With bullish anticipations in the crypto market rising at the start of October, altcoins are starting to shine. The increased demand amid the historic pattern of bullish Q4 in Bitcoin Halving years anticipates a new bull cycle this year-end.
Curious about which altcoins to buy before the October bull run begins? Find out now in Coinpedia’s technical picks for the 2024 October rally.
The EigenUSDT futures pair reveals a cup-and-handle pattern breakout in the daily chart. With the sudden surge in bullish demand with the listing over Binance, Kucoin, Coinbase, and other major exchanges, EigenLayer is the top trending token in the crypto market.
Currently, the daily futures contract chart reveals a massive bullish engulfing candle ready to surpass the $4.16 resistance level. This aligns with the 23.60% trend-based Fibonacci level in the daily chart.
Furthermore, the Eigen token reveals a sideways shift following the cup-and-handle pattern breakout between $3.760 and $4.16. The consolidation range breakout between the two crucial levels will determine the upcoming price trend.
Supporting the possibility of a bullish outcome, the MACD indicator shows a bullish crossover with a surge in positive histograms. Currently, the altcoin is trading at $4.284, increasing the likelihood of a bullish closing.
An uptrend continuation will likely target the $5.270 and $5.77 Fibonacci levels at 78.60% and 100% Fibonacci levels. Furthermore, an uptrend continuation if the listing gain continues could target the $7.533 or the 1.618 Fibonacci level.
Another top-performing trending token ready for the October Rally is the BEAM token. BEAM token in the daily chart shows a double bottom reversal from the baseline at $0.01125.
In the ongoing bull cycle, it has increased by 72% in the past 23 days. The recovery run breaks the neckline at the 38.20% Fibonacci level at $0.01682. Currently, the altcoin is trading near the $0.020 psychological mark with an intraday gain of 4.90%.
This surpasses the 50% Fibonacci level and is ready to challenge the 61.80% level at $0.02156. As the uptrend gains momentum, the 50-day and 100-day EMA are ready for a bullish crossover.
Furthermore, the MACD and signal lines maintain a positive trend with a gradual intensity of positive histograms. If the bullish trend continues, the BEAM token is likely to complete a rounding bottom reversal with the neckline at $0.03233.
Based on the Fibonacci level, the upside target of the rounding bottom breakout rally stands at $0.04291 and $0.06175.
Recently, the SUI network has hit the $1B mark in the total volume logged. With the sudden surge in the network health, the altcoin is close to approaching the $2 psychological mark.
Currently, it is trading at $1.86 and has given a massive hit of 250% within the last two months. The bullish cycle produces a golden cross between the 50 and 200-day EMA.
The recovery rally will challenge the $2 psychological mark to complete the rounding-bottom reversal. The potential target for the rounding-bottom reversal breakout rally is $4.80 at the 1.618 Fibonacci level.
Check out Coinpedia’s SUI price prediction to learn about the rising Solana competitor.
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