Bitcoin (BTC) and many popular altcoins have seen impressive gains in recent weeks.
However, some lesser-known coins have also formed bullish patterns that will pave the way for significant gains. The editors of BeInCrypto analyzed 3 altcoins that may pleasantly surprise investors in January.
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Reserve Rights (RSR) overcomes long-term resistance
RSR price has been moving below the descending resistance line since April 2021. The decline led to a low of $0.0016 in August. After this, the asset began an upward movement and rose above the resistance line, which lasted 924 days.
The weekly relative strength index (RSI) confirms the legitimacy of the hold, as the indicator was above 50 at the time of the breakout. If the RSR continues to rise, its price could rise by 200% to the next resistance at $0.010.
Source: TradingView
However, a close below the minor support level at $0.0025 will invalidate the breakout. If this happens, the price of the altcoin could fall by 50% to the immediate support of $0.002.
Status (SNT) started a new rally
At the beginning of 2021, the SNT price fell below downside resistance, falling to a low of $0.018. After this, the altcoin began a slow upward movement and bounced off the trend line, which lasted 900 days. As with the RSR, the relative strength index confirmed the gains, breaking above 50.
After this, Status regained the $0.041 horizontal area, confirming it as support. If the upward movement continues, the token price could rise by 150% and reach the next resistance at $0.115.
Source: TradingView
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Despite the bullish outlook, a close below $0.041 would invalidate the rally. Then SNT could fall by 50% to the nearest support at $0.022.
BRC20.com (COM) is poised for a breakthrough
The latest altcoin with the potential for significant growth in January was BRC20.com. In December, he made six unsuccessful attempts to break through the descending resistance trend line. However, COM price action above the $3.60 horizontal area and RSI reading above 50 hint that the seventh attempt could be successful.
If the asset manages to settle above the trend line, it could rise 60% to the next resistance at $6.10.
Source: TradingView
However, a close below $3.60 would negate this opportunity. In this case, COM could decline by 20%, reaching immediate support at $3.
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2023-12-28 16:12:58
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