The month of October, better known as “Uptober” in the crypto market, is expected to trigger rallies and gains for many altcoins.

BeInCrypto has analysed the top three tokens that should be on your watchlist this week and what you should expect from their price action.

FTX Token (FTT)

FTT price has already been rallying over the last few days as the rumors of the repayment to creditors began making the rounds. This led to the altcoin noting an 84% surge in the last eight days.

Trading at $2.57, the FTX token is expected to continue its rally this week as the actual hearing of the repayment plan is scheduled for October 7. This hearing could be the path to $16 billion worth of distribution among creditors.

Read More: Who Is John J. Ray III, FTX’s New CEO?

Consequently, FTT’s price could benefit from the surge in optimism, pushing the altcoin to $2.98 and higher. However, after the announcement of repayment, FTT might experience a pullback as traders could follow the principle of buying the rumor and selling the news.

MANTRA (OM)

MANTRA’s mainnet is scheduled to go live sometime before the end of this month, and the effects of the anticipation can already be seen in OM’s price. The native token of the L1 chain established a new all-time high today.

OM price’s previous ATH was established back in mid-July, and the new high was $1.47. However, by the looks of it, this ATH will be short-lived as the bullishness could keep driving the price higher.

Read More: How To Invest in Real-World Crypto Assets (RWA)?

Nevertheless, if the investors attempt to cash out at the current price, a drawdown is on the cards. The next likely support could be formed around $1.20, but further drawdown could bring OM to $1.04.

Stacks (STX)

STX price does not have an all-time high scheduled anytime soon, but a rally is still on the cards. This is because the altcoin’s network will be going through one of the biggest hard forks – Nakamoto.

The Nakamoto upgrade on October 9 is expected to enhance the network immensely by reducing the Stacks’ block time to five seconds. Along with this the upgrade will also create 100% Bitcoin finality.

Read More: What Are Sidechains And How Do They Work?

Consequently, STX price is expected to rally to $2.06, the next crucial resistance level. Breaching it will enable a rise to $2.26 and also mark a four-month high for the altcoin.

Over the past week, Toncoin (TON) whales have capitalized on recent dips to buy more tokens. This has led to a resurgence in the demand for the altcoin, which has driven up its value since last weekend.

As of this writing, TON is trading at $5.34, noting a 2% price increase over the past 24 hours and a 20% surge in trading volume. While whale activity offers a short-term boost to TON’s price, not everyone shares their optimism.

Toncoin Whales Boost Price

In the past week, TON large holders or whales have increased their accumulation, as evidenced by the spike in its large holders’ netflow. IntoTheBlock’s data has revealed a 124% increase over the past seven days.

Large holders refer to addresses that hold over 0.1% of an asset’s circulating supply. Their netflow measures the difference between the coin they buy and the amount they sell over a specified period. When the metric spikes, it indicates that these whale addresses are buying more coins.

Read more: What Are Telegram Bot Coins?

Moreover, the surge in whale activity has triggered a rise in Toncoin’s price since last weekend, with many transactions now yielding profits. As of Monday, the ratio of TON’s daily transaction volume in profit versus loss is 3.61, its highest in ten days. This indicates that for every transaction ending in loss today, 3.61 transactions have turned a profit.

While this is a bullish signal for TON holders, it could pose risks to its price. The higher potential for profit might prompt investors to sell, which could increase selling pressure. If this happens, TON’s recent gains may reverse, erasing the current upward momentum.

TON Price Prediction: The Desire for Profit May Lead to a Decline

Toncoin whale activity could further fuel demand for the altcoin. When retail investors notice large holders increasing their trades, it often boosts confidence, leading to increased buying and sustained price growth.

If TON experiences a surge in demand, its price could rise by 27%, reaching $6.81 — a level it has struggled to rally past since June.

Read more: What Are Telegram Mini Apps? A Guide for Crypto Beginners

However, if the pursuit of profit triggers more selling, Toncoin’s price may drop by 18%, potentially falling to $4.42.

Ethereum price started a fresh increase from the $2,300 support zone. ETH is rising and might aim for a move above the $2,550 resistance.

• Ethereum started a decent increase above the $2,350 and $2,420 levels.
• The price is trading above $2,420 and the 100-hourly Simple Moving Average.
• There is a key bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair must clear the $2,525 and $2,550 resistance levels to continue higher in the near term.

Ethereum Price Aims Higher

Ethereum price remained stable above the $2,300 level and started a fresh increase. ETH was able to clear the $2,350 resistance to move into a positive zone like Bitcoin.

The price was able to climb above the $2,400 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. Finally, the bulls pushed the price above the $2,500 resistance.

Ethereum price is now trading above $2,450 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD.

On the upside, the price seems to be facing hurdles near the $2,525 level. It is close to the 61.8% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. A clear move above the $2,525 resistance might send the price toward the $2,550 resistance.

An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,720 level or $2,740.

Another Decline In ETH?

If Ethereum fails to clear the $2,525 resistance, it could start another decline. Initial support on the downside is near the $2,450 level. The first major support sits near the $2,420 zone and the trend line.

A clear move below the $2,420 support might push the price toward $2,350. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.

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 – $2,420

Major Resistance Level – $2,525