DOT, LINK, etc. are some of the top 5 crypto assets to buy in October or at least the ones you should watch this month. Why? Keep reading!
Which Crypto to Buy in October 2021?
After the not so good month of September, all of us are expecting some returns in the month of October. Moreover, since most of the analysts and experts believe that the present market cycle resembles that of 2017, the bull market is nowhere to be ending any time soon. However, keeping a short term target in perspective, below are the five best cryptocurrencies you should look out for in October 2021.
DOT (Polkadot)
We’ve been observing stagnant growth in the price of DOT, and the Kusama-Polkadot Parachain auction is further expected to fuel its prices upward. However, it is highly anticipated that we might observe a new ATH of DOT in October or November 2021.
As of the present market scenario, DOT is currently rejecting the strong resistance zone. Further, it is holding above the strong support, which is also acting as a resistance. So now, if we observe the previous price action, it’s essential to take entry in the DOT after breaking the descending resistance trendline.
The below chart clearly depicts the accumulation zone for long term hodlers, the present resistance/ support zone, and the strong resistance zone. Therefore, it would be a good choice to wait for a breakout of the present resistance and successful retest and only then enter the market.
Now you can trade DOT using the Free GRID bot at Pionex, so even if the market takes a dip you’re still keeping your profits!
LIT (Litentry)
Litentry is a network-agnostic decentralised identity aggregation protocol with a Distributed Identity (DID) indexing mechanism and a Substrate-based credit computation network. Litentry’s native utility token, LIT, has the following applications: Fees are paid in LIT each time a user requests a network-based real-time credit computation.
The LIT token has just broken out the falling wedge pattern and, with a successful retest, might observe some decent gains. Further, as we can see the projected movement of the coin in the chart below, it is evident that the coin made to our list of cryptos to buy in October.
Now you can trade LIT using the Free GRID bot at Pionex, so even if the market takes a dip you’re still keeping your profits!
FTM (Fantom)
Fantom is developing a programmable platform based on a distributed ledger-based on directed acyclic graphs.
As we can see in the chart below, FTM did a breakout of an ascending triangle and is presently retesting. Further, the price action of the project is very good, and we will most probably see an upward trend after the successful retest.
You can trade FTM or the Fantom crypto on the FTX exchange with a 5% trading fee discount.
LINK (Chainlink)
With BTC gearing up and starting the GreenTocber, all other alts are breaking their previous resistance levels. Further, Chainlink has been waiting for one such break in the price movement.
According to the chart below, Chainlink broke out of a falling wedge pattern and presently holds good support. Further, it is an excellent project for the long term, and we are most probably going to see some tremendous gains in its price.
Automate your crypto LINK Crypto trading using the Free GRID bot at Pionex, so even if the market takes a dip you’re still keeping your profits!
Now you can trade LIT using the Free GRID bot at Pionex, so even if the market takes a dip you’re still keeping your profits!
XRP (Ripple)
XRP has seen outstanding gains in the previous bull run. Further, even though the project founders own approximately 60% of XRP, it is performing exceptionally well. And it’s going to be further exciting!
According to the chart below, XRP has formed out of the double bottom pattern and got pumped. As you can see, the market is currently consolidating where the volume is low. However, after the said breakout, we might be able to see some good gains in the coin.
Closing Thoughts
The most important part about trading is discipline and patience. So, according to the above analysis, the coins we just spoke about might see some decent gains. Again, it’s your hard-earned money you’ll be investing, so Do your own research before investing.
Nothing in this article is financial advice, and moreover, you should only invest in the market you believe is good for your portfolio.
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