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Three altcoins that you can find out about in February.
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Three altcoins that you can find out about in February.

Feb 1, 2024

We have reviewed less popular altcoins, which have shown positive dynamics and can potentially bring significant profits in February.

January turned out to be a mixed month for the cryptocurrency market, first characterized by new historical highs for many altcoins, and then turning into a bearish trend in the second half of the month. Our editorial board of BeInCrypto analyzed altcoins, which are not the most popular, but show positive dynamics and are able to bring significant profits to investors in February. For the analysis, we selected cryptocurrencies that occupy positions from 150 to 300 in the market capitalization rating.

Treasure (MAGIC) aims to achieve a bullish breakout. In early October 2023, the MAGIC price fell to a low of $0.41, after which it began an upward movement and successfully broke through the downward resistance line at the end of November, which had existed for more than 280 days. Currently, the token is making its third attempt to overcome the $1.28 level, supported by a positive RSI that is above 50 , indicating a bullish trend. The World Of Charts trader expressed optimism about the prospects for MAGIC, suggesting a possible price increase of 65% to the resistance level of $2.10. However, MAGIC's rebound from the $1.30 resistance level could lead to a 40 percent decline to the nearest support level of $0.78.

Echelon Prime (PRIME) also rebounded from the previous historical high. After reaching a historic high of $11.84 on December 15, 2023, the PRIME price began to decline, limited by the descending resistance line. However, on January 23, the token bounced back from a low of $6.57, recovering after testing the area of the previous historical high of $6.90. Next, PRIME began an upward movement and broke through the trend line, which attracted the attention of cryptocurrency trader Josh McGruff. The daily RSI also supports this growth, breaking the 50 level, which signals a bullish trend. If growth continues, PRIME may reach a new historical high of $14.90, which is 70% higher than the current price. However, a daily close of the PRIME price below the $6.90 level may cancel out the bullish trend and lead to a 50% decrease to the nearest support level of $4.40.

Ravencoin (RVN) also has potential for growth. Since December 2023, RVN has been inside a descending parallel channel, which is often accompanied by corrective movements and a possible bullish breakout from it. On January 23, RVN bounced off the channel's support line and began to grow. The daily RSI indicator also supports this movement, showing bullish divergence, and rises above 50. In case of a successful bullish breakout, RVN may rise by 30% to the next resistance level of $0.024. Cryptocurrency enthusiast Tron Black expresses an optimistic opinion about the prospects of RVN, noting its ability to create assets without superpowers and accessibility for use even by eight-year-olds. However, a decrease in RVN below the midline of the channel may cause a 10 percent decline to the trend support level of $0.016.

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