This article takes a look at 10 altcoins that had interesting developments in October and could also have a positive effect on their prices.
Fetch.AI is a blockchain platform for artificial intelligence. This platform was created to provide the necessary infrastructure. In doing so, you contribute to the development of a digital, decentralized economy.
Fetch.AI is based on a fractional ledger. It is able to deploy using artificial intelligence and machine learning (a subset of AI) solutions.
The native FET token is an important part of smart contracts in the network. Tokens are also very compatible with IoT devices.
October will likely be an exciting month for the platform as the existing bridge will be replaced with a new and improved bridge. “Gravity bridge“.
This is the final step in the staking process that allows users to wager over 250 million tokens.
While the FET hit an all-time high of $ 1,198 on September 8, it has declined steadily since then. So far it’s down 38.57%.
On September 22nd, it bounced off the horizontal support area of $ 0.59 (green symbol). However, despite the recovery, the technical indicators are still falling as both the MACD and RSI are falling. In addition, the FET appears to be moving along the descending resistance line.
A break above this line means the token is moving up and is likely to retest the highs near $ 1.
Daily FET / USDT Chart | Source: Tradingview
Zcash is a decentralized cryptocurrency that was released in October 2016 and is mainly focused on anonymity and privacy. In contrast to most other cryptocurrencies, ZEC is completely anonymous. This means that the identity and public address of the user will not be revealed. This is done with the zero-knowledge-proof technology from zk-SNARK.
The release Halo Arc October 1st also coincides with the activation of the annual network upgrade.
It will contain:
ZEC has been falling along with a descending wedge since September 29th. The wedge is viewed as a bullish pattern.
Currently, the token is nearing the point of convergence between resistance and support where a crucial move will take place.
If a breakout does occur, the next resistance area is between $ 138 and $ 147.
Daily ZEC / USDT Chart | Source: Tradingview
Origin Protocol is a network that aims to create a decentralized marketplace where subscribers can share both goods and services. As a decentralized platform that excludes middlemen, they offer:
The platform’s native token is OGN. It is used for administrative rights and owners are rewarded based on the network’s profits.
On October 1st, there will be four NFTs distribution for OGN holders. This is the result of a partnership between Origin Protocol and CREAM Finance.
As of May 25, OGN has been trading in a range of $ 0.58 to $ 1.40. It was last rejected by the USD 1.40 (red symbol) resistance on September 6th and has been falling since then.
The MACD and RSI are both falling, suggesting that the OGN is likely to move back into the $ 0.58 zone.
Daily OGN / USDT chart | Source: Tradingview
Bluzelle is a completely decentralized storage network. Their goal is to protect the intellectual rights of content creators while providing a highly secure storage system. It is dedicated to the NFT and DeFi sector.
The system works by storing backups in multiple nodes, which also speeds up access.
The network’s native token is BLZ.
In October the new investigation upgrade begin and there will be more seed nodes.
Much like ZEC, BLZ appears to be trading in a descending wedge that is believed to be a bullish pattern. Most recently, the price bounced off the pattern’s support line on September 21st (green icon). This is also in line with the $ 0.193 horizontal support area.
When a breakout occurs, the closest resistance is at $ 0.27. This is the 0.618 fib retracement resistance.
BZL / USDT 6-hour chart | Source: Tradingview
Harmony is a sharding protocol with a trusted Ethereum bridge. It was one of the first blockchain protocols to introduce sharding to drastically reduce the time it takes to validate a node. Validators and nodes are randomly sharded / re-sharded to increase security.
The platform specializes in the creation of decentralized applications (dApps). The platform’s native token is ONE.
Harmony starts in October Cross-Shard Transactions, was developed last year.
ONE has been down since September 13 when it hit a new all-time high of $ 0.23. While this move initially looked like a breakout, it turned out to be a deviation above the $ 0.21 resistance area.
So far, the token has fallen 37%.
Despite the decline, the price bounced off an ascending support line that has existed since July 20th (green symbol).
As long as the price trades above this line, the bullish structure remains intact.
Daily ONE / USDT chart | Source: Tradingview
Octopus Network is a decentralized network that starts and executes Web3.0 applications on sub-blockchains or app chains on a native blockchain, the NEAR protocol.
Octopus is a Layer 2 solution for infrastructure parts and dApp management in the hands of developers by allowing dApp developers to publish app chains for control themselves.
On October 8th, the platform debut mainet and start my first app chain. Users can add OCT to the app chain to get tokens back from the project, such as Crowdloan in Kusama’s Parachain auction.
OCT is currently trading at $ 3, down 24% from its recent high of $ 3.95.
OCT / USDT 4-hour chart | Source: Tradingview
Morpheus Labs is a blockchain platform that specializes in dApp development. It offers various programming languages for users in developing blockchain applications.
The platform’s native token if MITX. You will burn 5 million tokens according to the calendar on October 4th. This is the fifth and final burning of the year.
However, MITX appears to be trading in an ascending channel and has been trading since May 19th. Such channels often contain corrective movements.
Also, the movement in it was extremely slow and bobbing, which suggested that something might go wrong.
Daily MITX / USDT Chart | Source: Tradingview
Bella Protocol is a platform that offers various DeFi products that simplify crypto banking. It offers access with the best return on the market. The platform’s native token is BEL.
Its three main products are:
One conference The international summit on the crypto industry will take place from October 11th to 15th. The Bella Protocol CEO will be one of the keynote speakers at this conference.
However, BEL has been falling since September 4th and broke below the rising support line on September 20th. It is currently approaching the USD 1.17 support area.
Daily BEL / USDT chart | Source: Tradingview
Polygon is a platform used to develop Ethereum’s infrastructure by transforming it into a multi-chain system. Thus, it helps to connect blockchain networks that are compatible with Ethereum. The platform introduced in 2017 and its native token is MATIC.
The world blockchain summit will be occur in Dubai from October 13th to 14th. One of the keynote speakers was Polygon co-founder Sandeep Nailwal.
MATIC has been trading within a descending wedge since September 5th. On September 21, it bounced off the wedge support line and the $ 1.06 support area. It then made a false bottom and was about to break out.
When it breaks out, the next resistance will be at $ 1.48.
MATIC / USDT daily chart | Source: Tradingview
Celsius is a platform that provides banking and financial services to cryptocurrency users. It was launched in 2018 and offers many services such as lending, staking, and paying interest up to 17% to its users. The platform’s native token is CEL, which complements the above payments when used as currency.
The world blockchain summit will be occur in Dubai from October 13th to 14th. One of the keynote speakers was Celsius founder and CEO Alex Mashinsky.
In terms of its price action, CEL has been trading in a large symmetrical triangle since late January.
Daily CEL / USDT Chart | Source: Tradingview
You can see the coin prices here.
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Disclaimer: This article is for informational purposes only, not investment advice. Top house …
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