Three Altcoins Poised for New All-Time Highs in February
Welcome to the dynamic world of cryptocurrency, where February brings new possibilities. Join us as we explore three captivating altcoins that are poised for remarkable journeys to reach all-time highs.
As the cryptocurrency market experienced mixed price actions in the early days of 2024, with both highs and sharp corrections, crypto enthusiasts are looking at potential opportunities in the altcoin space. This analysis examines three promising altcoins that have exhibited bullish trends and could reach new all-time highs in February.
1. Celestia (TIA)
Celestia (TIA) has followed an ascending support trend line since November 2023, resulting in an all-time high of $20.40 in January 2024. While there was a subsequent dip, the price bounced back on January 23, reaffirming the strength of the trend line.
The Relative Strength Index (RSI) also increased, indicating favorable momentum. Altcoin Sherpa predicts that TIA could see a 43% increase to reach the next resistance at $24.60, provided the bounce continues. However, breaking below the ascending support trend line could trigger a 16% drop to the $14 support area.
2. PENDLE
PENDLE has been on a parabolic ascent since August 2023, with its parabolic ascending support trend line validated multiple times, most recently in January 2024. This parabolic rise has accelerated in recent times. The current upward trend does not show any weakness, and PENDLE appears to continue increasing for the time being.
However, some analysts, like Income Sharks, anticipate a short-term correction. A close below $2.80 might lead to a 30% decrease to the parabolic ascending support trend line at $1.90.
3. Render (RNDR)
Render (RNDR) has been in an uptrend since June 2023, following a five-wave pattern. It recently bounced off the $3.60 horizontal support, signaling the initiation of the fifth and final wave. If this wave follows the expected pattern, RNDR could reach a new all-time high at $8.35, marking a 75% increase from its current price.
Crypto trader King Crypto is optimistic about RNDR's uptrend, targeting the $5 zone. However, the bullish scenario could be invalidated if RNDR closes below $3.60, potentially leading to a 50% drop to the $2.40 level.
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