Bitcoin has historically rallied in October, which could benefit altcoins such as MKR, AAVE, RUNE, and INJ.
Bitcoin experienced an 11% decline in the third quarter of 2023 but had a positive monthly close in September.
October has a bullish track record for Bitcoin, with only 2014 and 2018 producing negative monthly returns since 2013.
Altcoins are showing strength and attempting to break above resistance levels.
Bitcoin’s recent strength has boosted interest in altcoins.
Bitcoin’s price analysis suggests that it is gradually tilting in favor of buyers, with a potential break above $27,500.
MKR’s price analysis indicates the start of a new uptrend, with potential rallies to $1,760 and $1,909.
AAVE is trying to break above its long-term downtrend line, indicating a potential trend change and a possible rise to $88.
RUNE has reached overhead resistance at $2 and could rally to $2.28 and $2.78 if it maintains its current level.
INJ has been swinging inside a range between $5.40 and $10, with potential rallies to $8.28 and $10 if it overcomes resistance.
Summary:
– Bitcoin tends to rally in October, which could benefit altcoins.
– Bitcoin had a positive monthly close in September, the first since 2016.
– Altcoins such as MKR, AAVE, RUNE, and INJ are showing strength and attempting to break above resistance levels.
– Bitcoin’s price analysis suggests a potential break above $27,500.
– MKR’s price analysis indicates the start of a new uptrend with potential rallies to $1,760 and $1,909.
– AAVE is trying to break above its long-term downtrend line with a possible rise to $88.
– RUNE has reached overhead resistance at $2 and could rally to $2.28 and $2.78.
– INJ has been swinging inside a range between $5.40 and $10, with potential rallies to $8.28 and $10.
