October, often referred to as "Uptober" in the crypto world, promises to bring rallies and profits for many altcoins.
Three key tokens that should be on your radar this week, along with what to expect from their price movements.
FTX Token (#FTT🔥🔥 )
The price of FTT token has surged in recent days due to speculation about upcoming repayments to creditors. This trend has resulted in an impressive 84% increase over just eight days.
Currently trading at $2.57, the FTX token is expected to continue its upward momentum this week. A key factor is the repayment plan hearing scheduled for October 7. This hearing could be decisive for distributing $16 billion among creditors.
Thanks to this optimism, FTT’s price could rise to $2.98 and beyond. However, after the repayment announcement, the price of FTT might decline as traders could follow the “buy the rumor, sell the news” strategy.
MANTRA (OM)
The launch of MANTRA’s mainnet is expected by the end of this month, and anticipation of this event is already reflected in the price of the #OMToken . The native token of the L1 blockchain has set a new all-time high today.
The previous ATH of OM was reached in mid-July, with a price of $1.47. However, the current #BullishSentiment suggests the price could continue to climb.
If investors decide to cash out, we could see a dip in the price. The next support level may settle around $1.20, but a larger sell-off could push OM down to $1.04.
Stacks (#STX )
Although the price of STX isn’t near an all-time high, a rally is still in play. The Stacks network is set to undergo one of its most significant hard forks, known as Nakamoto.
This upgrade, scheduled for October 9, is expected to significantly enhance the network by reducing block times to five seconds. Additionally, the upgrade will bring 100% Bitcoin finality.
As a result of these changes, the price of STX is anticipated to rise to $2.06, a key resistance level. If this level is broken, STX could continue its ascent to $2.26, marking a four-month high for the altcoin.
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