After a sharp drop in early August, the altcoin market capitalization has made three consecutive new lows, indicating the formation of an ascending trendline. This trend reflects the growing bullish sentiment in the altcoin space. The most recent rally occurred on October 3, when the altcoin market capitalization rebounded from the $844.5 billion support level to reach approximately $908.04 billion at the time of writing. In view of this, investors are looking for reasonably priced tokens, especially the best cheap cryptocurrencies currently below $1.
1. The First Neiro (NEIRO) on Ethereum
Neiro (NEIRO) is currently priced at $0.0017322, having gained a whopping 43.59% in the past 24 hours. The cryptocurrency is trading near all-time highs, with significant liquidity relative to its market capitalization. As of October 8, 2024, market sentiment remains bullish, with 15 technical indicators indicating an upward trend and only one indicating bearish sentiment.
Looking at the price trend, Neiro is expected to fluctuate between $0.001436 and $0.002116 in the coming week. The forecast shows that if the upper limit target is reached, the coin’s value could rise by 47.37% and could reach $0.002116 by October 14, 2024. The daily forecast shows that the price will gradually increase, with the forecast values from October 8 to October 13, 2024 ranging from $0.001436 to $0.00199.
Overall, Neiro’s short-term outlook remains positive and is expected to continue rising in the coming days. However, market conditions can change at any time, causing actual price performance to differ from forecasts.
2. Chart (GRT)
The Graph Network has launched a major upgrade with the release of the Timeline Aggregation Protocol (TAP). This update aims to enhance scalability and decentralization, especially in the way payments to indexers are processed.
One important improvement provided by TAP is trust-minimized payments, which reduces the need for trust between gateways and indexers, thereby promoting a more decentralized network. In addition, the new protocol also allows indexers to directly handle payment receipts, simplifying payment management and making the entire process smoother.
Currently, The Graph (GRT) is priced at $0.167, having gained 4.73% in the past 24 hours. Market sentiment towards GRT remains bullish, with 21 technical indicators pointing to further gains. Forecasts suggest that GRT could trade between $0.174706 and $0.261602 this week. If the high end of the range is reached, the price could rise by 49.74% by October 14, 2024.
3. Brett (based on) (BRETT)
Brett’s price is $0.08894, up 7.80% in the past 24 hours. Notably, the asset has been trending up 16 of the past 30 days, meaning that 53% of the day’s closing prices were higher than the day’s opening prices.
In terms of liquidity, Brett remains well-positioned relative to its market cap, providing investors with favorable trading conditions. Brett’s price prediction appears bullish, with 16 technical indicators showing positive momentum, while 5 indicate a possible downturn.
Given that Brett’s price volatility over the past 30 days is around 9.71%, analysts believe now could be an opportune time for potential buyers. However, investors should remain cautious and keep a close eye on future market developments.
4. Fantom (FTM)
Fantom, a Layer-1 blockchain known for its scalability, has achieved significant growth of 62.52% in the past 30 days. Known for its high-speed transactions and low fees, the network continues to gain traction in the DeFi space. With the current relative strength index (RSI) at 63, some investors may view this as a promising opportunity.
Recent analysis of Fantom’s moving averages shows that the daily, weekly, and monthly charts are all showing “strong buy” signals. However, oscillators remain neutral, indicating a balanced market sentiment. Large transactions have surged 980% in the past 24 hours, indicating a possible accumulation by large investors. The increase in whale activity may indicate growing confidence among institutional investors.
Additionally, the Sonic update will provide a host of incentives for developers, including up to 90% gas fee rebates on user transactions. Fantom is also expected to launch a native stablecoin, a secure Ethereum gateway, and a 200 million token airdrop.
Market sentiment remains positive about Fantom’s future potential, as this update coincides with the altcoin season expected at the end of 2024. Overall, these developments make Fantom an interesting project to watch, with many waiting to see the impact of the Sonic update on the network ecosystem.
Conclusion:
The cryptocurrency bull run is gaining momentum as various altcoins show early signs of bullish activity. According to data from TradingView, the total altcoin market capitalization is making higher lows and is poised for an upside breakout.
