Despite a rocky start to October, various segments of the cryptocurrency market are beginning to recover. Traders are now focusing on several altcoins that are approaching record high levels, as positive momentum builds with the month nearing its conclusion.
Bitcoin maintains a stable position above critical support levels, while three specific altcoins are exhibiting strong breakout patterns, supported by improving technical indicators. If the overall market continues to show strength, these tokens may soon reach new highs.
OG Fan Token (OG)
The OG Fan Token (OG), associated with the OG Esports team on the Socios platform, is displaying a robust technical setup on its daily chart. The token is currently forming a flag and pole pattern, which is typically regarded as a continuation signal following a significant price increase. Presently, OG is trading close to the upper trendline of this pattern, around $17.64, with a breakout above $18.04 potentially signaling the start of a new upward movement.
At this moment, OG is approximately 29% lower than its all-time high of $24.78, indicating there is sufficient opportunity for a rebound if momentum builds. A confirmed breakout could drive the price towards $26.14, exceeding its previous peak. However, the token must first overcome important resistance levels at $19.30, $21.43, and $22.70, which coincide with past swing highs and Fibonacci extension areas. Conversely, a daily close below $16.59 could weaken this bullish scenario, delaying or undermining the potential upward trend.
TRON (TRX)
TRON (TRX) is demonstrating considerable promise among altcoins that are eyeing all-time highs, continuing a steady uptrend that has persisted throughout the year. The daily chart shows TRX trading within a symmetrical triangle, recently finding support at its lower trendline and making a significant rebound. Moreover, the token has successfully converted a vital resistance level of $0.31 into support, signaling a return of momentum to the market.
From mid-July to mid-October, TRX’s price has consistently made higher lows, while the Relative Strength Index (RSI) — an indicator that assesses whether an asset is overbought or oversold — has recorded lower lows. This divergence typically indicates that an existing uptrend is likely to extend and suggests that bullish momentum may be building beneath the surface. To maintain its bullish trajectory, TRX now needs to breach the resistance levels at $0.33 and $0.34. A successful move past $0.35 would confirm a breakout from the upper trendline, paving the way for a potential rally towards $0.44, surpassing its previous all-time high of $0.43. Presently, TRX is about 25% below this mark, leaving room for recovery if buying interest persists.
The recent formation of three consecutive bullish candles reinforces this positive outlook, indicating that bullish sentiment may be re-emerging. However, a daily close below $0.31 could jeopardize this setup and hinder the pursuit of a new high.
BNB (BNB)
Among major altcoins poised to reach all-time high levels, BNB is distinguished by one of the most promising technical setups as the fourth week of October approaches. The token has recently broken out of a falling wedge pattern, which is a bullish reversal formation that often signifies the conclusion of a downtrend. Although the lower trendline had only two touchpoints, making it a less robust support zone, the upper trendline has remained firm and now acts as a reliable indicator for potential breakouts.
BNB is currently trading around $1,140, having transformed the $1,135 resistance level into support, demonstrating early signs of strength in its movement. For BNB to further its recovery, it needs to surpass the significant resistance zone at $1,321. Achieving this could open the door to upside targets of $1,402 and $1,506, potentially pushing the token beyond its previous all-time high of $1,369. Presently, BNB is about 17% below this peak, allowing room for a significant upward movement if buying pressure intensifies. However, a decline below $1,021 could undermine this pattern and possibly lead to a more extensive correction towards $891.
