Bitcoin (BTC) and many popular altcoins have seen impressive gains in recent weeks.
However, some lesser-known coins have also formed bullish patterns that could potentially pave the way for significant gains. The editors of BeInCrypto analyzed 3 altcoins that may pleasantly surprise investors in March.
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ANKR bounced off long-term resistance
ANKR price has been below a descending line since May 2022. The asset tried to break above it three times and each time formed long upper wicks, which are considered a sign of selling pressure. However, in February 2024, ANKR began an upward movement and consolidated above the 644-day resistance. The weekly relative strength index (RSI) legitimized the breakout by rising above 50.
If the rally continues, ANKR could rise another 30% and reach the $0.050 resistance area.
Weekly chart ANKR/USDT. Source: TradingView
However, failure to sustain the gains could trigger a 30% drop to the descending resistance line at $0.027.
Breakout and retest of Raydium (RAY)
RAY has been growing since October 2023. The upward movement led to a high of $1.99 in December, after which the price began to correct. Despite the decline, last week RAY bounced off the $1 horizontal support area and broke above the short-term descending resistance line.
The relative strength index is still above 50 and appears to have regained its strength this week. If RAY successfully closes the week above downward resistance, it could rise 200% to the next resistance at $3.70.
Weekly chart RAY/USDT. Source: TradingView
However, a close below $1 would invalidate the breakout and trigger a 70% drop to $0.35.
MASK Network (MASK) is gaining momentum
MASK has been under downward resistance since August 2021. However, it began an upward movement in early 2024 and broke the trend line last week.
If the bullish momentum continues, the altcoin price could rise another 50% and reach the next resistance at $7.
Weekly chart MASK/USDT. Source: TradingView
Despite the bullish outlook, failure to sustain the gains could trigger a 23% fall to the descending resistance line at $3.60.
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2024-03-03 12:18:48
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