• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Saturday, May 31, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Top 5 Altcoins To Keep an Eye on During February

Jordan Avery by Jordan Avery
February 5, 2024
in News
Reading Time: 5 mins read
0
top-altcoins-February 1 1
13
SHARES
Share on TwitterShare on Facebook

January was a mixed month for the crypto market. It started with a sharp rise, followed by a reversal on January 14th. Our experts have prepared a list of 5 altcoins with high potential, so let’s dive into the details of these intriguing altcoins and uncover why they deserve your attention in February

 

Horizen Upgrades its Network

Price: $7.98

Market capitalization: $115.028 million

Position in the cryptocurrency ranking: #314

On February 7, ZEN 5.0.0 will begin updating the mainnet through a hard fork on block #1502800. After this update, transactions involving escaped addresses will be disabled. Shielded transactions provide enhanced privacy using zk-SNARK cryptographic techniques. Meanwhile, the ZEN daily timeframe shows that since November 8, 2023, the price has been moving along a descending resistance line.

This trend line has been tested many times, most recently on January 12, 2024. After the rebound, ZEN price also fell below $9.20, a horizontal area that previously supported the asset. The daily relative strength index (RSI) also supports the decline. It is below the neutral level of 50 and falling, which is considered a bearish sign. If ZEN continues to lose ground, it could decline another 30% and reach immediate support at $5.80.

 

Radiant Capital Announces Airdrop

Price: $0.29

Market capitalization: $129.359 million

Position in the cryptocurrency ranking: #301

The Radiant team has announced that those who lock dynamic liquidity (dLP) on Arbitrum before February 16, 2024 will receive an ARB reward. The reward for locking funds for 12 months will be higher than for locking funds for six months.

The price of the altcoin RDNT has been rising along an ascending support line since October 2023. As recently as January 2024, it bounced off this trend line. However, the rebound has lost momentum and RDNT is trading below the $0.29 resistance area.

If RDNT breaks above it, it could rise 16% to the next resistance at $0.33. Eventually, a bearish breakout of the trend line could trigger a 15% price drop to the nearest support at $0.25.

 

SKALE Completes the list of Altcoins for February

Price: $0.076

Market capitalization: $393.008 million

Position in the cryptocurrency ranking: #132

The SKALE token (SKL) closes the top list of altcoins in February. The SKALE Network is an open-source platform that aims to scale dApps for real-world use. This is a project of the Decentralized Economy Foundation. The project’s native token, SKL, can be used for staking, payments, and network governance.

From February 1, Skale will launch payments on the SKALE Chain mainnet and will become the only blockchain with zero gas fees. The SKL price rebounded on January 23, testing the $0.068 horizontal area as support. This rebound was followed by an increase in the RSI index above 50.

If the token continues to rise, it could reach the next resistance at $0.10, which is 30% higher than the current price. Despite the bullish outlook, a break of SKL below $0.068 could trigger a 45% fall to the nearest support level at $0.041.

 

Injective Announces New dApp

Price: $36.34

Market capitalization: $3.208 billion

Position in the cryptocurrency ranking: #26

Injective is a blockchain platform built on top of Cosmos for executing smart contracts and running decentralized applications. It gives users access to numerous dApps with zero gas fees.

On January 28, the Injective team announced that a new decentralized application (dApp) for the ecosystem would be launched on the project’s mainnet this week. However, it did not provide any information about what kind of dApp it will be. INJ has been trading inside a long-term symmetrical triangle since December 24, 2023. The symmetrical triangle is considered a neutral pattern that can end in either a bullish or bearish breakout.

The daily RSI is at the neutral level of 50, also not confirming the direction of the trend. Therefore, the further vector of the coin’s movement will depend on the direction in which the price of INJ leaves the triangle.

 

Beldex Announces Hard Fork

Price: $0.044

Market capitalization: $273.909 million

Position in the cryptocurrency ranking: #228

The Beldex team announced that the Bern hardfork will take place on February 4, 2024 at block #2986890. The hard fork will introduce new features through the Beldex Naming System (BNS) and introduce a new combustion mechanism, moving to a deflationary protocol.

BDX has been trading inside a descending triangle since November 2023. This pattern is considered a bearish pattern that most often leads to breakouts in a southerly direction. A bearish breakout of the full height of the pattern could lead to a fall of almost 30% to the nearest support at $0.032.

 

Altcoin Market Analysis For February 2024

The diverse altcoin market during this month is conducive to rapid growth, and those who study it thoroughly should find coins with the potential for higher short-term profits that fit their strategy. For those whose investment strategy is diversification, it is better to choose a more conservative strategy: their assets should be dominated by BTC, although the exact allocation between Bitcoin and altcoins depends on risk tolerance and the chosen strategy.

Tags: altcoin priceAltcoinsBeldexCrypto MarketFebruary eventsHorizenINJInjectiveInjective INJMarket Trendsprice analysisRadiant CapitalSKALE
Previous Post

XRP Rebound Expected Before Sec Vs Ripple Lawsuit Date

Next Post

6 Differences between Yield Farming and Staking

Related Posts

Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025
Bitcoin Shakes as Trump Talks Tariffs Again
Featured

Bitcoin Shakes as Trump Talks Tariffs Again

May 27, 2025
Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming
Market Analysis

Bitcoin Price Prediction For The Holiday—Breakout or Breakdown Coming

May 26, 2025

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier