Top 3 ‘Hidden Altcoins’ That Could Surge in October

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BeInCrypto Korea
09-30
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October is historically a bullish month for the cryptocurrency market. As a result, investors may be looking for hidden gem altcoins that could potentially bring substantial returns. These lesser-known cryptocurrencies can sometimes show strong fundamentals and increasing community support, making them worth monitoring. Accordingly, this analysis uncovers three radar altcoins that could see significant upside in October. Echelon Prime (PRIME) PRIME is the native token of a decentralized finance and Web3 gaming project, and it tops this list of altcoins. One of the reasons it is included is the argument that game tokens could be one of the narratives that could gain traction in the coming month and the rest of the year. The price of PRIME, built on the Ethereum blockchain, has increased by 35.39% over the past 30 days, with the most significant gains stemming from a recent token unlock. Additionally, looking at the addresses by time held, many investors who have held the token for the past month to 365 days appear to be refraining from selling. This suggests a high conviction in PRIME's short-term to long-term potential and indicates that PRIME may not experience a significant price correction. In the daily chart, PRIME's price has surpassed $12 on September 28th. This rise could be due to the formation of a lower high and a horizontal support line as it broke out of a descending triangle. PRIME's price has since pulled back to $10.20. However, the Money Flow Index (MFI) still indicates that substantial capital is flowing into the altcoin. Consequently, a significant rebound from the current price levels could occur. If this scenario unfolds, PRIME's value could surge by 70% in October, reaching $17.25 by the end of the month. On the other hand, if the altcoin's price falls below $10.17, it could experience a notable decline, potentially dropping to $8.07. Celo (CELO) Celo is the 159th most valuable cryptocurrency by market capitalization. Built on Ethereum, it focuses on real-world stablecoin utilities. On September 25th, Ethereum co-founder Vitalik Buterin praised Celo for surpassing TRON in stablecoin activity. This development suggests improved user engagement in Ethereum Layer-2 projects. Additionally, digital asset management firm Grayscale has included CELO in its list of altcoins expected to perform well in the final quarter of this year. According to the daily chart, CELO's price has surged by over 50% in just two weeks after forming an inverse head and shoulders pattern. This technical pattern indicates a transition from a downtrend to an uptrend and often leads to remarkable price increases. Currently, CELO's price is at $0.64. However, this pullback could be a temporary dip, and a rebound is likely to occur in the next few days. Once confirmed, CELO could increase by nearly 36%, reaching $0.87 in October. However, if CELO's price falls below $0.60, it could record losses for the month. Aethir (ATH) Aethir, a decentralized physical infrastructure network (DePIN) project, is enhancing the distribution of AI chips. Due to its structure, ATH is also a gaming token, further reinforcing the concept that AI tokens and gaming altcoins could perform well in October. Interestingly, former BitMEX CEO Arthur Hayes appears to have similar convictions, as he has sold other altcoins and purchased tokens like ATH. According to the daily chart, the 20-day Exponential Moving Average (EMA) - the blue line - has just crossed above the 50 EMA (yellow), indicating a bullish trend. EMA measures the direction of the trend, and when the longer EMA crosses above the shorter one, the trend is considered bullish. Currently, ATH is trading at $0.065, and the altcoin's trend is in an upward direction. Despite the recent pullback, the formation of the golden cross suggests that ATH's price could recover northward. If this occurs, ATH could rise to $0.090 next month. Conversely, if the 50 EMA crosses back above the 20 EMA, Aethir's price could decrease to $0.053, invalidating the bullish projection.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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