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The month of February was a bullish one for the cryptocurrency market, with Bitcoin and altcoins nearing all-time high levels. During this period, many altcoin projects managed to stand out and enabled their investors to achieve significant gains. So, what are the projects that could leave a mark on March? We are taking a look together.
ANKR Technical Analysis
ANKR price had been below a descending resistance trend line since May 2022. This trend line caused three significant rejections, all of which closed with long upper wicks. However, in February 2024, ANKR started an upward movement and broke out from the 644-day descending resistance trend line.
If the rise continues, ANKR could increase by 30% more, reaching the resistance area of $0.050. Despite the bullish price prediction for ANKR, failure to sustain the increase could trigger a 30% drop towards the descending resistance trend line at $0.027.
RAY Technical Analysis
RAY price has been on the rise since October 2023. The upward movement reached a high of $1.99 in December before the price began to correct. Despite the decline, RAY rebounded from the $1 horizontal support area last week and started an upward movement.
Since the rise, RAY is separating from the short-term descending resistance trend line. The RSI level, although it has been falling since December 2023, is still above 50 and seems to have regained its base this week. If the breakout is successful, RAY could surge by 200%, reaching the next resistance at $3.70. However, a close below $1 could invalidate the breakout and lead to a 70% drop to $0.35.
MASK Technical Analysis
MASK price had been below a descending resistance trend line since August 2021. The trend line led to numerous rejections, the most recent one in December 2023. However, the altcoin began an upward movement at the start of 2024 and finally broke out from the latest trend line.
If the upward momentum continues, MASK could rise by an additional 50%, reaching the next resistance at $7. Despite the bullish MASK price prediction, failure to maintain the rise could trigger a 23% drop towards the descending resistance trend line at $3.60.
