4 Altcoins That Could Hit
New All-Time Highs
in October
October has historically been a bullish month for altcoins and
cryptocurrencies• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта in general. With great momentum building, fueled by
increasing demand and favorable market conditions, several altcoins are also
inching closer to breaking their previous all-time highs.
This analysis• Математика » Математический анализ highlights four altcoins set for explosive growth in the next
months and how they can hit new all-time highs in October 2024. The list
includes LayerZero (ZRO), Sui (SUI), Binance Coin (BNB), and MANTRA (OM).
LayerZero (ZRO)
LayerZero is a multichain interoperability protocol designed for cross-chain
communication between blockchain• Информационные технологии » Информационно-коммуникационные технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн
• Высокие технологии » Информационные технологии и телекоммуникации » Базы данных » Публичная база транзакций » Блокчейн networks. Its native token, ZRO, currently
trades at $5.06, a 27.70% increase in the last 30 days.
ZRO’s price increase is linked to the project’s recent decision to reallocate
unclaimed airdrops to active wallets. The action sparked a new wave• Литература » Библиография » New Wave (серия) of
investors interest in the token, which is now 7.72% down from its
all-time high of $5.57.
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Due to this, LayerZero is one of the altcoins expected to surpass the previous
peak in October. On the daily chart, ZRO’s price formed an ascending triangle,
which saw the token hit higher lows, indicating a bullish momentum. LayerZero
Daily Price Analysis• Математика » Математический анализ. Source: TradingView
As seen above, the token has broken out of the triangle, reinforcing the
bullish prediction• Математика » Прикладная математика » Прогноз. Furthermore, the Awesome Oscillator (AO), which measures
momentum, has a positive reading, indicating that the uptrend is strong as the
price aims to hit $5.60
Going into October, ZRO might surpass the threshold, with a potential 30%
increase. If that happens, the altcoin might hit a new all-time high of $6.55.
However, if altcoins fail to keep up with the recently found momentum next
month, the token might decline to $4.39.
Sui (SUI)
Sui is another altcoin that could hit a new all-time high in October 2024. As
of this writing, SUI’s price is $1.62, a 94.95% increase within the last 30
days. The altcoin’s performance could be linked to Grayscale SUI Trust , which
the asset management firm launched some weeks back.
Beyond that, the token is also seeing notable demand, with some predicting
that it is the Solana ( SOL ) of this cycle. Currently, SUI is 25% away from
breaking its previous high. According to the daily chart, SUI’s attempt to
retest $2 has been rejected due to resistance around $1.77.
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However, the pullback has drawn the token to a support region close to $1.60
and could drive a rebound. In addition, the price is notably above the
Ichimoku Cloud. This technical indicator shows if there is notable support or
resistance.
When the cloud is above the price, there is strong resistance, and the price
can decline. But since it is below SUI’s price, the chances of hitting a
higher value are solid.
Read More: A Guide to the 10 Best Sui (SUI) Wallets in 2024 Sui Daily Price
Analysis• Математика » Математический анализ. Source: TradingView
By the looks of things, SUI could increase by 40% in October, bringing the
price to $2.25. However, this prediction• Математика » Прикладная математика » Прогноз might be invalidated if the token is
rejected at $2.00. In that scenario, it could drop to $1.50.
Binance Coin (BNB)
The list of altcoins with the potential to reach a new high will be incomplete
without BNB. Market participants, largely driven by the early release of
ex-Binance CEO Changpeng Zhao, believe that the development confirms a bull
market return.
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As such, BNB’s price could gain massively from it. Today, the altcoin’s price
is $602.20. Based on the daily chart, the coin was able to reclaim this zone
after it broke out of the descending trendline on September 8.
However, despite the rise in the Chaikin Money Flow (CMF), the chart below
shows that BNB is overbought. This is because the CMF reading reached 0.20,
which signifies the condition mentioned above. Binance Coin Daily Price
Analysis• Математика » Математический анализ. Source: TradingView
Due to this, BNB’s price might briefly decline. But before the end of October,
the altcoin could surpass $700 and move to a new high near $725.
However, traders need to watch out. A lack of buying pressure next month might
render this forecast invalid. In that case, BNB could drop to $564.
MANTRA (OM)
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OM, the token of the Real World Assets project MANTRA, is fourth on this list.
Interestingly, this is not the first time OM has appeared on the list of
altcoins with the potential to hit a new all-time high. In August, the token
was there.
At press time, OM’s price is $1.23, down $13% from its all-time high of $1.42.
From a technical perspective, the token might be looking at a run toward
$1.50. One reason for this bias is the Exponential Moving Average (EMA), which
measures directional trends, and the anticipated MANTRA Mainnet launch .
As seen below, the 20 EMA (blue) crossed over the 50 EMA(yellow) on September
12. This crossover is termed a golden cross, signifying a bullish trend for
the altcoins. Should this remain the case, OM’s price might breach the
resistance at $1.29. With support at $1.22, the token could rise by 22% and
hit $1.50.
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Read More: 10 Best Altcoin Exchanges In 2024 MANTRA Daily Price Analysis• Математика » Математический анализ.
Source: TradingView
However, if the EMA position changes with the longer one on the front foot,
the altcoin might not hit a new all-time high. If that happens, MANTRA’s price
could retrace to $1.05.
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informational purposes only and should not be considered financial or
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