Top 3 Altcoins to Sell in Uptober 2024 💯
As market conditions shift in October, three altcoins—FTX (FTT), Stacks (STX), and MANTRA (OM)—are showing signs of potential decline, with anticipated drops between 25% and 40%. Here's why they may not fare well this month.
Market Overview
The crypto market has turned red after a 3.2% sell-off, dampening hopes for a bullish October—often called "Uptober." With Bitcoin poised to continue its losses, here are three altcoins that investors should consider selling before election results on November 5.
1. FTX Token ($FTT )
FTT, the native token of the FTX exchange, surged over 55% after court approval of the company’s reorganization plan. However, recent profit-taking has led to sharp declines. Currently priced at $2.21, FTT faces significant selling pressure, with a possible drop of up to 37% in October.
OM, the governance token of the MANTRA DeFi protocol, hit an all-time high of $1.4746 amid anticipation for its main net launch. However, technical analysis suggests weakness, with the price facing resistance. Investors cashing out for profits could cause OM to fall as low as $0.85, marking a 34% decrease.
Stacks, a layer-2 solution for Bitcoin, experienced a 30% pump in anticipation of the Nakamoto network upgrade and the launch of the sBTC stablecoin. Despite these developments, the STX price has started to decline, currently down 3% at $1.69. A further 25% drop could bring the price to $1.28.
Conclusion
While October is often a green month for crypto, FTT, OM, and STX are showing signs of a potential downturn. Diversifying into stronger tokens may be a better strategy for investors this month.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE
⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
