October is traditionally a bullish month for altcoins and cryptocurrencies in general. With strong momentum, fueled by increased demand and favorable market conditions, some altcoins are also getting closer to breaking their previous all-time highs.

This analysis highlights four altcoins that will see explosive growth in the coming months and how they could reach new record highs by October 2024. The list includes LayerZero (ZRO), Sui (SUI), Binance Coin (BNB), and MANTRA (OM).

Binance Coin (BNB)

The list of altcoins with the potential to reach new highs would be incomplete without BNB. Market participants, largely spurred by the early release of former Binance CEO Changpeng Zhao, believe this development confirms the return of the bull market.

As such, the price of BNB could rise sharply from there. Today, the price of this altcoin is $602.20. Based on the daily chart, the coin was able to reclaim this area after breaking out of the descending trendline on September 8.

However, despite the increase in Chaikin Money Flow (CMF), the chart below shows that BNB is overbought. This is because the CMF index reached 0.20, indicating the condition mentioned above.

Therefore, the price of BNB may decline in the short term. But before the end of October, this altcoin may surpass the $700 level and reach a new high near $725.

However, traders need to be cautious. A lack of buying pressure next month could render this forecast invalid. In that case, BNB could drop to $564.

Sui (SUI)

Sui is another altcoin that could hit a new all-time high in October 2024. As of this writing, the price of SUI is $1.62, up 94.95% over the past 30 days. The altcoin’s performance could be related to the Grayscale SUI Trust, an asset management company that launched a few weeks ago.

Additionally, the token is also seeing notable demand, with some predicting that it is the Solana (SOL) of this cycle. Currently, SUI is 25% away from its previous high. According to the daily chart, SUI's attempt to retest $2 was rejected due to resistance around $1.77.

LayerZero (ZRO)

LayerZero is a multi-chain interoperability protocol designed for cross-chain communication between blockchain networks. Its native token, ZRO, is currently trading at $5.06, up 27.70% over the past 30 days.

ZRO’s price surge is linked to the project’s recent decision to reallocate unclaimed airdrops to active wallets. This action has sparked a new wave of investor interest in the token, which is now down 7.72% from its all-time high of $5.57.

Therefore, LayerZero is one of the altcoins expected to surpass its previous peak in October. On the daily chart, ZRO's price formed an ascending triangle, which saw the token making higher lows, indicating bullish momentum.

GOD (OM)

OM, the token of the Real World Assets MANTRA project, is fourth on this list. Interestingly, this is not the first time OM has appeared on a list of altcoins with the potential to reach new all-time highs. The token was there in August.

At press time, OM’s price was $1.23, down 13% from its all-time high of $1.42. Technically, the token could be headed toward $1.50. One reason for this bias is the Exponential Moving Average (EMA), which measures directional trends, and the anticipated MANTRA Mainnet launch.

The 20 EMA crossed above the 50 EMA on September 12. This crossover is known as the golden cross, which indicates a bullish trend for altcoins. If this continues, the price of OM could break above the resistance at $1.29. With support at $1.22, the token could surge 22% and reach $1.50.