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October is almost here. Cryptocurrency traders are eagerly awaiting the market’s normal rally at this time of year.
As the market prepares for a potential surge, we’ve compiled a list of altcoins you should keep an eye on in October.
Celestia（TIA）
TIA tokens worth $1.1 billion will be unlocked on October 31 and distributed to the project's core contributors, R&D personnel, and Series A, B, and Seed investors.
Generally, a large influx of tokens into the market can increase selling pressure. If the market is already in a downturn or generally depressed state, token unlocking can exacerbate this situation.
Celestia Price Analysis
Currently, market participants are very bullish on TIA. Currently trading at $6.42, it has risen 10% in the past week. This upward trend is expected to continue into October, with prices expected to climb to $12.47, thanks to Celestia's just-completed $100 million financing.
However, if market enthusiasm drops sharply as the token unlock approaches, the price of TIA could fall back and even drop to $3.72.
Uniswap （UNI）
One of the reasons why UNI was included in the October watchlist is that Uniswap V4 is likely to be launched in the last quarter of this year. This iteration of the decentralized exchange (DEX) introduces several key features, including "pegging" for customizable liquidity pools, singleton contracts for lower gas fees, and flash accounting for improved transaction efficiency.
Uniswap Price Analysis
The anticipation of this upgrade could drive UNI’s price higher in October. The altcoin is trading at $7.46, having gained 28% in the last month. If the market’s upward trend continues, UNI could attempt to break through the critical resistance level of $9.42.
You are (You are)
Sei has been in the news lately as its native token Sei continues to hit new highs. Currently priced at $0.45, it is the third fastest growing altcoin among the top 100 altcoins by market cap in the past week, surging 32% during that period.
An assessment of the strength of its bulls and bears shows a clearly bullish market. This is exemplified by the positive Elder-Ray Index, which measures the strength of buyers and sellers in the market. At press time, the index stood at 0.16, indicating strong buying pressure.
However, for traders looking to profit from the rebound, it is important to note that Sei could see a price reversal in October. Its relative strength index (RSI) reading is currently 73.36, indicating that the altcoin is overbought.
Sei Price Analysis
The RSI is used to measure overbought or oversold market conditions for an asset on a scale from 0 to 100. Values above 70 indicate that the asset is overbought and may be due for a pullback, while values below 30 indicate that the asset is oversold and may be due for a quick rebound.
SEI’s price correction could result in it trading as low as $0.20 in October. However, if demand continues to enter the market, the token’s price could rise by another 70%, although the probability of this happening is low.
Ripple（XRP）
Rumor has it that the U.S. Securities and Exchange Commission (SEC) plans to appeal Judge Analisa Torres’ July 13 ruling in the Ripple case, with a deadline of October 7. If the regulator insists on the appeal, XRP could lose some of its recent gains.
The SEC’s appeal could increase selling pressure on XRP, shifting market sentiment toward the altcoin from bullish or neutral to bearish.
XRP Price Analysis
If this happens, the price of XRP could drop by 21% to the support level of $0.46. However, if no such appeal is made, the coin could continue its upward trend and rise by a further 26% to reach a trading price of $0.74.
Phantom(FTM)
Fantom's upcoming Sonic upgrade has fueled FTM's gains this month, and the momentum is expected to continue into October. This upgrade will be launched on the mainnet in November and will significantly improve network performance with the help of the new Fantom Virtual Machine (FVM), optimized Lachesis consensus mechanism and Carmen database storage system.
Fantom Price Analysis
As excitement builds for the mainnet launch, FTM’s price could rise to $1.02 and pave the way for it to reach a five-month high of $1.23.
