1. LayerZero (ZRO): Multichain Interoperability Leading to New Peaks
LayerZero is a cross-chain communication protocol gaining significant traction. Its native token, ZRO, has seen a 27.7% price increase over the past month, trading at $5.06. Recent project developments, including reallocating unclaimed airdrops, have renewed investor interest, pushing ZRO closer to its previous all-time high of $5.57.
Technical indicators like an ascending triangle formation and a positive Awesome Oscillator (AO) reading suggest bullish momentum. If this continues, ZRO could rise by 30% and reach $6.55 in October. However, if the altcoin loses momentum, a potential drop to $4.39 is possible.
2. Sui (SUI): Institutional Trust Fueling Price Growth
Sui (SUI) is another altcoin poised for explosive growth. As of now, SUI trades at $1.62, reflecting a nearly 95% increase in the past month. The recent launch of Grayscale SUI Trust has contributed to rising demand, with some speculating that SUI could be the next Solana (SOL).
Technical analysis shows strong support around $1.60, with SUI’s price currently above the Ichimoku Cloud, indicating upward potential. If SUI can break past $2, it may surge by 40%, hitting $2.25 by October. A rejection at $2, however, could see the token decline to $1.50.
3. Binance Coin (BNB): Riding the Wave of Positive Sentiment
Binance Coin (BNB) remains a key player in the crypto space, driven by the release of ex-Binance CEO Changpeng Zhao and overall market optimism. Currently trading at $602.20, BNB has shown resilience after breaking out of a descending trendline in early September.
Despite the Chaikin Money Flow (CMF) signaling an overbought condition, BNB could still reach new heights, potentially breaking past $700 and aiming for $725 by October’s end. Should buying pressure falter, however, BNB’s price could fall back to $564.
4. MANTRA (OM): Real World Assets Project on the Verge of a Breakout
MANTRA’s token, OM, is another altcoin on the verge of hitting a new all-time high. Currently priced at $1.23, OM is down 13% from its peak of $1.42. However, technical indicators like the golden cross between the 20-day and 50-day EMAs suggest that a bullish trend is forming.
With the upcoming MANTRA Mainnet launch, OM could breach the $1.29 resistance level and rise by 22% to hit $1.50. Support at $1.22 offers a solid foundation for the token’s growth in the coming month.
Conclusion
The altcoin market is primed for growth in October 2024, with LayerZero, Sui, Binance Coin, and MANTRA all showing strong potential for new all-time highs. Investors should watch these projects closely, as each one offers unique opportunities for substantial gains in the coming month.
