Date: Sat, Sept 28, 2024, 03:00 PM GMT
The cryptocurrency market has experienced a bullish surge in the last two weeks, fueled by the Federal Reserve’s interest rate cut and optimistic expectations for October, a historically strong month for crypto. Bitcoin (BTC) has risen to $66,000, its highest level since July 31, and major altcoins are following suit, showing impressive gains.
Here’s a look at three altcoins that could potentially hit new all-time highs in October.
1) Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of Binance, one of the largest exchanges in the world. A significant bullish trigger for BNB is the recent release of its former CEO, Changpeng Zhao, which many in the crypto community see as a pivotal moment that could spark a bull run.
Currently, BNB is trading at $602, forming a channel pattern. If it breaks out, BNB could target its next resistance at $721, which also marks its all-time high (ATH). A successful breakout would position BNB for further gains as market sentiment turns increasingly positive.
2) Sui (SUI)
Sui is a permissionless smart contract platform that uses the Move programming language. The native token, SUI, has been on a tear, surging by an astounding 94.55% in the past 30 days. This rally has been driven primarily by the launch of the Sui Trust fund by Grayscale, further boosting confidence in the project.
At the time of writing, SUI is trading at $1.65, with key resistance at $1.72. A breakout from this level could propel SUI toward its next target of $2.18, which is also its all-time high. Given the strong momentum, SUI is well-positioned for further growth.
3) Mantra (OM)
Mantra (OM), a leading project in the booming Real World Assets (RWA) sector, has been steadily gaining ground. Over the last 30 days, OM has risen by over 30%, and it appears primed to reach new heights, especially with its upcoming mainnet launch.
OM is currently trading at $1.23, having already broken its previous resistance at $1.18. The next target for OM is $1.41, which represents its all-time high. With strong fundamentals and an upcoming milestone, OM looks like one of the most promising altcoins to watch.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.