1. LayerZero ($ZRO): Expanding Multi-Chain Ecosystem Drives Growth
LayerZero, a revolutionary cross-chain protocol, has experienced a surge in adoption. Its native token, ZRO, has surged 28.9% over the past 30 days, currently trading at $5.12. Recent updates, such as the reallocation of unclaimed tokens from previous airdrops, have spurred renewed interest from the investor community, bringing ZRO closer to its previous high of $5.60.
From a technical perspective, an ascending triangle pattern is forming, while the Awesome Oscillator (AO) continues to show positive momentum. If this bullish trajectory continues, ZRO could rise another 32% to $6.75 by the end of October. However, if the momentum stalls, a correction to $4.40 is not out of the question.
2. Sui ($SUI): Institutional Support Drives Price to Rise Rapidly
Sui (SUI) is attracting attention with its meteoric rise. Trading at $1.65, the token has surged nearly 100% over the past month. This growth is largely due to the launch of the Grayscale SUI Trust, which has increased demand, with some investors comparing SUI’s trajectory to the meteoric rise of Solana.
Technical indicators highlight solid support around $1.62 and with the price comfortably above the Ichimoku Cloud, the upside potential is strong. If SUI can break the psychological barrier at $2.10, it could surge another 42%, reaching $2.30 by the end of October. However, failure to hold this level could trigger a pullback to $1.52.
3. Binance Coin ($BNB): Benefiting from New Market Confidence
Binance Coin (BNB) continues to be a dominant force in the crypto world, buoyed by a wave of positive market sentiment following the departure of former CEO Changpeng Zhao. Currently valued at $610.50, BNB has maintained impressive strength after breaking out of a downtrend in early September.
While Chaikin Money Flow (CMF) points to a potential overbought scenario, BNB could still move higher, potentially breaking $710 and targeting $730 by the end of October. On the downside, if buying momentum wanes, BNB could find itself falling to around $570.
4. MANTRA (OM): Real-world asset integration positioning for breakthrough
MANTRA’s native token, OM, is showing signs of a significant breakout. Currently trading at $1.27, OM is still down 11% from its previous high of $1.43. However, key technical indicators, such as the recent golden cross between the 20-day and 50-day exponential moving averages (EMAs), point to the formation of a new bullish trend.
With the upcoming MANTRA Mainnet launch, OM looks poised to challenge resistance at $1.31. If successful, a 24% rally to $1.55 is reasonable in the coming weeks. If not, the token has solid support around $1.25, providing stability for future growth.
Conclusion
October 2024 is a great opportunity for altcoin investors, as tokens like LayerZero, Sui, Binance Coin, and MANTRA show strong potential to reach new record highs. Each project has its own factors driving its momentum, and investors should keep a close eye on these promising assets as they aim to make significant gains in the coming month.
