1. LayerZero (ZRO): Multi-Chain Interoperability Leads to New Heights
LayerZero is a cross-chain communication protocol that is gaining significant traction. Its native token, ZRO, has increased in price by 27.7% over the past month, trading at $5.06. Recent project developments, including the reallocation of unclaimed airdrops, have renewed investor interest, pushing ZRO closer to its previous all-time high of $5.57.
Technical indicators such as the ascending triangle and the positive Awesome Oscillator (AO) indicate bullish momentum. If this continues, ZRO could surge 30% and reach $6.55 by October. However, if the altcoin loses momentum, a drop to $4.39 is possible.
2. Sui (SUI): Institutional Confidence Drives Price Growth
Sui (SUI) is another altcoin poised for explosive growth. As of press time, SUI is trading at $1.62, reflecting a nearly 95% increase over the past month. The recent launch of the Grayscale SUI Trust has contributed to the surge in demand, with some speculating that SUI could be the next Solana (SOL).
Technical analysis shows strong support around $1.60, with SUIâs price currently above the Ichimoku Cloud, suggesting upside potential. If SUI can break above $2, it could surge 40%, reaching $2.25 by October. However, if it is rejected at $2, the token could drop to $1.50.
3. Binance Coin (BNB): Riding the Wave of Positive Sentiment
Binance Coin (BNB) remains a key player in the crypto space, buoyed by the departure of former Binance CEO Changpeng Zhao and general market optimism. Currently trading at $602.20, BNB has shown resilience after breaking out of a falling trendline in early September.
Although Chaikin Money Flow (CMF) signals overbought conditions, BNB could still reach new highs, potentially surpassing $700 and heading towards $725 by the end of October. However, if buying pressure weakens, BNB price could fall back to $564.
4. MANTRA (OM): Real World Asset Project on the Verge of Explosion
MANTRAâs OM token is another altcoin that is on the verge of hitting a new all-time high. Currently priced at $1.23, OM is down 13% from its peak of $1.42. However, technical indicators such as the golden cross between the 20-day and 50-day EMAs suggest that an uptrend is forming.
With the upcoming MANTRA Mainnet launch, OM could break above the $1.29 resistance and rally 22% to $1.50. The support at $1.22 provides a solid foundation for the tokenâs growth in the coming month.
Conclusion
The altcoin market is primed for growth in October 2024, with LayerZero, Sui, Binance Coin, and MANTRA all showing strong potential to reach new record highs. Investors should keep a close eye on these projects, as each presents unique opportunities to make significant gains in the coming month.
