.
If the update meets expectations, ONDO could reclaim $0.873 as support and test higher levels. A break above $0.944 could open the path toward $1.076, helping the altcoin recover lost ground. On the other hand, if bearish momentum intensifies and buyers remain hesitant, ONDO could slide toward $0.800, deepening investor losses.
Immutable (IMX): Balancing Token Unlocks with Recovery Potential
Immutable’s IMX token has faced steady declines, now trading at $0.498. This level is acting as a critical support zone. Technical signals from the Ichimoku Cloud suggest that bullish momentum may be forming, offering a glimmer of recovery for the altcoin.
However, investors must watch a major near-term risk: the upcoming unlock of 24.52 million IMX tokens worth over $12 million. The sudden increase in supply could trigger selling pressure, weighing on the price if demand fails to keep pace.
If selling dominates, IMX may fall to $0.470 or even $0.432. But should bullish sentiment take hold, stabilisation above $0.498 could push the token past $0.548. Breaking this level would invalidate some of the bearish momentum and create space for recovery in September.
Market Outlook: Bearish Pressure Versus Key Catalysts
The first week of September 2025 brings both risks and opportunities for altcoins. Conflux, Ondo and Immutable each have critical events and technical levels to watch.
- Conflux (CFX) relies on its hard fork upgrade to ignite investor confidence.
- Ondo (ONDO) is banking on a global expansion announcement to reverse bearish trends.
- Immutable (IMX) must navigate token unlock pressure while attempting to hold key support.
The wider market mood remains cautious, but these altcoins could provide volatility and trading opportunities for investors who track developments closely.
