Top 5 Altcoins Set to Lead the October Rally: Uniswap, Ripple, Fantom, Sei, and Celestia
Five altcoins – Uniswap, Ripple, Fantom, Sei, and Celestia – are predicted to lead the highly anticipated rally in October 2024, also known as “Uptober.” Analysts suggest that the fate of XRP largely hinges on the decision of the US Securities and Exchange Commission (SEC) to appeal the July 2023 ruling in the Ripple case.
With just three days left before entering one of the most bullish months in the crypto calendar, analysts have selected five major altcoins that are expected to be the focus based on their value propositions. Below, we explore the potential of each altcoin during this exciting period.
Celestia (TIA)
Celestia (TIA), the world’s first data-available blockchain network, has secured crucial resistance levels on its price curve ahead of the anticipated market rally. According to market data, TIA has surged by 30% over the past 30 days and 5.7% in the last seven days to trade at $6.20. Analysts expect the bullish run to continue, driven by the recent funding round in which the project raised $100 million.
- Investors are advised to monitor the market closely, as the $1.1 billion worth of Celestia tokens announced for unlocking on October 31 could lead to significant selling pressure.
- The price has been predicted to reach the $12.47 resistance level in October, with failure to secure this position potentially sending the price down to $3.72.
Fantom (FTM)
Fantom (FTM) has made notable progress, surging 58% over the past 30 days and 7% in the last seven days, reaching a current trading price of $0.67. Analysts believe that the asset may reach its five-month high of $1.23, fueled by excitement over the upcoming Sonic upgrade.
- The Sonic upgrade, launching on the mainnet in November, will introduce the Fantom Virtual Machine (FVM) to enhance performance.
- Until then, Fantom is expected to move steadily up the price curve and continue its upward trend following the upgrade.
Uniswap (UNI)
Uniswap (UNI) is set to launch its Uniswap V4 in the fourth quarter of 2024, incorporating features such as “hooks” for customizable liquidity pools and singleton contracts for reduced gas fees. This development is anticipated to push the price upward in October, potentially breaching the $9.42 resistance level.
- At press time, UNI is trading at $7.60, after a 31% surge in the last 30 days, 13% in the last seven days, and 3.8% in the last 24 hours.
Sei (SEI)
Sei has demonstrated incredible growth over the past few weeks, appealing to investors with a buying pressure reading of 0.16 on the Elder-Ray Index. Recently, it was ranked the third fastest-growing altcoin among the top 100 crypto assets by market cap. However, analysts warn that Sei might experience a short pullback in October before continuing its rise.
- The Relative Strength Index (RSI) reading of 73.36 indicates an overbought condition, suggesting a potential price drop to as low as $0.20 in October.
- In the event of a rebound, Sei could surge by 70%.
- At press time, Sei is trading at $0.44, having surged 43% in the last 30 days and 21% in the last seven days.
Ripple (XRP)
As reported on September 27, the SEC could appeal Judge Analisa Torres’ 2023 ruling on the programmatic sales of XRP. The deadline for an appeal is October 7. Should this occur, XRP may face significant selling pressure, potentially dropping to $0.46.
- If the SEC decides not to appeal, XRP could continue its uptrend, reaching $0.74.
- At press time, XRP is trading at $0.58, following a 2.2% increase over the last 30 days and a 0.69% increase in the last seven days.
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