At the beginning of 2024, the crypto markets witnessed the emergence of new tokens like Sui, Akash Network, and Mantle Network, and some of them gained significant strength like Celestia, Bonk, Pyth Network, etc., and many more. With the monthly close on the horizon, here is the list of altcoins that can be considered for February 2024.
- Storj price broke above the extended descending consolidation that it began at the beginning of 2022
- With this, the technicals have turned in favour of bulls, with the buying pressure mounting over the crypto
- Once the price secures levels above the immediate resistance, the possibility of rising towards the higher target at $1.2 emerges
Render Token (RNDR)
- The RNDR price has been trading in an ascending trend for over a year and hence is believed to maintain a similar trend ahead
- The volume also has surged to a large extent, with the buying pressure continuing to coil up, which may offer a strong base to maintain a healthy upswing
- However, the weekly MACD is closer to undergoing a bearish crossover, which may hinder the progress of the rally. But the bulls being dominant at the moment may reverse the trend in no time.
Internet Computer (ICP)
- The recent upswing has lifted the price above the prolonged consolation and enabled a trade within a symmetric triangle
- Regardless of the rejection from the upper resistance, the rally appears to remain under bullish influence as the MACD is about to display a bullish crossover
- Therefore, the drop in volume may hinder the progress of the rally for a while, which may be followed by a bullish breakout beyond the 2024 highs
- The FET price is trading within an expanding megaphone but the trend is stuck along the lower support as the bulls are failing to gain momentum with a lowered RSI
- An extended compression usually triggers a breakout, as it did back in November. With this, the price is believed to initiate a fresh upswing towards $0.9 and eventually hit $1
- As the RSI is maintaining a steep descending trend, a breach beyond the upper resistance is mandatory to set up a fine upswing, which may be expected in the coming days