The wider crypto market appears to be following the “slow and steady” approach to breaking the local resistance barriers. After massive sell-offs, the market has lost more than $400 billion in its valuation, reaching six-month low mark levels last week. Currently, including Bitcoin, some of the altcoins are near to breaking below critical support levels.
AVAX, ONE, COTI, DIA, and RUNE are likely to 2x if they flip the local support levels. Hence, it is important to note down the apparent entry and exit positions of the same.
AVAX Price To Flip These Bottoms To Confirm 100% Upswing!
AVAX price after failing to sustain above $90, corrected to the strong support of $58.92 in the last week. The price action of the past few days has formed a parallel uptrend channel that is likely to flip the critical support of $79.93. Until then it is time to accumulate because breakout yields to a price rally above $100.
On the other hand, 20-50 days MA’s have been moving upwards and RSI has been making its move to the bullish territory. Hence, the bulls are likely to surrender the $80 level easily to achieve a 100% upswing.
ONE Price Will Make Or Brake? What Are The Points Of Interest?
Harmony (ONE) price has continued its bearish move and is hovering close to the 3-month low of $0.1783. The bulls are likely to defend the current levels and begin with a relief rally. In the worst case, if 50 days MA continues to fall, then traders can look out for positions around $0.164 to enter the trade. As RSI is hovering at the crucial accumulation zone, the bulls are likely to push the price above $0.2198.
COTI Price To Gain More Volatility!
COTI price has continued to gain strength around $0.304. If sellers flip the current support, then the price is likely to correct $0.2855 to confirm its uptrend. The build-up in the sell-off pressure would even plummet the price below $0.25. If you could enter this position, then expect a 100% upswing up to $0.45 in February.
DIA Price Enters Crucial Buy Zones!
DIA price continues to drift down toward the critical support at $0.9252 where bulls will attempt to halt the downtrend. If bulls could manage to flip the 50-20 days MA, then the price would straightaway redirect to $1.91 in February. Currently, the price range between $0.946 and $1.031 is the best area for accumulation.
RUNE Price Displays Best Buy Opportunities!
RUNE price has dipped below 20-50 days MA on January 30th which brings the $3.5 to $4 price range into play. If the flattish 50 days MA around $4, and RSI just beneath the midpoint suggest a balance between buying and selling pressures. If the price sustains the moving averages, then traders will get an opportunity to open their positions around $3.3.
Collectively, the aforementioned altcoins are likely to become superheroes of the crypto-verse in February. As technical factors and historical chart patterns point out to a bullish divergence, the breakout would be 2x their respective price action in the upcoming month.
Source: https://coinpedia.org/altcoin/top-5-altcoins-to-2x-in-february-2022/