Altcoin Analysis for October 2024: Top 3 Hidden Gem Picks

Altcoin Analysis: Key Opportunities

October is historically a bullish month for the crypto market. Because of this, investors might be on the lookout for hidden gem altcoins that could bring significant gains. These lesser-known cryptocurrencies sometimes have strong fundamentals and increasing community support, which could make them worth monitoring. As such, this analysis uncovers three under-the-radar altcoins that show promising signs of a major pump in October.

Echelon Prime (PRIME)

PRIME, the native token of the decentralized finance and gaming web3 project, tops this list. One reason for its inclusion is the assertion that gaming tokens could be one of the trending narratives next month and throughout the rest of the year. Built on the Ethereum blockchain, PRIME’s price has increased by 35.39% in the last 30 days, with the most gains coming from the recent token unlock.

• On the daily chart, PRIME’s price jumped above $12 on September 28.
• This surge could be attributed to the breakout from the descending triangle, due to the formation of lower highs and a horizontal support level.
• Currently, at $10.20, the Money Flow Index indicates substantial capital flowing into the altcoin.

If momentum continues, PRIME's value might surge by 70% in October, potentially reaching $17.25 before the month ends. However, if it drops below $10.17, significant downturns could occur.

Celo (CELO)

Ranked 159th in market capitalization, Celo focuses on real-world stablecoin utility. On September 25, Vitalik Buterin praised Celo for its performance surpassing Tron.

• With support from digital asset management firm Grayscale, CELO is expected to perform well in the year’s last quarter.
• CELO's price climbed over 50% following an inverse head and shoulder formation.

If validated, CELO might increase by nearly 36% to $0.87 in October. Conversely, slipping below $0.60 could end the month negatively for CELO.

Aethir (ATH)

Aethir enhances AI chip distribution as a Decentralized Physical Infrastructure Network (DePIN) project. Notably, Arthur Hayes recently favored ATH over other altcoins.

• His shift aligns with ATH's bullish trend, affirmed by the recent crossing of the 20-day EMA over the 50 EMA.
• Despite some price decline, the *Golden Cross* indicates ATH could rise towards $0.090.

However, if the market shifts against it, ATH’s price could drop to $0.053.