October has historically been a pivotal month for the cryptocurrency market, with altcoins seeing significant upward momentum. According to analyst Victor Olanrewaju, four altcoins could be on the verge of breaking their previous all-time highs due to rising demand and favorable market conditions. Let’s explore the technical setups for these altcoins.
1. LayerZero (ZRO)
LayerZero’s native token, ZRO, has experienced a 27.7% increase over the past 30 days, currently trading at $5.06. This rise in value is largely attributed to the project’s decision to reallocate unclaimed airdrops to active wallets, sparking a renewed interest from investors. While ZRO is still 7.72% below its all-time high of $5.57, it could breach this level in October, with a potential 30% price hike bringing it to $6.55. However, if the momentum falters, the token may dip to $4.39. The Bit Journal advises monitoring this potential breakout closely.
2. Sui (SUI)
Sui has become a hot topic among investors, especially after Grayscale’s introduction of the SUI Trust. Sui’s price has surged by 94.95% over the last month, hitting $1.62. Some predict that SUI could become the next Solana (SOL) in this market cycle. Technically, the altcoin is facing resistance near $1.77, but if it breaks past this, it could reach $2.25 in October. However, if the resistance holds firm, a pullback to $1.50 is possible.
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3. Binance Coin (BNB)
Binance Coin has been gaining momentum, largely driven by the return of former Binance CEO Changpeng Zhao. Currently trading at $602.20, BNB could hit new highs if the market sustains its bullish sentiment. The token could potentially surpass $725 by the end of October. However, traders should remain cautious, as a dip back to $564 is possible if buy pressure weakens.
4. MANTRA (OM)
Rounding off the list is MANTRA (OM), which is benefiting from the anticipation of the upcoming MANTRA Mainnet launch. Currently trading 13% below its all-time high at $1.42, the token could surge to $1.50 in October. A recent golden-cross pattern on its EMA chart indicates strong bullish momentum. However, if the market turns bearish, OM could drop to $1.05.
While these altcoins show promising potential, The Bit Journal reminds readers to conduct their own research before making any investment decisions. Market conditions can change rapidly, and predictions should not be taken as financial advice.
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The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.
You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.
Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.
