In early 2024, the cryptocurrency market witnessed the emergence of new tokens such as Sui, Akash Network, and Mantle Network, some of which gained significant strength such as Celestia, Bonk, Pyth Network, etc. With the monthly deadline just around the corner, here is a list of altcoins you can consider for February 2024.
STORJ
- Storj price has surpassed the extended descending consolidation that began in early 2022.
- This shifted the technology in favor of the bulls and increased buying pressure on the cryptocurrency.
- If the price manages to get above the immediate resistance, there is a possibility of an advance towards the higher target of $1.2.
Render Token (RNDR)
- RNDR prices have been trending upward for over a year and are expected to maintain a similar trend in the future.
- Trading volume has also surged significantly, and buying pressure continues to rise, which could serve as a strong foundation for maintaining a healthy uptrend.
- However, the weekly MACD is approaching a bearish crossover, which could hinder the rally’s progress. However, the currently dominant uptrend may soon reverse the trend.
Internet Computer (ICP)
- The recent rally has pushed the price above the long-term yuan and allowed for trading within a symmetrical triangle.
- Despite the rejection of the upper resistance line, the rally still appears to be bullish as the MACD is set to mark a bullish crossover.
- Therefore, the decline in trading volume may hinder the progress of the rally for some time, which may lead to a bullish breakout beyond the 2024 high.
Fetch.ai(FET)
- FET price is trading within an expanding megaphone, but the trend remains at the lower support level as the RSI is lower and the bulls are unable to gain momentum.
- Extended compression typically triggers a breakout, as it did in November. It is believed that this will cause the price to begin a new rise towards $0.9 and eventually reach $1.
- With RSI maintaining a steep downtrend, a break above the upper resistance level is essential to set up a subtle uptrend, which can be expected in the next few days.