Building on a strong February, cryptocurrency investors have begun entering the altcoin sector to maximize returns. Since altcoins are more volatile, their upside potential is more beneficial to traders.
In a sea of highly volatile altcoins, picking the best coin can be risky if Bitcoin is on the decline. Despite the risks, altcoins can bring multiple returns over a month.
So, are you ready to learn about the volatility of altcoins? Here are the top 10 altcoins to consider buying this month.
Ethereum Classic
With discussions on an Ethereum ETF set to begin in May 2024, as expected by Standard Chartered Bank, its close cousin, Ethereum Classic, is likely to make even sharper moves. As a small-cap coin, Ethereum Classic’s upside potential is much greater than Ethereum itself.
Moreover, Ethereum Classic is attracting more attention as an alternative with a cheaper coin price than Ethereum. Currently, ETC price has received a lower price rejection at the 50-day EMA, so the upward trend is likely to continue.
Additionally, holding above the 38.20% Fibonacci level at $23.24 supports the upside odds. Therefore, the upcoming upward trend could push ETC price up to the $30 level.
shiba inu
Shiba Inu, the second largest meme coin by market capitalization, is known for its sharp and fast high-yield movements on both sides of the Y-axis. Additionally, high expectations for a strong February are likely to fuel positive movements for Shiba Inus.
There is a descending wedge pattern on the daily chart, and decreasing volume within the pattern signals an imminent breakout. Moreover, in the case of memecoins, the possibility of a double bottom pattern arises.
Therefore, as expectations for a reversal and breakout rally increase, the SHIB price could rise by 30%.
Chainlink (LINK)
Chainlink, which maintains a sideways trend, shows upside potential through a breakout this month. As another altcoin with the potential for a breakout, the altcoin is forming an upward trend this month.
LINK The ongoing bullish cycle as price action maintains a channel pattern challenges the overhead trendline, signaling a possible breakout. Increasing volumes also support our purchasing team.
In case of a bullish breakout, LINK price could reach the $25 level.
Solana (SUN)
Solana’s bull run, which has been the best performer for several weeks, is finally showing a short-term decline. However, lower levels of demand finally led to a bullish breakout of the resistance trend line on the daily chart.
As the price of SOL rebounded from the $80 level, the altcoin surpassed the $100 level. However, a retest of the bullish breakout and ongoing retracement could signal an uptrend following the retest and potentially reaching the $125 level.
ronin
With its top performance on the weekly charts and strong gains, Ronin ranks as one of the best investment picks for February. Breaking through all-time highs, altcoins are heading higher with no signs of weakness.
Considering that the uptrend continues according to Fibonacci levels, RON price may reach the 1.618% Fibonacci level at $3.64.
Ordi
The price of ORDI, the Bitcoin Ordinal (BRC-20) token, is likely to surge with Bitcoin’s recovery. Moreover, ORDI price is expected to see a massive rise in 2024 as the prevailing uptrend sets a strong bullish stage for the upcoming movement.
According to trend-based Fibonacci levels, ORDI price could reach the $90 level again, considering the rising upward momentum this February. Optimistically, the upward trend could reach the psychological $100 level.
viceroy
Dogecoin, the biggest dog-themed meme coin, has been on a downward trend over the past few weeks. Tracking the sideways movement against the 200-day EMA, DOGE price hibernates with low volatility in January.
However, with the growing divide and growing desperation in the Dogecoin community, the coin’s price could regain trend momentum this month. Therefore, a break above the 50-day EMA could trigger a dynamic move in Dogecoin.
In case of a bull market, DOGE price could reach $0.10 this month.
Avalanche (AVAX)
The price of AVAX, a top-rated altcoin, is poised for a bullish performance on the daily charts. With a breakout trend move, altcoins are waiting for a momentum spike to reach higher levels.
As AVAX price tests the 38.20% Fibonacci level, the price action portends a morning star pattern formation in this important area of interest. On an optimistic note, a reversal rally could lead to a high-speed rally and a test of overhead resistance at $50.
GALA
As a gaming/metaverse token, GALA price is under extreme bearish pressure as the entire sector is taking a hit. However, with the underlying dynamics gradually changing, entering lower levels can keep you entertained during the upcoming bull market.
Despite the possibility of a dead cross, the 61.80% Fibonacci level indicates a double bottom pattern. If the price absorbs the overhead pressure, GALA price may promote a trend reversal and reach the $0.035 point.
Sandbox (SAND)
SAND price, trapped in a wedge, is poised for an upward breakout. A lower price rejection candle at the support trend line could soon signal an initial reversal in the sandbox price at the 61.80% Fibonacci level, signaling a breakout rally.
As volume decreases during the down phase, a breakout is expected to find a surge in volume and momentum. Therefore, a bullish breakout rally is expected to push the SAND token price to $0.54.