With a history of bullish performance in February, crypto investors are starting to enter the altcoins segments to maximize their profits. As altcoins are more volatile, the upside potential is more lucrative for traders.
Amidst the highly volatile sea of altcoins, picking up the best coins can prove risky if Bitcoin takes a bearish turn. Despite the risk, the altcoins can bring multifold returns over a month.
So, are you prepared to dive into the volatile parts of altcoins? Here are the top 10 altcoins you should consider buying this month.
Ethereum Classic
With the talks of Ethereum ETF coming in May 2024, as per the expectation of Standard Chartered Bank, the close cousin Ethereum Classic has the potential to showcase much sharper moves. As a smaller cap coin, the potential for upside in Ethereum Classic is much more than Ethereum itself.
Furthermore, being a cheaper alternative than Ethereum in coin price, Ethereum Classic gets more attention. Currently, the ETC price takes lower price rejection from the 50-day EMA, which projects the likelihood of an uptrend continuation.
Furthermore, the sustenance above the 38.20% Fibonacci level at $23.24 supports the bull run probability. Hence, the upcoming uptrend can drive the ETC price to the $30 mark.
Shiba Inu
As the second biggest meme coin per market cap, Shiba Inu is well-known for sharp and quick moves of high returns on either side of the Y-axis. Further, the high anticipations of a bullish February will likely fuel a positive move in Shiba Inu.
With a falling wedge pattern in the daily chart, the declining volume within the pattern teases a breakout shortly. Moreover, the possibility of a double-bottom pattern arises for the memecoin.
Hence, with the increasing anticipations around the reversal and breakout rally, the SHIB price can give a 30% jump.
Chainlink (LINK)
Maintaining a sideways track, Chainlink showcases a bull run possibility with a breakout this month. As one more altcoin with the breakout possibility, the altcoins are shaping up for a bull run this month.
With the LINK price action maintaining a channel pattern, the ongoing bull cycle teases a breakout possibility as it challenges the overhead trendline. Further, the rising volume supports the buying team.
In case of a bullish breakout, the LINK price can reach the $25 mark.
Solana (SOL)
Being a top performer for weeks, the bull run in Solana is finally taking a short-term pullback. However, the demand at lower levels finally led to a bullish breakout of the resistance trendline in the daily chart.
With the SOL price bouncing back from the $80 mark, the altcoin tops the $100 mark. However, a retest to the bullish break, the ongoing retracement teases a post-retest bull run and potentially reaching the $125 mark.
Ronin
As a top performer and a strong bull run in the weekly chart, Ronin comes as one of the top investment choices in February. With the all-time high breakout, the altcoin is heading higher with no signs of weakness.
As per the Fibonacci levels, considering the uptrend continues, the RON price can reach the 1.618% Fibonacci level at $3.64.
ORDI
As a Bitcoin Ordinal (BRC-20) token, the ORDI price has the potential to skyrocket with a recovery in Bitcoin. Moreover, with the prevailing uptrend setting a strong bullish stage for the coming move, the ORDI price eyes a massive jump in 2024.
As per the trend-based Fibonacci levels, considering the uptrend gains momentum this February, the ORDI price can reach the $90 mark again. Optimistically, the uptrend can reach the psychological mark of $100.
DOGE
As the biggest dog-themed meme coin out there, Dogecoin has been under a pullback phase over the past few weeks. Tracing a sideways move over the 200-day EMA, the DOGE price hibernates with low volatility in January.
However, with the growing divergence and the desperation in the Dogecoin community, the coin price can regain trend momentum this month. Therefore, a breakout above the 50-day EMA can ignite a dynamic move for Dogecoin.
In case of a bull run, the DOGE price can reach the $0.10 mark this month.
Avalanche (AVAX)
Being a top-rated altcoin, the AVAX price is ready for a bull run in the daily chart. With a breakout trend motion, the altcoin is waiting for a momentum spike to reach higher levels.
As the AVAX price tests the 38.20% Fibonacci level, the price action teases a morning star pattern formation at the crucial area of interest. Optimistically, the reversal rally can lead to a high-speed upside move and test the overhead resistance at $50.
Gala (GALA)
As a Gaming/Metaverse token, the GALA price is under extreme bearish pressure as the overall sector takes a hit. However, with the underlying dynamics changing gradually, entering at lower levels could result in a joyride of the upcoming bull run.
Despite the possibility of a death cross, the Fibonacci level of 61.80% teases a double bottom pattern. In case the price manages to absorb the overhead pressure, the GALA price can boost a trend reversal to reach the $0.035 mark.
Sandbox (SAND)
Trapped in a wedge, the SAND price is ready for an escape on the upside. With lower price rejection candles at the support trendline, Sandbox price may shortly give an early reversal from the 61.80% Fibonacci level, teasing a breakout rally.
With the shrinkage in trading volumes during the pullback phase, the breakout is expected to find a surge in volume and momentum. Therefore, a bullish breakout rally is expected to boost the SAND token price to $0.54.
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