altcoin The market is a highly volatile area. In this context, crypto investors are trying to follow the altcoin market as much as possible to maximize their profits.
So, what are the crypto assets that can be purchased in the changing and transforming world of altcoins? Here are the assets predicted to perform well in February.
Ethereum Classic (ETC)
According to Standard Chartered Bank’s expectation, the Ethereum ETF may be approved in May. With this development, Ethereum Classic also has the potential to exhibit much sharper movements. As a smaller-cap coin, Ethereum Classic has much greater upside potential than Ethereum itself.
Additionally, altcoin Ethereum’A cheaper alternative than That’s why Ethereum Classic is attracting more attention. Currently, ETC price is receiving price rejection lower than the 50-day EMA, reflecting the possibility of the uptrend continuing.
Additionally, the 38.20% Fibonacci level above $23.24 also supports the possibility of a bull run. Therefore, the upcoming uptrend is likely to push ETC price towards the $30 mark.
Shiba Inu (SHIB)
Popular meme coin Shiba Inu, is known for its sharp and fast moves with high returns on both sides of the Y-axis. Additionally, high bullish expectations in February will fuel a positive movement in the Shiba Inu.
With a falling wedge formation on the daily chart, decreasing volume within the formation indicates a breakout soon. Moreover, the possibility of a double bottom formation is emerging for meme coin.
Therefore, SHIB price is likely to make a 30% jump as expectations for a reversal and breakout rally increase.
Chainlink (LINK)
following a horizontal course Chainlinkexhibiting the possibility of a bull run with a breakout this month.
If the uptrend breaks, it is possible for LINK price to reach the $25 mark.
Solana (LEFT)
The bull run in Solana, which has been the best performer for weeks, is finally experiencing a short-term pullback. However, demand at lower levels finally led to a bullish break above the resistance trend line on the daily chart.
With the price of SOL returning from the $80 level, the altcoin surpassed the $100 level. However, a retest of the bullish breakout, continued pullback, a post-test bull run, and potentially reaching the $125 mark.
Ronin (RON)
Ronin, which is the best performer on the weekly chart and has a strong bull run, emerges as one of the best investment options in February. Having reached an all-time high, the altcoin continues to rise without any signs of weakness.
Based on the Fibonacci levels, if the uptrend continues, it is possible for the RON price to reach the 1.618% Fibonacci level at $3.64.
Bitcoin Ordinal (ORDİ)
As a Bitcoin Ordinal (BRC-20) token, ORDI price has bullish potential with the recovery in Bitcoin. Moreover, ORDI price is poised for a big bounce in 2024 as the prevailing uptrend creates a strong bullish phase for the upcoming move.
According to trend-based Fibonacci levels, ORDI price may reach the $90 level again if the uptrend gains momentum this February. From an optimistic perspective, the uptrend is likely to reach the psychological limit of $100.
Dogecoin (DOGE)
Dogecoin has been in a retracement phase for the past few weeks. DOGE price continues with low volatility in January, following a sideways movement above the 200-day EMA.
However, the meme coin price is likely to regain trend momentum this month. Therefore, it is possible that a break above the 50-day EMA could spark a dynamic move for Dogecoin.
In case of a bull run, it is possible for DOGE price to reach $0.10 levels this month.
Avalanche (AVAX)
Another coin with rising potential is AVAX. Altcoin price is poised for a bull run on the daily chart. With a breakout trend move, the altcoin is awaiting a surge of momentum to push higher.
On an optimistic note, AVAX price reversal rally could lead to a high-speed upward move and test the overhead resistance at $50.
Gala (GALA)
As a Gaming/Metaverse token, GALA price is under extreme downward pressure as the overall industry takes a hit. However, as the underlying dynamics gradually change, entering at lower levels can yield gains with the upcoming bull run.
Fibonacci’s 61.80% level indicates a double bottom formation. If the price manages to absorb the overall pressure, it is possible for GALA price to reach the $0.035 mark.
Sandbox (SAND)
Stuck in a wedge, SAND price is poised for an upward move. With lower price rejection candles at the support trend line, Sandbox price may soon make an early comeback from the 61.80% Fibonacci level.
With the contraction in trading volumes during the pullback phase, the breakout is expected to find an increase in volume and momentum. Therefore, a bullish breakout rally is possible to push the SAND token price higher to $0.54.
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