September was a relatively neutral month for the cryptocurrency market. This is visible in both Bitcoin (BTC) and many altcoins.

However, October could be a more positive month for altcoins, which are shaping up to be a potentially bullish structure. With that said, Bitcoin Magazine will be looking at the top altcoins in October that could reach new all-time highs.

Injective (INJ) breakout could lead to all-time highs

INJ prices have increased sharply since the beginning of the year. The upward movement created a break above the descending resistance line, which had previously existed since the all-time high.

The altcoin then hit a new yearly high at $9.97 in April.

Since then, INJ price has consolidated inside a symmetrical triangle, which is considered a neutral pattern. However, since the triangle appears after an uptrend, an eventual breakout above the triangle is the most likely price scenario going forward.

Furthermore, the number of Eliott Waves supports continued growth. To determine the direction of a trend, technical analysts use Elliott Wave theory, which involves studying long-term price patterns and investor psychology.

If the wave count is correct, INJ price is approaching the end of the fourth wave, after which a fifth and final increase is expected.

Measuring the length of waves one and three, the length of wave five can be predicted using the Fib projection. According to Fib retracement theory, after a significant price change in one direction, the price is expected to partially return to the previous price level before resuming the original trend.

This theory can also be used to identify the top of a future uptrend.

The 0.382 length of waves one and three would take INJ price to a new all-time high at $25, a 250% increase from the current price.

INJ/USDT 3-day chart | Source: TradingView

This bullish prediction will be invalidated if the price breaks below the triangle's support line at $6.50. In that case, INJ could fall 40% to $4.25.

OKB's wave count also favors a rise to a new ATH

OKB price fluctuations are similar to INJ, mainly due to the number of waves.

In a similar manner to Injective, the price is trading inside a symmetrical triangle, which is likely wave four of a five-wave upward movement. Price is quickly approaching the end of the pattern. At that point, a decisive movement can occur.

Due to the number of waves and the fact that the triangle appears after an upward movement, a breakout above it is the most likely scenario going forward.

If this happens, the next likely peak area would be $72. The target is found by projecting the length of the triangle to the breakout level (white line) and the 1.61 external Fib retracement level of the most recent decline. The target is 67% higher than the current price.

OKB/USDT 3-day chart | Source: TradingView

Despite this bullish prediction, a break below the triangle would invalidate the wave count. The price could drop 50% to $21 in that case.

Toncoin (TON) broke out of long-term resistance

Price #TON has been trading below a descending resistance line since the beginning of the year. This resulted in a low of $0.96 on June 11.

However, the price created a very long lower wick (green symbol) and has been rising since then. In September, TON broke above the aforementioned descending resistance line, reaching a high of $2.60.

If the bullish momentum continues, the 1.61 Fib extension of the most recent decline is found at $4.08. This is 85% higher than the current price and slightly below the all-time high of $4.90.

ToN/USDT Weekly Chart | Source: TradingView

If the rally loses momentum, TON could fall 27.50% and reach the descending resistance line at $1.60.

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