As January comes to a close, marking the historic approval of the Bitcoin ETF, the cryptocurrency market is gearing up for a new chapter in February. Although the ETF impact did not trigger as large a surge as expected, the positive impact is expected to continue.
Here are some key altcoins to keep an eye on as February unfolds:
Horizen (ZEN): Navigating Regulatory Headwinds
The spotlight is Horizen (ZEN), anticipate fluctuations in price dynamics. Horizen, whose mainnet upgrade is scheduled for February 7, 2024 with the launch of ZEN 5.0.0, will disable shielded trading, a strategic move amid growing regulatory pressure. As privacy-focused altcoins come under increased scrutiny and face potential delisting threats, the decision aims to allay concerns and reaffirm investor confidence.
Price prediction: If the RSI easing continues, a drop below the $9.2 support level could lead to a decline to $5.8. Conversely, a break above the trend line could lead to a 45% rise towards $12.
Radiant Capital: Seizing the Lockdown Opportunity
shining capital It is gaining attention as an attractive opportunity for investors. Those who lock their dLPs on the Arbitrum network until February 16, 2024 will receive ARB rewards. RDNT Coin, which has been tracking an upward trajectory along the support trend line since October, is awaiting a potential surge in February, conditional on overcoming resistance at $0.29.
Price outlook: A successful resistance breakout could push RDNT up to $0.33. Conversely, if resistance remains firm, it is expected to fall to $0.25.
Injectable (INJ): Waiting for network change development
Injection (INJ) appears on the scene on January 28th with anticipation surrounding the announcement of a new dApp. The release of influential protocols tends to drive increased network activity, which in turn affects token prices. INJ Coin, which has been settled in a symmetrical triangle for a long time since December 24, 2023, is about to break out.
Expected Movement: A potential upside could cause INJ to target $43 resistance, while a downside scenario could lead to a pullback to $28.
Key Takeaways:
- Regulatory adaptation: Horizen’s move to disable protected transactions reflects a strategic response to the evolving regulatory environment and demonstrates its resilience in the face of heightened scrutiny.
- Lock Opportunity: Radiant Capital’s Incentive Lock Program adds an exciting layer to your growth strategy, driving engagement and potential price appreciation.
disclaimer: This article does not provide investment advice. There are inherent risks involved in investing in cryptocurrency, so individuals should conduct thorough research before making any financial decisions.