The recent performance of some cryptocurrencies has been encouraging, with many of them showing higher lows and sustained upward trends throughout September. Among these, PENDLE stands out as it has been on an upward trajectory since hitting a low of $1.78 on August 4, approaching its previous all-time high of $7.54 in April. The 3-day RSI for PENDLE has broken out above 50, indicating a potential price breakout and clearing of its descending resistance trend line, with a target of $11.10 based on the 1.61 external Fibonacci retracement.
Another token, SUI, saw a breakout from a descending parallel channel in August and has been steadily increasing, aiming to surpass its previous all-time high of $2.18. Despite being overbought, the RSI and MACD for SUI are showing continuous upward momentum without any bearish divergence, potentially leading the price to reach $3.25 based on the 1.61 Fibonacci retracement level.
ARKM has experienced a similar bullish trend, breaking out from a descending resistance trend line in August and showing signs of an impending increase towards its next resistance level at $2.65. The bullish divergence in the 3-day RSI before the breakout further supports the notion that the correction phase is over and that ARKM could be on its way to a new all-time high.
Lastly, TRAC has followed a path similar to other cryptocurrencies like CELO and ARKM, with a decline since its yearly high in March but showing potential for a breakout from the descending parallel channel. The movements of TRAC closely mirror those of other tokens that have experienced bullish reversals, with a breakout from a channel indicating a possible upward trajectory towards the resistance levels between $1-1.13 and a high of $1.54.
Overall, the mentioned cryptocurrencies, PENDLE, SUI, ARKM, and TRAC, are all displaying positive indications for price increases and bullish trend reversals in October. These developments suggest that these tokens may reach new all-time highs, presenting an optimistic outlook for the cryptocurrency market in the upcoming month.