Historically, October tends to be a critical period for the cryptocurrency market, with altcoins typically showing significant gains during this period. According to analyst Victor Olanrewaju, four altcoins may be on the verge of breaking past their previous all-time highs due to rising demand and favorable market conditions. Now, let’s explore the technical setup of these altcoins.
Historically, October is a critical month for the cryptocurrency market, with altcoins showing significant upward momentum. According to analyst Victor Olanrewaju, four altcoins may be on the verge of breaking their previous all-time highs due to rising demand and favorable market conditions. Let’s explore the technical setup of these altcoins.
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1. LayerZero（ZRO）
LayerZero’s native token, ZRO, has gained 27.7% in the past 30 days and is currently trading at $5.06. The rise in its value can be mainly attributed to the project’s decision to redistribute unclaimed airdrops to active wallets, a move that has sparked new interest from investors. Although ZRO is still 7.72% below its all-time high of $5.57, it has the potential to break through this level in October, perhaps with a 30% increase in price to $6.55. However, if the momentum fades, the token could fall to $4.39. Bit Journal recommends keeping an eye on this potential breakout.
2. Sui
Sui has become a hot topic among investors, especially after Grayscale launched SUI Trust. Sui’s price has surged 94.95% in the past month to $1.62. Some predict that SUI could become the next Solana (SOL) in this market cycle. From a technical perspective, the altcoin faces resistance around $1.77, but if it breaks through this resistance, it could reach $2.25 in October. However, if the resistance holds firm, a pullback to $1.50 is possible.
3. Binance Coin (BNB)
Binance Coin continues to rise, mainly thanks to the return of former Binance CEO Changpeng Zhao. Currently, Binance Coin is trading at $602.20. If the market maintains bullish sentiment, Binance Coin may hit new highs. By the end of October, the price of Binance Coin may exceed $725. However, traders should remain cautious because once the buying pressure subsides, Binance Coin may fall back to $564.
4. Mantra (OM)
Coming at the end of the list is MANTRA (OM), which is benefiting from the anticipation for the upcoming MANTRA mainnet launch. Currently, the token is trading 13% below its all-time high of $1.42 but could surge to $1.50 in October. The recent golden cross pattern on its EMA chart suggests strong bullish momentum. However, if the market turns bearish, OM could drop to $1.05.
The article is for reference only and does not constitute investment advice.
