Investors are at a crossroads following Bitcoin’s bounce back above $43,000. While there’s no assurance of a continuing uptrend in February, not buying the dip could see many miss out on Bitcoin’s pre-halving rally. On the other side of the fence, some experts like Rekt Capital believe altcoins like SEI, Chainlink (SOL), and Dogecoin (DOGE) could outperform Bitcoin during this time. For most investors, picking the best altcoins to buy is a daunting task — the ones that must be executed with utmost precision to avoid tokens that are unlikely to rally.
The #Altcoin market capitalization is holding above the crucial threshold of $675 billion.
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I'm expecting continuation to be happening towards $1-1.25T in the coming 2-4 months. pic.twitter.com/b1ggOn6XjN
See AlsoBest Altcoins to Buy Now for 2024Flynt Finance Review 2023: Is Flynt.Finance Trustworthy or Another Scam? - ThinkMaverick7 Best Altcoins To Buy Today In October 2023 - CaptainAltcoin10 Legit Ways to Earn Free Bitcoin in 2024 (Updated)! - ThinkMaverick— Michaël van de Poppe (@CryptoMichNL) January 30, 2024
SEI Returns Hit 24% In A Week
After bowing to the selling pressure in January, Sei embarked on an upward trajectory rising from $0.56 to the current value of $0.75.
The token backing the first sector-specific Layer 1 blockchain, supporting decentralized exchanges (DEXes), has since its launch attracted immense interest from traders, considering a staggering 116% increase in the trading volume to $530 million.
A commendable 8% surge in the market cap to $1.8 million, making Sei the 45th largest crypto underscores the ability of this token to close in on the top ten assets over the coming months.
Bulls should be concerned about seeking a relatively higher support area, especially with the Relative Strength Index (RSI) in the overbought region, and showing signs of falling back into neutral territory.
Sei has the potential to keep moving higher toward $1 backed by the trailing moving averages. If push comes to shove and bulls lose control of the sellers, the token could rebound from the green band or the next buyer congestion at $0.6.
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Can Chainlink (LINK) Hit $150 In February?
Amidst the broader market’s recovery from the initial downturn triggered byETFapprovals, the Chainlink price has successfully maintained its position above the $13.6 local support level. This positive turnaround from the support level has resulted in a significant 13.6% increase in the LINK price over the past week, bringing it to a current trading price of $15.46.
Examination of the daily chart reveals that this upward trend is shaping into a bullish chart pattern known as an inverted Head and Shoulders, presenting an opportunity for buyers to capitalize on the potential for further recovery.
there’s an anticipation that theLINKprice may rise by an additional 7% shortly, aiming to breach the pattern’s neckline resistance at $16.67. If this breakout is successful, it could lead to heightened buying pressure, potentially pushing the price beyond the $17.5 resistance of the recent high.
Securing this new level could empower buyers to pursue an ambitious target of $30.
Dogecoin (DOGE) Prepares For 22% Surge
Despite the wider market downturn,Dogecoin pricehas impressively maintained its value above the $0.075 support level. The cryptocurrency has rebounded three times from this mark, indicating active buyer accumulation at lower prices, which signals a positive sentiment in the market. However, Dogecoin’s upward movement is currently capped at the $0.0877 resistance level, leading to a period of lateral trading. Could the ongoing market reversal provide the necessary momentum for DOGE to initiate a lasting recovery?
The daily timeframe chart reveals that this support level coincides with the 61.8% Fibonacci retracement level and the 200-day EMA, making it a key focus point for buyers. The recent rebound from the EMA slope has led to a 6.5% increase in Dogecoin’s value over the week, with its current price at around $0.081.
With the network’s development and a recovering broader market, theDOGEprice is poised to potentially break through the overhead resistance at $0.087. A successful breach of this resistance could amplify buying momentum and propel Dogecoin’s value by 22% to reach the upper boundary of a long-standing triangle pattern at $0.107.
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John is a seasoned crypto expert, renowned for his in-depth analysis and accurate price predictions in the digital asset market. As the Price Prediction Editor for Market Content at CoinGape Media, he is dedicated to delivering valuable insights on price trends and market forecasts. With his extensive experience in the crypto sphere, John has honed his skills in understanding on-chain data analytics, Non-Fungible Tokens (NFTs), Decentralized Finance (DeFi), Centralized Finance (CeFi), and the dynamic metaverse landscape. Through his steadfast reporting, John keeps his audience informed and equipped to navigate the ever-changing crypto market.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.