In an unstable crypto market, choosing assets for investment becomes increasingly challenging. To simplify this process, it is recommended to focus on five altcoins that have growth potential this month.

Flow (FLOW)
Flow is gearing up for the Crescendo update, which will be presented on August 14. The main goal of this update is to improve the scalability and decentralization of the network. This event could lead to increased demand and optimism around FLOW. Currently, the altcoin is trading at $0.65. Overcoming resistance at $0.81 and $0.96 could push its price above $1.00. However, a failed breakout attempt could lead to consolidation below $0.96, as was the case from April to June.

Conflux (CFX)
A hard fork of Conflux is scheduled for August 6, bringing numerous changes, including possible increases in lock/unlock periods and withdrawals in the Proof of Stake (PoS) system. This could result in price volatility for CFX, helping the altcoin break out of the consolidation range of $0.17 to $0.14 and recover losses incurred in June. However, if the volatility favors bearish trends, CFX risks losing support at $0.14 and dropping below $0.10.

Solana (SOL)
Solana attracted the attention of institutional investors in July. If the interest from major holders in the altcoin continues, the price of SOL could rise by 30% and reach $245. However, if the current correction continues, the bullish scenario may not materialize, and the price of Solana could drop to $150.

Starknet (STRK)
Starknet is preparing for an upgrade scheduled for the end of August. This upgrade will increase the network's transaction capacity to 250 transactions per second, which could positively impact the price of STRK. The altcoin is currently trading at $0.456, having recovered from a drop to $0.424. If STRK can overcome resistance at $0.619 and hold above it, the price could rise to $1.043.

Axie Infinity (AXS)
Axie Infinity recently completed open beta testing for the Homeland Avatar Mode Open Beta, marking a significant improvement for the network. At this moment, the altcoin may face potential declines due to the formation of a "head and shoulders" pattern. Although AXS has not yet reached a minimum point, it also has not invalidated the pattern.

General Conclusions
Choosing altcoins to invest in August 2024 requires careful analysis. Including Flow, Conflux, Solana, Starknet and Axie Infinity in your portfolio can be a profitable move if you consider upcoming updates and events affecting their price. Despite the current market volatility, a sound investment approach and an understanding of the key factors affecting the value of altcoins will help mitigate risk and increase profit potential.