[IBC Prediction Contest] Top 5 Altcoins for October
Disclaimer – This is not the official IBC list for October. In lieu of the contest, we will be launching our list on 11th October.
The fourth shortlisted list of Altcoins for our IBC prediction contest comes from Steven Huang from the USA. Go through it let us know what you think –
Technical Analysis: NEO has shown bullish divergence through lower low on RSI and higher lows on the price charts. This should help NEO breakout of the triangle and take it to further highs.
Sentimental Analysis: NEO got hit hard by the China ICO ban but has recovered strongly. This month has a lot of exciting events for NEO. NEO will have first ICO Red Pulse will be launched on October 8th and another ICO called Aphelion later in November. In addition, the NEO team will host multiple conferences in Asia this month and the cryptocurrency will be listed on the Korean exchange called Korbit on October 15th.
Technical Analysis: A symmetrical triangle has formed in the ETH-USD chart and a breakout is imminent.
Sentimental Analysis: Ethereum will be launching Byzantium upgrade on October 17th. Byzantium is the first step of Metropolis, a planned hardfork that will convert Ethereum from a POW to POS coin while upgrading the capability of the network. In addition, there is also always exciting new ICOs that are coming out every month such as Airswap, Request, and ICON. These ICOs will require Ethereum to participate.
Technical Analysis: Qtum has formed a bullish flagpole pennant. Breakout is imminent. Qtum can easily test pre-crash price levels due to bullish market sentiments.
Sentimental Analysis: Qtum is a business focused blockchain protocol that with DAAP and smart contract capabilities. It just had a token swap its token from ERC20 to its own Mainnet. Businesses such as Matchpool have already expressed interest in a partnership with Qtum via their twitter. There is also rumour of a Bithumb listing to come this month and I think the rumour will turn out to be true.
Technical Analysis: Bullish descending wedge pattern formed for MTL. The RSI is also very low right now indicating that it’s oversold. Metal has the conditions to swing upwards and breakout of the descending wedge.
Sentimental Analysis: Metal will be having their official alpha release at on October 30th. People will finally be able to have their own MTL account at the end of the month. As the public release date nears more teaser content and image should be released by the developer on their blog and twitter generating hype.
Technical Analysis: SYS lays dormant right now after having retraced significantly during the September crash. It has good conditions that can lead to a breakout and bull run.
Sentimental Analysis: SYS is the first decentralized blockchain marketplace. However, it is not too well known about. The company have decided to fix this problem by hiring Ballistic Arts, a professional marketing agency. SYS will be carrying out a rebranding campaign this month which will include a new website.
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