February used to be a bullish month for the cryptocurrency market, practically main to a brand contemporary all-time high for Bitcoin (BTC) and other altcoins.
This prognosis explores lesser-acknowledged altcoins displaying promising trends, suggesting doable for necessary positive aspects within the upcoming month, specializing in cryptocurrencies ranked between 150 and 300 by market capitalization.
ANKR Breaks Out From Long-Term Resistance
The ANKR heed had fallen below a descending resistance pattern line since Would possibly perchance 2022. The pattern line prompted three basic rejections, all rising long upper wicks. On the opposite hand, ANKR began an upward hump in February 2024 and broke out from the 644-day descending resistance pattern line.
The weekly Relative Energy Index (RSI) legitimizes the breakout since it increased above 50 while the price broke out. This momentum indicator identifies overbought or oversold conditions and decides whether or to no longer get hang of or promote an asset. Readings above 50 and an upward pattern present that bulls still possess a bonus, whereas readings below 50 suggest the reverse.
If the amplify continues, ANKR can upward push by any other 30% and reach the $0.050 resistance space.
Despite the bullish ANKR heed prediction, failure to sustain the amplify can trigger a 30% descend to the descending resistance pattern line at $0.027.
Raydium (RAY) Breakout and Retest
The RAY heed has increased since October 2023. The upward hump led to a high of $1.99 in December earlier than the price began to true. Despite the lower, RAY bounced at the $1 horizontal enhance space final week and started an upward hump.
For the explanation that bounce, RAY is breaking out from a shorter-period of time descending resistance pattern line. Even supposing the RSI has fallen since December 2023, it’s still above 50 and apparently regained its footing this week. If the breakout is a hit, RAY can amplify by 200% to the subsequent resistance at $3.70.
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Despite the bullish RAY heed prediction, a shut below $1 will invalidate the breakout and trigger a 70% descend to $0.35.
MASK Community (MASK) Concludes Lesser-Identified Altcoins
The MASK heed had fallen below a descending resistance pattern line since August 2021. The pattern line prompted quite loads of rejections, the most unusual in December 2023. On the opposite hand, the altcoin began an upward hump at the starting up up of 2024 and broke out from the pattern line final week.
If the bullish momentum continues, MASK can amplify by any other 50% and reach the subsequent resistance at $7.
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Despite the bullish MASK heed prediction, failure to sustain the amplify can trigger a 23% descend to the descending resistance pattern line at $3.60.
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