October has historically been a bullish month for altcoins and cryptocurrencies. Crypto analyst Victor Olanrewaju notes that four altcoins, supported by rising demand and favorable market conditions, have the potential to break previous all-time highs. The analyst examines the technicals of these altcoins.

Top Altcoin: LayerZero (ZRO)$ZRO

LayerZero’s native token, ZRO, is trading at $5.06, up 27.70% over the past 30 days. This increase is linked to the project’s decision to reallocate unclaimed airdrops. ZRO is 7.72% off its all-time high of $5.57. With the potential to surpass the previous peak in October, LayerZero has been making higher lows, forming an ascending triangle on the daily chart. ZRO could see a 30% rally to $6.55, but could fall to $4.39 if it loses momentum.

Second Ranking Altcoin: Sui (SUI)$SUI

Sui is another altcoin that has the potential to reach a new all-time high in October 2024. SUI is trading at $1.62, up 94.95% in the last 30 days. This rally is related to the asset management firm’s launch of the Grayscale SUI Trust. Currently, SUI is 25% off its previous high. On the daily chart, an attempt to retest $2 failed due to resistance at $1.77. However, finding strong support at $1.60 increases the likelihood that SUI will rise 40% in October to $2.25.

Third Ranking Altcoin: BNB$BNB

BNB is notable for the market rally following Changpeng Zhao’s early release. Today, BNB is trading at $602.20. On the daily chart, BNB has broken the downtrend line from September 8. However, despite the increase in Chaikin Money Flow (CMF), BNB appears to be overbought. It is expected to exceed $700 by the end of October, but if there is no buying pressure, the price could fall to $564.

Last Ranked Altcoin: MANTRA (OM)

MANTRA’s token, OM, is fourth on the list. OM is trading 13% lower than its ATH of $1.42. The crossover of the 20 EMA (blue) above the 50 EMA (yellow) signals a potential ‘golden cross’. This increases the likelihood of OM breaking the $1.29 resistance and reaching $1.50. However, the reversal in the EMA position could see the price drop to $1.05.

These altcoins should be closely monitored for potential gains in October.