As Bitcoin begins to recover from its recent decline, investors should closely monitor the following eight altcoins: LayerZero ($ZRO ), Bittensor ($TAO ), Render ($RENDER ), Hedera ($HBAR), Injective ($INJ), Io.net ($IO), Sui ($SUI), and Celestia ($TIA). Historically, the fourth quarter tends to be bullish for Bitcoin and the broader cryptocurrency market, suggesting these altcoins may be well-positioned for substantial gains.
Recent Price Movements
Despite the optimistic outlook for Q4, several of these altcoins have recently experienced price declines:
LayerZero ($ZRO): Fell by 6.30% to $3.38
Bittensor ($TAO): Decreased by 4.50% to $506.39
Render ($RENDER): Dropped by 6.56% to $4.77
Hedera ($HBAR): Declined by 5% to $0.04784
This recent volatility underscores the importance of monitoring price movements and market trends as Bitcoin approaches a critical resistance level.
INJ, IO, SUI, and TIA: Potential for Recovery?
Injective ($INJ)
has seen a significant decline, dropping 7.09% in the last 24 hours to trade at $18.64. Over the past week, INJ has fallen 15.06%, but it remains up approximately 52% since October 2023.
Sui ($SUI)
has also experienced a downturn, plunging 7.51% to $1.75, with a 15.07% decrease over the past week. However, SUI has gained an impressive 297.60% over the past year.
Celestia ($TIA) and Io.net ($IO) have faced recent price challenges, falling 11.61% and 8.99%, respectively, in the past 24 hours. Currently, TIA is trading at $5.27, while IO is priced at $1.72. Notably, IO has decreased by 73.29% from its all-time high, whereas TIA is down 74.76% from its peak.
Conclusion
Investors should remain vigilant and consider these altcoins as potential opportunities during Bitcoin'
s recovery phase in Q4 2024.
