3 Bullish Altcoins Predicted
to Outperform
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in October 2024
Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) dominated the headlines for most of 2024 as its price
outperformed most of the top altcoins. However, with October approaching,
things have started to change, and the number one• Музыка » Музыка США » Музыканты США » Музыкальные коллективы США » Рок-группы США » Manowar » Альбомы Manowar » Number One cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта is starting
to play second fiddle.
This shift is why investors are eyeing a potential breakout for non-BTC
cryptos as speculation of an altcoin season intensifies. Here are the three
altcoins that could stand out from the crowd in October 2024.
Stacks (STX)
Stacks is a Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin layer-2 project that enhances the development of smart
contract applications on blockchains. Its native token, STX, has seen its
price increase by 20% in the last seven days and is one of the altcoins that
could outperform Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin next month.
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STX is on this list because, finally, the anticipated Nakamoto upgrade will
take place on October 9. The event, which is expected to be bullish, was named
after Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin s pseudonymous creator, Nakamoto Satoshi .
When implemented, the upgrade would improve decentralized finance ( DeFi ) on
the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin network. Stacks might also introduce a Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin-pegged token, sBTC,
along with the mainnet upgrade.
Currently, STX’s price is $1.964. On the daily chart, the altcoin’s price
dropped to $1.05 during the August 5 crash. However, the formation of an
inverse head and shoulders pattern appears to have changed things for the
token.
The inverse head-and-shoulders pattern is a bearish-to-bullish reversal in
which buyers capitalize on sellers fatigue. Eventually, this leads to
an upward price movement.
As of this writing, STX faces resistance at $2. However, the support at $1.73
reveals that it might not take long for the altcoin to rebound.
Read More: 10 Alternative Crypto Exchanges After Bybit Exits France
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Stacks Daily Price Analysis. Source: TradingView
Once that happens, Stacks’ price might increase by another 20% and hit $2.38
in October 2024. On the flip side, the prediction might not come to pass if
STX bulls fail to breach the $2 resistance. If that is the case, the altcoin’s
value might decline below $1.73.
THORChain (RUNE)
RUNE, the native cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта of decentralized liquidity THORChain, is one
of the altcoins predicted to outperform Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin in October. One reason is the
rise in RUNE’s volume , which has been crucial to its 30-day price increase.
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While RUNE’s price is $5.34, it appears to have encountered a roadblock at
$5.40. As a result, the altcoin could face a brief pullback similar to what
happened in May. Furthermore, the token could replicate a rerun of the
performance that saw the price bounce and climb to $7.28. THORChain Price
Analysis. Source: TradingView
This time, the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта might perform better as the image above shows a
possible 40% price increase to $7.54 in October 2024. On the contrary, RUNE’s
price could decline to $4.50 and invalidate this thesis if buying pressure
falters.
Fantom (FTM)
The major rationale for Fantom’s inclusion is the excitement about the Sonic
upgrade . The upgrade is expected to improve translation speed and storage
efficiency on the 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. Beyond that, the token, which has been one of
the best-performing altcoins in recent times, could also see a migration to
the ticker “S.”
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According to the daily chart, FTM’s price is $0.67, with the Exponential
Moving Average (EMA) flashing bullish signals. As shown below, the 20 EMA
(blue) has crossed over the 50 EMA (yellow). In addition, for the first time
in a long while, the 20 EMA has risen above the 200 EMA (purple), indicating
that a consistent rally is in the works.
Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
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Fantom Daily Price Analysis. Source: TradingView
Therefore, Fantom’s price could likely jump by 36.70%, reaching $0.92.
Contrarily, the price might struggle to hit the point that if the sentiment
around the token turns bearish, FTM could remain range-bound at around $0.65.
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