Bitcoin tends to rally in October, which could benefit altcoins like MKR, AAVE, RUNE, and INJ.
Bitcoin fell roughly 11% in Q3 2023 but had a positive monthly close in September.
CoinGlass data shows that October has a bullish track record for Bitcoin.
Altcoins are showing strength and trying to break above resistance levels.
Bitcoin’s relief rally to $28,000 could further boost altcoin momentum.
Bitcoin is trading above moving averages, indicating a positive sign for buyers.
MKR broke above $1,370, signaling a new uptrend.
AAVE is trying to break above the downtrend line, indicating a potential trend change.
RUNE has reached overhead resistance at $2, weakening it.
INJ has been swinging inside a range between $5.40 and $10, presenting trading opportunities.
Moving averages and RSI indicate bullish momentum for MKR, AAVE, and INJ.
Summary:
– Bitcoin tends to rally in October, benefiting altcoins.
– Altcoins like MKR, AAVE, RUNE, and INJ are showing strength and trying to break resistance levels.
– Bitcoin’s relief rally to $28,000 could further boost altcoin momentum.
– MKR broke above $1,370, signaling a new uptrend.
– AAVE is trying to break above the downtrend line, indicating a potential trend change.
– RUNE has reached overhead resistance at $2, weakening it.
– INJ has been swinging inside a range between $5.40 and $10, presenting trading opportunities.