Injective (INJ), OKB, and TON are poised for all-time highs in the crypto market. September was a relatively neutral month, but October is shaping up to be more positive for these altcoins. Here’s a closer look at each one:
Injective (INJ):
– The INJ price has been on an upward trend since the beginning of the year, breaking a descending resistance trendline and reaching a new yearly high of $9.97 in April.
– Currently, the price is consolidating inside a symmetrical triangle, which is considered a neutral pattern. However, given that the triangle follows an upward movement, an eventual breakout is expected.
– The Elliott Wave count supports continued increase, with the INJ price approaching the end of the fourth wave before the fifth and final increase.
– Using Fib projections to measure the length of waves one and three, it is projected that wave five could take the INJ price to a new all-time high of $25, a 250% increase from the current price.
– A breakdown from the triangle’s support line at $6.50 would invalidate this bullish prediction, potentially causing a 40% fall to $4.25.
OKB:
– The OKB price movement is similar to INJ’s, with a symmetrical triangle indicating wave four of a five-wave upward movement.
– Like Injective, a breakout from the triangle is the most likely future outcome, and the next potential top area could be at $72.
– This target is projected by measuring the triangle’s length to the breakout level and using the 1.61 external Fib retracement of the most recent decrease, representing a 67% increase from the current price.
– However, a breakdown from the triangle would invalidate this prediction, potentially resulting in a 50% fall to $21.
TON:
– The TON price had been under a descending resistance trendline since the beginning of the year before breaking out in September and reaching a high of $2.60.
– If the increase continues, the 1.61 Fib extension of the most recent decrease is projected at $4.08, just below the all-time high of $4.90.
– Alternatively, if the rally loses momentum, TON could decrease by 27.50% to reach the descending resistance line at $1.60.
Overall, these altcoins show bullish formations and have the potential to hit new all-time highs, but their performance will depend on various factors and market conditions. Investors should carefully consider these possibilities before making any decisions.
Disclaimer: This article is for informational purposes only and is not intended as financial advice.
