The post Dymension and AltLayer: The Next Big Altcoins for Explosive October Gains appeared first on Coinpedia Fintech News
Amid the rising altcoins, the low-cap tokens are ready for a slingshot move as the influx grows in the crypto market. With the October rally ready to begin, the crypto market is on the lookout for the next big thing.
Based on the massive upside potential, Dymension and Altlayer, along with their powerful use case, can be the top names for this October. Learn more about Coinpedia’s next big altcoins in the crypto market.
Top Picks For The Next Big Altcoins:
Dymension (DYM)
Taking a sideways shift after a massive correction following the early 2024 bull run, the DYM token has fallen from $8.28 to a low of $0.96, accounting for almost a 90% drop. However, taking a bullish turnaround to reclaim the $11 psychological mark, the underlying dynamics of the DYM token are turning bullish.
In the daily chart, the DYM price action shows a symmetrical triangle pattern formation. Currently, the bull cycle in the altcoin is challenging the overhead trendline. However, it struggles to sustain dominance over the 100-day EMA.
The altcoin price faces higher price action while receiving support from the dynamic 50-day EMA. The DYM token is currently trading at $1.78 with an intraday gain of 2.88%.
Due to the increasing frequency of higher price action candles, a bear cycle is likely to occur. With the powerful use case, the DYM token’s dimension is ready for a bullish comeback. The triangle breakout rally could challenge the 50% Fibonacci level at $4.60 or the 78.60% level at $6.72.
Altlayer (ALT)
With a long-coming resistance trendline breakout, the ALT layer token is making a bullish comeback. The ALT token reveals a bullish surge in the daily chart, surpassing the 50-day EMA and the resistance trendline. Further, the uptrend teases a rounding bottom reversal.
Currently, the breakout rally struggles to surpass the 100-day EMA at $0.14. The ALT token is trading at $0.1368 with an intraday gain of 3.43% with a boost in trading volume. However, the higher price direction in the intraday candle limits the uptrend continuation above the dynamic resistance 100-day EMA.
Based on the Fibonacci levels, the trend reversal in the ALT token from the $0.073 support will face resistances at $0.21 and $0.30. However, the trendline breakout rally and the potential rounding bottom with a neckline at $0.36 teases an uptrend.
Considering the altcoin gains surge in the upcoming October rally, the potential target for the ALT token stands at $0.6659 at the 100% Fibonacci level and $1.618 at the $1.001 psychological mark. The ALT layer could be the next big altcoin in the crypto market.
Check out Coinpedia’s Bitcoin price prediction to learn about the biggest cryptocurrency, BTC price targets in 2024.
