As the market adjusts to changing conditions, it is important to identify which assets may be struggling. While “Uptober” is typically a time of optimism in the crypto world, this year, several altcoins are showing signs of potential decline. Here is a detailed analysis of three altcoins you may want to consider selling in October ahead of the November 5 election results:

🔎 Market Overview

October has traditionally been one of the best months for cryptocurrencies over the past 12 years.

Despite this trend, the total cryptocurrency market capitalization (excluding Bitcoin) is down 5.68% this month.

The Bitcoin Fear and Greed Index also dropped from 49 to 33, signaling growing fear among investors.

🚫 Top 3 Altcoins worth selling in October 🚫

1. FTX Token (FTT)

Overview: Native token of the FTX cryptocurrency exchange.

Current performance:

55% spike after court approves FTX reorganization plan.

Currently down 2.6% over the last 24 hours, trading at $2.21.

Concerns:

Profit-taking is driving prices lower, with increased selling pressure likely to continue.

Recession likely as market sentiment weakens, despite $16 billion compensation plan.

2. Mantra (OM)

Overview: Utility and governance token of the MANTRA DeFi protocol.

Current performance:

Recently hit a new record high of $1.4746 due to upcoming mainnet launch.

Concerns:

Candlestick analysis shows buyers are exhausted, with the long upper wick indicating a bearish reversal.

If the selling pressure continues, OM price could drop as low as $0.85 – a potential drop of 34%.

3. Stacks (STX)

Overview: Layer 2 solution for Bitcoin, enabling the use of smart contracts and dApps on the Bitcoin mainnet.

Current performance:

The price has dropped 3% in the last 24 hours, currently at $1.69.

Concerns:

While STX could benefit from the Nakamoto network upgrade, its chart shows a potential 25% downside model.

If it continues to fall, the price could drop to around $1.28.

📉 Conclusion

While October is typically a bullish month, certain tokens may not perform as expected.

FTX (FTT), MANTRA (OM) and Stacks (STX) are showing signs of falling between 25% and 40% in the Uptober month.

Consider diversifying into other assets with stronger growth potential.

💡 Pro Tip: Always be vigilant and ready to adjust your portfolio to respond to market changes to maximize your profits in Uptober!