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Altcoins to Watch in October 2024: 3 Underrated Gems
October is historically a bullish month for the crypto market. Because of this, investors might be on the lookout for hidden gem altcoins that could bring significant gains.
These lesser-known cryptocurrencies sometimes have strong fundamentals and increasing community support, which could make them worth monitoring. As such, this analysis uncovers three under-the-radar altcoins that show promising signs of a major pump in October.
Echelon Prime (PRIME)
PRIME, the native token of the decentralized finance and gaming web3 project, tops this list of altcoins. One reason for its inclusion is the assertion that gaming tokens could be one of the trending narratives next month and throughout the rest of the year.
Built on the Ethereum blockchain, PRIME’s price has increased by 35.39% in the last 30 days, with the most gains coming from the recent token unlock.
Furthermore, a look at the addresses by time held shows that many investors who have owned the token within the last month through the last 365 days have refrained from selling it. Thus, this suggests a high conviction in its short to long-term potential and that PRIME might not undergo a major price correction.
On the daily chart, PRIME’s prime jumped above $12 on September 28. This surge could be attributed to the breakout from the descending triangle, which is due to the formation of lower highs and a horizontal support level.
PRIME’s price has decreased to $10.20. However, the Money Flow Index (MFI) reveals that substantial capital is still flowing into the altcoins. As a result, a major rebound could occur from its current price.
Read more: 5 Best Crypto Payment Gateways Every Business Should Know
If that happens, PRIME’s value might surge by 70% in October, potentially reaching $17.25 before the month ends. On the other hand, the altcoin’s price might face a notable downturn if it drops below $10.17. In that scenario, the price could fall to $8.07.
Celo (CELO)
Celo is ranked the 159th most valuable crypto in terms of market capitalization. It is built on Ethereum and focuses on real-world stablecoin utility. On September 25, Ethereum co-founder Vitalik Buterin applauded Celo for surpassing Tron in terms of stablecoin activity.
This development implied improved user engagement on the Ethereum layer-2 project. Apart from that, digital asset management firm Grayscale added CELO to the list of altcoins, which it expects to perform well during this year’s last quarter.
Based on the daily chart, CELO’s price climbed over 50% in less than two weeks after the formation of an inverse head and shoulder pattern. This technical pattern is a bearish-to-bullish reversal, which usually brings about a staggering price increase.
As of this writing, CELO’s price is 0.64. However, as it happened during the uptrend, this decline could be a brief drawdown, and a rebound might likely be likely in the coming days.
Once validated, CELO might increase by nearly 36% and hit $0.87 in October. However, if CELO’s price slips below $0.60, it might end the month in a net negative.
Aethir (ATH)
As a Decentralized Physical Infrastructure Network (DePIN) project, Aethir (ATH) enhances the distribution of AI chips. With its structure, the ATH is also a gaming token, reinforcing the notion that AI tokens, as well as gaming altcoins, could perform well in October.
Interestingly, ex-BitMEX CEO Arthur Hayes appears to share a similar value, especially after he dumped other altcoins for the token. Based on the daily chart, the 20-day Exponential Moving Average (EMA) — in blue has crossed over the 50 EMA (yellow) for the first time in a long while.
The EMA measures trend direction. When the longer EMA crosses above the shorter one, the trend is bearish. Therefore, the current situation (golden cross) with ATH trading at $0.065 means that the altcoin trend is bullish.
Read more: 10 Best Altcoin Exchanges In 2024
Despite a recent decline, the Golden Cross formation suggests that ATH’s price might return northward. If that happens, then ATH could rise toward $0.090 next month. On the flip side, Aethir’s price could decrease to $0.053 if the 50 EMA rises above the 20 EMA again, invalidating the bullish prediction.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
Ethereum price started a fresh increase above the $3,220 zone. ETH is rising and aiming for more gains above the $3,350 resistance.
- Ethereum started a fresh increase above the $3,220 and $3,300 levels.
- The price is trading above $3,250 and the 100-hourly Simple Moving Average.
- There is a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could gain bullish momentum if it clears the $3,385 resistance zone.
Ethereum Price Regains Traction
Ethereum price remained supported above $3,000 and started a fresh increase like Bitcoin. ETH gained pace for a move above the $3,150 and $3,220 resistance levels.
The bulls pumped the price above the $3,300 level. It gained over 10% and traded as high as $3,387. It is now consolidating gains above the 23.6% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high.
Ethereum price is now trading above $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,350 level. There is also a short-term contracting triangle forming with resistance at $3,360 on the hourly chart of ETH/USD.
The first major resistance is near the $3,385 level. The main resistance is now forming near $3,420. A clear move above the $3,420 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,880.
Another Decline In ETH?
If Ethereum fails to clear the $3,350 resistance, it could start another decline. Initial support on the downside is near the $3,300 level. The first major support sits near the $3,250 zone.
A clear move below the $3,250 support might push the price toward $3,220 or the 50% Fib retracement level of the recent move from the $3,036 swing low to the $3,387 high. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $3,250
Major Resistance Level – $3,385
GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.
However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.
GOAT BBTrend Is Negative For The First Time In 4 Days
GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.
BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.
GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.
However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.
GOAT Is In A Neutral Zone
GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.
The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.
RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.
This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.
GOAT Price Prediction: A New Surge Until $1.50?
If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.
Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.
However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.
Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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