The failure to realize the expected rise in the crypto market in October 2024 and the uncertain market conditions require investors to be cautious. In particular, the Israel-Iran conflict and the downward trend in the market have created concerns among investors. In this context, investors may minimize their potential losses by disposing of certain altcoin projects. As we reported at Kriptokoin.com, although the crypto market has shown signs of recovery in recent weeks, there is a possibility of a long-term decline, especially in five cryptocurrencies.
Recommended Altcoins to Sell in October: Toncoin (TON) and Cardano (ADA)
Toncoin (TON),$TON
It stands out as a cryptocurrency associated with Telegram. However, over the past 100 days, its price has fallen by 35%, from $8.17 to $5.28. Since August, TON’s 24-hour active address count has decreased from 1,978 to 207, indicating that network activity is decreasing and the price could fall further. The Toncoin price could test the support at $4.6, which would mean an additional 13% drop.
Cardano (ADA)$ADA
, has been following a horizontal trend around the $3 support for the last two months. The symmetrical triangle formation formed during this process indicates that the current downtrend will continue. In addition, it is observed that large investors have reduced their ADA assets. The balance of wallets holding assets between 1 million and 10 million ADA decreased by 5%, from 12.86 billion ADA to 12.19 billion ADA. These sales indicate that ADA may lose more value.
Other Altcoins: Shiba Inu (SHIB) and Litecoin (LTC)
Shiba Inu (SHIB)$SHIB
, has struggled to break above the $0.00002 level since June 2024. The high supply at this level continues to keep the altcoin price under pressure. Currently trading at $0.000018, SHIB is likely to retest a key resistance level. However, considering that major investors have not increased their SHIB holdings, the upside potential of the price may remain limited.
Litecoin (LTC) has been trading sideways since March 2022. Its 30-day Market Value-to-Realized Value Ratio (MVRV) has risen to 27%, indicating that short-term investors are taking profits. Litecoin could test the $52 support by falling below $60.
Altcoin at the Bottom of the List: Worldcoin (WLD)
Finally, Worldcoin (WLD) rose to $2,385 after a sideways trend of $1.27, exceeding the $2,175 level. However, the supply of WLD has doubled on crypto exchanges, reaching 72.9 million coins. The increase in supply on exchanges could cause a possible sell-off and limit the price increase. Investors can closely monitor these cryptocurrencies and determine their strategies according to market conditions.