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The post Top 3 Altcoins to Buy Before the October Crypto Rally: SUI, Notcoin, and EigenLayer appeared first on Coinpedia Fintech News
With the crypto market witnessing almost $100M in short-side liquidations, the bull run chances are increasing amid Q4 rally chances. Further, as the BTC price is inching closer to surpassing the $65k mark as the buying pressure increases, the altcoins prepare to launch a new bull run.
Based on previous recoveries and ongoing bullish trends, here are the top three top-performing altcoins to buy this week. So, let’s take a quick look at the price chart of our altcoin picks.
Top Altcoins to Buy Before The October Rally:
SUI (SUI)
Nearing the $2 psychological mark, the SUI token has a market cap of $5.39 billion. The altcoin has increased by 12.32% in the past 24 hours and nearly 10% in the past 7 days. In the daily chart, the SUI token reveals a rounding-bottom reversal, nearing the neckline at $2.
Furthermore, the bullish crossover in the 50-day and 200-day EMA, along with the positive crossover in the MACD and signal line, bolstered the chances of an uptrend continuation. Based on the Fibonacci levels, the neckline of the rounding-bottom reversal aligns with the $2 psychological mark and the 100-day Fibonacci level.
A rounding-bottom breakout rally is likely to hit the $2 psychological mark or the 1.618 Fibonacci level.
Notcoin (NOT)
Notcoin has a market cap of $833 million and is trading at $0.008135. With a price jump of 12% in the past 24 hours, the altcoin is making a comeback. In the daily chart, the Notcoin reveals a falling-wedge pattern breakout, gaining momentum after a post-retest reversal.
Currently, the altcoin is heading to challenge the 50-day EMA near the $0.008718. This marks the intraday gain of 5.17%, a second consecutive bullish candle of years. Furthermore, the MACD and signal line are giving a positive crossover, increasing the upside chances.
Based on the Fibonacci levels, the upcoming price targets for Notcoin stands at $0.010 and the 50% Fibonacci level at $0.01492. Amid the October rally, the Notcoin is likely to hit the pinnacle of the falling-wedge pattern near $0.022.
Check out Coinpedia’s SUI price prediction to learn about the rising Solana competitor’s price targets in 2024.
EigenLayer (EIGEN)
In the past 24 hours, the Eigen layer’s EIGEN token has increased by 10.50%. Currently, the token is trading at $3.41 and has a market cap of $637 million. With limited price action, the 4-hour price trend reveals a consolidation, teasing a double-bottom reversal.
Furthermore, the short-term falling wedge breakout rally is gaining momentum but struggles to surpass the 23.60% Fibonacci level at $3.5771. Currently, the sideways continuation between the $3.00 and $3.50 mark and a bullish or bearish breakout of the consolidation range will determine the future price trend of the altcoin.
On the downside, the lack of price action puts the $2.50 and $2.00 psychological markers for potential support. Meanwhile, the Fibonacci level paints the bullish target at $4.16 and $4.80, aligning with the 50% and 78.60% Fibonacci levels.
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