Key Points:
- Fueled by October’s positive market sentiment, BNB, SOL, and DOGE are showing promising momentum with potential upward targets of $1,480, $250, and $0.31, respectively.
- Failure to maintain current trendlines could lead to a correction for BNB, potentially dropping to $835.
Binance Coin (BNB), Solana (SOL), and Dogecoin (DOGE) all started October with gains, mirroring the overall positive trend in the cryptocurrency market as “Uptober” optimism grows.
Is there room for these major altcoins to climb even higher this month?
BNB Potential: Over 38% Increase Possible
BNB has seen a rise of almost 6% since the start of the month, reaching approximately $1,065 on Thursday.
This upward movement is part of a broader recovery that began after testing the 20-day exponential moving average (20-day EMA, represented by the green wave) around $1,000 as a support level. Historically, rebounds from this support have resulted in substantial gains.
BNB’s price increase has been occurring within an ascending channel pattern. If this trend continues, the token could potentially reach $1,130 in October, a 6.75% increase from its current price. This target aligns with the 1.618 Fibonacci retracement level.
Trader MisterSpread also projects this upside target, based on BNB’s developing inverse-head-and-shoulders (IH&S) pattern.
The recent rise in BNB’s price has also converted a key weekly resistance level, around $992, into a support level. This level also corresponds to its 1.618 Fibonacci retracement line.
If positive momentum remains above $992, BNB’s price could potentially test the 2.618 Fib line around $1,480 either in October or November. This represents a potential increase of 38.50% from the current price.
However, a drop below $992 could lead to a price decrease towards the 20-week EMA (the green wave) near $835, a 20.75% decrease from current levels.
SOL Price Poised to Reach $250
Solana has already increased by 9% in October, reaching about $227.50 on Thursday. Current indicators suggest a strong possibility of reaching $250 in the near future.
Related: SOL traders smash buy ahead of SEC Solana ETF decision: Is $250 back on the table?
SOL’s price has been on an upward trend within a rising wedge pattern since February 2025. Having rebounded from the lower trendline, it is aiming to retest the pattern’s upper trendline close to $250, a figure that matches the 0.786 Fib line.
Technical analysts generally view rising wedges as bearish reversal patterns. These patterns typically resolve when the price breaks below the lower trendline, resulting in a decline equal to the wedge’s maximum height.
This scenario presents SOL with a potential downside risk of 28–30% in the coming weeks, depending on where the breakdown occurs.
On the other hand, a decisive move above the wedge’s trendline would likely negate this bearish outlook, setting SOL on a path toward the $295-300 range, aligning with the 1.00 Fib level.
DOGE Exhibits Potential for a 20% Climb in October
Dogecoin has seen an increase of over 11% so far this month, and its current setup hints at a potential 20% increase in the coming days.
DOGE’s price is currently bouncing back from near the lower trendline of an ascending channel pattern, with the goal of reaching the upper boundary around $0.30–0.31. This level also lines up with the 0.5 Fibonacci retracement zone and has previously acted as a resistance point.
In contrast, a pullback below the 20-day EMA, which is around $0.25, may postpone the bullish outlook. If this happens, DOGE could fall back towards the channel’s lower trendline, near $0.22, which corresponds to the 0.236 Fib line.
As Cointelegraph reported, analysts suggest Dogecoin’s price could potentially reach as high as $1 in the coming months.
This analysis is for informational purposes only and should not be considered financial advice. Investing in cryptocurrencies involves risk, and it is crucial to conduct your own thorough research before making any investment decisions.