Bitcoin price made one of its classic dips before the Federal Reserve’s interest rate decision, continuing to find buyers at $42,770. Altcoins turned red with modest losses as investors prepare for February. So, which altcoins could bring profits to investors in the coming month? What are the current predictions?
Treasure (MAGIC)
Especially altcoins ranked between 150-300 in market value can experience more impressive rises. With a few hundred million dollars in market value, they have more growth potential. At the forefront is Treasure (MAGIC), which is on the verge of a breakout.
The altcoin, which dropped to $0.41 on October 19, 2023, broke free from the descending resistance trend line on November 25. The resistance that had been stagnant for 280 days helped the price climb to $1.28.
A popular crypto analyst, World Of Charts, expects a final breakout that could lead to an approximate 65% increase in price towards $2.1. In the opposite scenario, a rejection from the $1.3 resistance could trigger a 40% fall.
Echelon Prime (PRIME)
PRIME Coin, which reached its all-time high (ATH) of $11.84 on December 15, experienced a rapid decline to $6.57 on January 23. It then started an upward movement and, as announced by analyst Josh Mcgruff hours ago, it has broken free from the trend line. With supportive daily RSI, if the rise continues, this lesser-known altcoin could climb up to $14.9.
However, in a negative scenario, closures below $6.9 could lead to witnessing a deeper bottom at $4.4.
Ravencoin (RVN)
RVN, a lesser-known crypto with significant growth potential, has been trading within a decreasing parallel channel since December 2023. Eight days ago, it bounced off the channel’s support trend line and created an RSI bullish divergence. If the recovery continues, the price could rise by 30% to $0.024.
Crypto expert Tron Black wrote in his latest assessment;
“Note: #Ravencoin also allows the creation of assets that behave just as you would expect a self-sovereign token to behave, without any superpowers. All with a user interface that an 8-year-old child could use.”
