In this article, we will take a look at ten cryptocurrencies that have interesting developments for the month of October, which could potentially have an effect on their price.
- Current price: $ 0.735
- Market capitalization: $ 548 million
- Market Cap Rank: # 121
Fetch.aI is a blockchain platform that uses both machine learning and artificial intelligence technology. It is built on a fragmented ledger.
The platform’s native token is FET, which is of crucial importance for the use of smart contracts. The token is also very compatible with IoT devices.
October will probably be an interesting month for the platform, as the current bridge will be replaced by the new and improved “Gravity Bridge”.
This is the last step in the wagering process, which will allow users to wager over 250 million tokens.
While FET hit an all-time high of $ 1.198 on September 8, it has been declining ever since. So far it has decreased by 38.57%.
On September 22, it bounced off the $ 0.59 horizontal support area (green icon). However, despite the rebound, technical indicators are still bearish, as both MACD and RSI are down. Additionally, FET appears to be following a descending resistance line.
A break of the line would likely mean that the token will move higher and potentially test highs near $ 1 again.
- Current price: $ 105.68
- Market capitalization: $ 1.348 billion
- Market Cap Rank: # 72
Zcash is a cryptocurrency created in October 2016. It mainly focuses on privacy and anonymity. It goes so far that it doesn’t even reveal the public address of their users. This is achieved using zk-SNARK zero-knowledge technology.
Halo Arc will be released on October 1. It will also coincide with the activation of Network Five Upgrade.
He will understand :
- Zcashd – A consensus node that supports the next upgrade
- ECC Reference Portfolio – a beta implementation of a Zcash wallet
The ZEC has been declining alongside a downward wedge since September 29. The wedge is considered a bullish pattern.
Currently, the token is approaching the point of convergence between resistance and support, at which point a decisive move is likely to occur.
If a breakout occurs, the closest resistance zone would be between $ 138 and $ 147.
Original Protocol (OGN)
- Current price: $ 0.724
- Market capitalization: $ 254,276 million
- Market Cap Rank: 173
Origin Protocol is a network that aims to create a decentralized marketplace in which participants can share both goods and services. Its objective as a decentralized platform is to eliminate intermediaries, in order to provide:
- Lower Fees – Fees significantly lower than those charged by intermediaries.
- Better incentives – Everyone owns a part of the network and the return is distributed to holders.
- Increased Access – Only a cryptocurrency wallet is required to access the market.
The platform’s native token is OGN. It is used for governance rights and its holders are rewarded based on the performance of the network.
On October 1, four non-fungible tokens (NFTs) will be distributed to OGN holders. It is the result of a partnership between Origin protocol and CREAM Finance.
As of May 25, OGN has been trading in a range between $ 0.58 and $ 1.40. More recently, it was rejected by the resistance of $ 1.40 on September 6 (red icon) and has been declining since.
Both the MACD and RSI are lower, suggesting that OGN is likely to move back into the $ 0.58 area once again.
- Current price: $ 0.20
- Market capitalization: $ 62,990 million
- Market Cap Rank: # 464
Bluzelle is a completely decentralized storage network. Its objective is to protect the intellectual rights of content creators while providing a high security storage system. It is specific to the NFT and Decentralized Finance (DeFi) sectors.
The system works by storing backups in many nodes, which in turn increases the speed of recovery.
The native network token is BLZ.
In October, the new census upgrade will be released and there will be the addition of seed nodes.
Like ZEC, BLZ appears to be trading inside a descending wedge, which is considered a bullish pattern. Most recently, it bounced off its support line on September 21 (green icon). This also coincided with the horizontal support area of $ 0.193.
If a breakout occurs, the next closest resistance would be $ 0.27. This is the 0.618 Fib retracement resistance level.
- Current price: $ 0.146
- Market capitalization: $ 1.565 billion
- Market Cap Rank: 63
Harmony is a partitioning protocol with a trustless Ethereum bridge. It is one of the first blockchain protocols to have introduced sharding in order to significantly reduce the validation time of a node. Validators and nodes go through a random assignment / reassignment process in order to increase security.
The platform is specialized in the creation of decentralized applications (dApps). The platform’s native token is ONE.
In October, Harmony will launch inter-shard transactions, which have been in development for the whole year.
ONE has been down since September 13, when it hit a new all-time high of $ 0.23. Although it initially appeared to be a breakout, it turned out to be only a spread above the resistance area of $ 0.21.
So far, the token has fallen 37%.
Despite the decline, it bounced off an ascending support line that has been in place since July 20 (green icon).
As long as it is trading above, the bullish structure remains intact.
Morpheus Laboratories (MITX)
- Current price: $ 0.046
- Market capitalization: $ 19,813 million
- Market Cap Rank: # 746
Morpheus Labs is a blockchain platform specializing in dApp development. It offers its users the choice between different programming languages when developing blockchain applications.
The platform’s native token if MITX. A token burn in which 5 million tokens will be burned scheduled for October 4. This is the fifth and last such burn for the year.
However, MITX appears to be trading inside an ascending channel since May 19th. Such channels usually contain corrective movements.
Additionally, movement inside has been extremely gradual and jerky, suggesting that a breakdown may be occurring.
Bella Protocol (BEL)
- Current price: $ 1.61
- Market capitalization: $ 77,175 million
- Market Cap Rank: 419
Bella Protocol is a platform that offers various DeFi products that help simplify cryptocurrency banking. It gives access to the best rates of return on the entire market. In addition, it offers zero gas fees in order to provide fee-free transactions. The platform’s native token is BEL.
Its three main products are:
- 1-Click Bella
- Bella ready
- Bella Flex Savings
An international summit for the cryptocurrency industry will take place October 11-15. The CEO of Protocol Bella will be one of the key players.
However, BEL has been declining since September 4 and collapsed from an ascending support line on September 20. It is currently approaching the support area of $ 1.17.
- Current price: $ 1.12
- Market capitalization: $ 11,184 billion
- Market Cap Rank: 21
Polygon is a platform that is used to expand into Ethereum’s infrastructure, transforming it into a multi-chain system. Therefore, it allows to connect blockchain networks compatible with Ethereum. The platform launched in 2017 and its native token is MATIC.
The World Blockchain Summit will take place in Dubai from October 13-14. One of the speakers will be Polygon co-founder Sandeep Nailwal.
MATIC has been trading inside a falling wedge since September 5th. On September 21, it rebounded at the wedge support line and $ 1.06 support area. Subsequently, he created a double bottom and is bursting.
If it does break out, the next resistance would be at $ 1.48.
- Current price: $ 5.02
- Market capitalization: $ 1,201 billion
- Market Cap Rank: 80
Celsius is a platform that offers financial and banking services to cryptocurrency users. It was launched in 2018 and offers many services, such as loans, staking, and interest payments of up to 17% to their users. The platform’s native token is the CEL, which further increases the aforementioned payouts if used as the currency of choice.
The World Blockchain Summit will take place in Dubai from October 13-14. One of the speakers will be Celsius Founder and CEO Alex Mashinsky.
As for its price movement, CEL has been trading inside a massive symmetrical triangle since late January.
Rocket Pool (RPL)
- Current price: $ 31.41
- Market capitalization: $ 322,875 million
- Market Cap Rank: # 235
Rocket Pool is a protocol that allows users to wager their Ethereum (ETH) in order to earn returns. Additionally, users who run their own nodes receive higher returns.
This Will throw its main network on October 6. The deployment will take place in four phases, each limiting the size of the ETH deposit pool.
The RPL / ETH pair has just exited above the 0.01 ETH resistance zone.
For the latest BeInCrypto Bitcoin Analysis (BTC), click here.
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