Flare & Aleo: These Altcoins Are Primed to Explode This Summer

Forget the usual suspects—this summer's crypto moonshots wear new faces. Flare and Aleo just flashed bullish signals that could leave Bitcoin maximalists sweating into their laser-eyed avatars.

Why these two? Flare's bridging Ethereum-style smart contracts to non-smart chain assets—finally making good on that 'internet of blockchains' hype. Meanwhile, Aleo's zero-knowledge proofs let traders hide their bags better than a Wall Street exec's offshore accounts.

The kicker? Both projects survived crypto winter without resorting to vaporware rebrands or 'partnership' press releases. Actual code shipped. Actual testnets live. In this market, that counts as a miracle.

Of course, nothing's guaranteed—remember when hedge funds swore Terra was 'the new monetary system'? But for degenerates seeking asymmetric bets, these charts suggest Flare and Aleo might just print more green than a central banker's balance sheet.

Flare

Flare (FLR), an interoperability-focused blockchain, has emerged as a top altcoin candidate amid the early stages of the current altcoin season. The token has rallied 52% over the past week, reaching a six-month high of $0.0266 at the time of writing.

Why is Flare gaining traction?

One key catalyst underpinning Flare’s long-term value proposition is its close integration with XRP and other non-smart contract assets through the FAssets system. This framework allows users to mint decentralized representations of assets like XRP, BTC, and Doge directly on Flare, enabling them to participate in DeFi applications.

According to Flare Labs, XRP is expected to be one of the first and most actively utilized FAssets, forming the backbone of a broader “XRPFi” ecosystem.

Flare team has also announced the FAssets Incentive Program earlier in July, confirming the launch of its 2.2 billion FLR incentive initiative to drive DeFi adoption on the network.

FLR confirms bullish pattern

From a technical standpoint, FLR recently broke out of a multi-week symmetrical triangle, a pattern typically associated with consolidation, signaling a shift in market structure and renewed upside momentum.

The 50-day simple moving average appears set to cross above the 200-day moving average, forming a golden cross, a technical pattern that often indicates the beginning of a sustained upward trend.

On the daily chart, FLR has formed higher highs and higher lows. This is typical during the early stages of a bullish trend, when buyers begin to take control.

If FLR holds support above the $0.030 level, the next upside target lies in the $0.038–$0.045 range, which previously acted as a major distribution zone in Q1 2024.

Aleo

Aleo (ALEO), a privacy-focused Layer-1 blockchain, has rallied to a 5-month high of $0.39 earlier today before settling at $0.30 when writing. It remains up 47% over the past 30 days with a market cap of $133 million.

What’s driving Aleo’s gains?

The token will be in the spotlight this summer as interest heats up around zero-knowledge tech, while Aleo is making moves that could directly boost its value. The team recently rolled out upgrades to its Core stack, snarkOS and snarkVM, both of which are crucial for running private smart contracts efficiently. 

These updates are expected to improve performance, scalability, and security, making Aleo more attractive for developers building privacy-focused apps.

In a major step for its ecosystem, Aleo has also partnered with Bitmain to develop ASIC miners manufactured by the Taiwan Semiconductor Manufacturing Company (TSMC). These chips are custom-built to handle zero-knowledge proof computations which the backbone of Aleo’s privacy infrastructure. 

If this hardware rollout gains traction, it could drive demand for ALEO tokens, both for mining rewards and network participation, potentially putting upward pressure on the token’s price.

ALEO price prediction

ALEO has staged a strong rebound after forming a clear double-bottom pattern NEAR the $0.18 level, typically a bullish reversal signal indicating a shift in momentum from sellers to buyers.

In addition, the token has broken out above the neckline of a rounded bottom formation that has been developing since mid-April.

A breakout from a rounded bottom often signals the end of a prolonged downtrend and the start of a new bullish phase. In Aleo’s case, the breakout above the neckline, shaped since mid-April, confirms growing bullish momentum and opens the door for a MOVE to higher levels.

When writing, price action remains firmly above both the 20-day and 50-day exponential moving averages, a sign of continued short- to mid-term strength.

Given this setup, the next potential target for ALEO lies at $0.57, based on the extended Fibonacci retracement level. This represents a 90% upside from the current price and WOULD mark a key test of resistance if bullish momentum continues to build.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.