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In March, these three altcoins may reach new maximum values
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In March, these three altcoins may reach new maximum values

Mar 2, 2024

Ocean Protocol (OCEAN) is on its way to reaching its peak as its price has been steadily rising since the beginning of 2023. In October, the asset made a breakthrough on its sixth attempt, surpassing a descending resistance trendline that had been in place since its previous historical peak.

This week, OCEAN reached a new yearly high at $0.88, with wave analysis supporting its upward momentum and breakthrough. According to the most probable assessment, the token is currently in the third wave of a five-wave upward movement. If this holds true, its price could rise to the next resistance levels at $1.36 or $2.03. In the former case, the ratio between the first and third waves would be 1:1, and in the latter, 1:1.61. This would signify an upward movement of 50% and 120% respectively.

Despite the bullish forecast, a downturn from current levels could trigger a 45% collapse to the nearest support level at $0.55.

Aptos (APT) has bounced back from long-term resistance.

APT's price began to rise after breaking through a long-term descending resistance trendline in November 2023. The parabolic upward movement led to a peak of $13.60 this week. Aptos reached the convergence of resistance levels at $12.60, formed by a horizontal area and the 0.5 Fibonacci resistance level. This is the final barrier separating the asset from its historical peak of $20.55.

The weekly Relative Strength Index (RSI) supports the breakthrough, with the indicator rising and approaching the 70 mark, considered a sign of a bullish trend.

If APT breaks above $12.60, it could rise by another 70% and reach a new peak.

However, deviation from the $12.60 area could trigger a 35% decline to the nearest support at $7.90.

iExec RLC (RLC) has broken out of a key resistance area.

Over the past three weeks, RLC has broken out of a key horizontal resistance area at $2.30 and risen above an ascending parallel channel that has been in place since June 2022.

The rise has been supported by the Relative Strength Index, which has stabilized above the 70 mark. Currently, the altcoin's price is approaching the resistance area at $5.30, which is the final hurdle before reaching its historical peak. If RLC breaks through this zone, it could rise by another 140%, nearing the peak at $10.

However, deviation from the $5.30 area could trigger a 45% decline to the nearest support level at $2.30.

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