In Uptober, the month where the crypto market blooms, three tokens are doing exceptionally well and will keep this uptrend intact. OKB, XLM, and DOT are the tokens that have a lot of potential in the coming days.Â
OKB rises past $230, but the bulls aren’t done yet
OKB, the utility token of the Maltese exchange OKEx, spiked from $195 to $235 within the past week as the bulls dominated the market. The governance token, which grants user voting rights, was dominated by the bulls. At the time of writing, OKB is trading at $226 after gaining more than 18% during the past 7 days.
On the four-hour chart below, OKB is trading inside a bull flag, rebounding off the top and bottom trendlines. As OKB has reached the upper trendline of the bull flag, the token will ricochet off of it and head towards the lower trendline.
The Relative Strength Index (RSI) is almost at the verge of entering the overbought territory; therefore, a rebound is guaranteed. However, once the token completes the bull flag, it will break upwards and reach above $250, given that it spiked by the height of the flagpole, as in a conventional breakout.
Stellar XLM fluctuates in tight range
On the weekly chart, Stellar’s movement has been restricted to a tight range. The token has been fluctuating between $0.39 and $0.410 for the past four days. After being rejected at $0.408 multiple times, the token is once again heading towards the same resistance level for another test.
On the 4-hour chart, Stellar (XLM) is currently trading inside a bull flag as it tests the upper trendline. XLM might rebound off the upper trendline as at other times. But the RSI is nowhere close to the overbought region, as such, XLM might break out, since the market is of the notion that there could be more upside to the token. Given that the token breaks out conventionally, it could reach as high as $0.45.
Polkadot (DOT) widens its trading range
DOT is Polkadot’s native token, which is a multichain protocol. DOT ranks 25th in the top crypto by market cap. The token gained about 8% during the past 7 days as it makes its range of motion broader.
Polkadot is trading inside a broadening wedge pattern, where the range of motion of the crypto keeps expanding, or volatility increases. Buyers keep pushing the prices higher and forming new higher highs while sellers push the lows lower. When both parties engage in the battle, volatility increases.
DOT is currently heading towards the upper trendline, which is close to $4.36. Once it reaches the upper trendline, it will rebound off it and head towards the lower trendline, forming the broadening wedge. This rebounding will continue until the broadening wedge is fully formed. Once fully formed, the token will break out and reach above $5.
Currently, the market is neutral according to the Fear and Greed Index, as any price action that happens right now is muted. However, in the coming days, there will be more tokens that will break strong resistance levels and soar, as Uptober fully takes control.
