We did not see a significant increase in BTC price in the first week of October. However, there were exceptions among altcoins. Regardless of the market conditions, we see altcoins that are positively diverging. These altcoins experience increases due to news-focused or long-term trend breaks. So, what are the expectations for the best altcoins of the week?
In the past week, as the BTC price struggled to surpass $28,500, we mostly observed sideways movements. Nevertheless, it was a positive development for the BTC price to remain largely stable while the stock markets had a negative week.
There were also altcoins that diverged positively during this period. Binance-supported TWT Coin was one of them. The price of Trust Wallet Token formed a clear double bottom formation, which is often associated with reversal turns after continuous downtrends, within the last four months.
The price, which increased by over 30% in two weeks, recovered from $0.75. Currently, the price remains below the neckline at $0.99. If it can close above this level, it could rise to $1.35. On the other hand, there is a potential for it to return to its starting point in the opposite scenario.
The Nvidia rally worked wonders for RNDR. Earlier this year, the team announced that it would update the fee mechanism to increase the token price. They clearly achieved the result of this move. After jumping 44% from the $1.2 region, the GPU provider reached $1.8. The price has now retraced slightly from its peak.
The price of RNDR coin indicates the formation of a cup and handle pattern. If the bulls continue to stay strong, we may see the price rise to $2.7. This represents an increase of approximately 50%.
Bitcoin SV was one of the forgotten forks, like BCH Coin. In fact, months ago, Vitalik Buterin shared his disappointment about these forks with his followers. Following the recovery of BCH Coin with the news of Fidelity-backed EDX Markets, there are signs of revival in the BSV price as well.
The BSV price is struggling to hold the $34.99 region. If the upward momentum continues at this support level, a reversal of the downtrend can be seen with closings above $50. The next target would be $56.