- Five altcoins – Uniswap, Ripple, Fantom, Sei, and Celestia have been tipped to lead the highly expected rally in October (Uptober) 2024.
- According to analysts, XRP’s fate would largely depend 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 away from entering one of the most bullish months in the crypto calendar, October (Uptober), analysts have carefully selected five major altcoins that could be the talking point based on their value proposition within the period.
Celestia (TIA)
Celestia (TIA), the world’s first data-available blockchain network, has even before the beginning of the much anticipated broad market rally, secured crucial resistance levels on its price curve. According to our market data, TIA has surged by 30% in the last 30 days, and 5.7% in the last seven days to trade at $6.2. Interestingly, analysts expect an extension of the bullish run fueled by the reactions to the recent funding round that saw the project raising $100 million.
Investors are, however, cautioned to study the market before making a move as the $1.1 billion worth of Celestia tokens announced to be unlocked on October 31 could trigger severe selling pressure. In all, the price has been predicted to touch the $12.47 resistance level in October. Failure to secure this position could send the price down to $3.72.
Fantom (FTM)
In the last 30 days, Fantom (FTM) has made a significant surge of 58% and 7% in the last seven days to trade at $0.67. According to analysts, this asset may go all the way to its five-month high of $1.23, fueled by the excitement building around the upcoming Sonic upgrade. This upgrade will be launched on the mainnet in November and will introduce the network to the new Fantom Virtual Machine (FVM) to boost its performance. Until then, the asset could steadily move up the price curve, and continue its run after the implementation.
Uniswap (UNI)
Uniswap (UNI) would launch its Uniswap V4 in the fourth quarter of 2024 (Q4 2024) to integrate some important features to the platform including “hooks” for customizable liquidity pools, singleton contracts for reduced gas fees, etc. This is expected to push the price up in October to breach its $9.42 crucial resistance level. At press time, UNI was trading at $7.6 after surging by 31% in the last 30 days, 13% in the last seven days, and 3.8% in the last 24 hours.
Sei (SEI)
Sei’s growth over the past few weeks has been incredible as it appeals to investors with its buying pressure reading 0.16 on the Elder-Ray Index. Recently, it was ranked the third fastest-growing altcoin among the leading 100 crypto assets by market cap. However, analysts warn that this asset could embark on a short pullback in October before charging up the price curve. This is confirmed by its Relative Strength Index’s (RSI) reading of 73.36 which indicates an overbought. Sei could fall to as low as $0.20 in October. In the moment of a rebound, the asset could surge by 70%.
At press time, Sei was trading at $0.44 after surging by 43% in the last 30 days and 21% in the last seven days.
Ripple (XRP)
As we reported on September 27, the US Securities and Exchange Commission (SEC) could file an appeal to Judge Analisa Torres’ 2023 ruling on the programmatic sales of XRP. Currently, the deadline for appeal is October 7. When this happens, XRP could witness a massive selling pressure which would “drag the price down” to $0.46. If the SEC decides not to appeal, the price could continue its upsurge to $0.74.
At press time, XRP was trading at $0.58 after surging by 2.2% in the last 30 days and 0.69% in the last seven days.
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