📌 Major Events in October (UTC) 📌
Economic Events
* 09/10: FOMC Meeting Minutes – 6 pm
* 10/10: CPI – 12:30 pm
* 11/10: PPI – 12:30 pm
* 17/10: Core Retail Sales – 12:30 pm
* 29/10: CB Consumer Confidence – 2 pm
Crypto Events
– **03/10** Binance removes seed tags for $SEI and $PENDLE.
$SUI unlocks $143M, the price has hit key resistance at $1.9. Watch for a breakout above this level for potential swing trades.
$IMX unlocks $51M, currently at support around $1.5. A confirmation of bullish action here could signal a good entry point. If the price dips, support is expected around $1.2.
– **06/10** Launch of $NAKA Nakamoto Games V2 Player
– **07/10** FTX Court hearing.
$NEON unlocks $18M, not enough chart data suggests potential support at $0.3-$0.315 for entry.
– **08/10** $EIGEN unlocks $39M, strong fundamentals and tokenomics point to a possible future FDV of $20B. Prices below $4-$5 could be a good buying opportunity.
– **09/10** $STX hardfork, No action is required from users/holders
Babylon BTC staking cap 2
– **10/10** Snapshot for the $CHZ meme token $PEPPER airdrop.
– **11/10** $APT unlocks $85M; support holding as expected. A breakout through $8.6 could push the price higher, with the next resistance at $9.5
Release of $SWELL airdrop checker.
– **13/10** Voting on $ZIL halving for Zilliqa.
– **14/10** Babylon mainnet update
$TAIKO unlocks $20M – currently sitting at major support. If it bounces off it, I’ll consider a swing position and will exit before the unlock. For now I’m watching price action
– **15/10** $DUSK mainnet launch.
debridge airdrop.
$STRK unlocks $24M – currently sitting at major support in the $0.35-$0.30 area, and I don’t think this unlock will affect the price.
– **16/10** $AVAX Avalucnche summit.
$ARB unlocks $50M – major support at $0.47 – 0.5 area, near the ATL level, seems this unlock is already priced in.
– **17/10** Debridge TGE.
– **18/10** Deadline for Walletconnect $WCT airdrop registration.
– **19/10** India Blockchain Summit.
– **21/10** $WLD Worldchain release in the superchains ecosystem
– **30/10** $TIA huge unlock $900M – sitting at major support and might confirm bullish pattern, watch for a breakout above $6 or potential entry if prices reach $3.5-$3.3
$LINK Chainlink SmartCon
Expected
– Fractal Mainnet and TGE
– $SCROLL airdrop TGE
– $SWELL airdrop and TGE
– $ZORA airdrop details
– Migration from RNDR to RENDER.
Market Overview:
In last month’s analysis we noted the high probability of rate cuts, which indeed led to a bullish September thie time. With two more cuts are anticipated on November 7th and December 18th which supports a positive outlook,
Another two reductions with at least 50 points is expected, totaling another potential 100 points by the end of 2024, add to that we are near the US election which is usually bullish.
The market is experiencing a little dip due to the situation in the Middle East, which has historically been a temporary dip. Unless there’s a serious escalation this time, it could result in a deeper dip followed by a big bounce at the end.
$TOTAL: Still moving and forming a bullish pattern, with major support in the $1.9-$2T area.
$DXY: Currently moving in a bearish pattern but bouncing off a support level which could end up as a retest before a continuation to the downside.
$SPX: Still making new highs and confirmed a major breakout several days ago.
Currently, the value of the USD is declining along with interest rates, while other assets are rising. Investors may see this as an opportunity to withdraw their money from safe accounts and invest it in riskier assets like cryptocurrencies.
Written by. Rema, NFA