Three altcoins: You don't see them now, but you might hear about them in February

January was a period of mixed performance for the cryptocurrency market. While some altcoins experienced new all-time highs, they encountered a bearish reversal in the latter half of the month.

BeInCrypto’s editors have identified several promising altcoins that may bring significant profits in February. These altcoins fall within the market capitalization range of 150 to 300 and demonstrate positive dynamics.

Treasure (MAGIC) is showing signs of a bullish breakout

On October 19, 2023, the price of MAGIC dropped to a low of $0.41 before reversing. The subsequent upward movement resulted in a breakout of the descending resistance line on November 25, which had been in place for over 280 days.

Since then, the token has been rising and is currently attempting its third breakout above $1.28.

The daily RSI supports this scenario, with the momentum indicator above the neutral level of 50 and rising (green icon), indicating a bullish sign.

Crypto trader World Of Charts also has a positive outlook on MAGIC, suggesting that the bullish breakout will ultimately succeed.

If this breakout materializes, the price could increase by 65% to the next resistance at $2.10.

Source: TradingView

Despite the bullish outlook, a bounce from the $1.30 resistance area could trigger a 40% decline to the nearest support level at $0.78.

Echelon Prime (PRIME) has rebounded from previous all-time highs

PRIME has been in a decline since reaching an all-time high of $11.84 on December 15, 2023, with the decline contained by a descending resistance line.

On January 23, the token hit a low of $6.57 and rebounded from the area of the previous all-time high of $6.90 (green icon).

Following this, PRIME began an upward movement and recently broke through the trend line, as identified by crypto trader Josh Mcgruff.

The daily RSI supports this upward move, showing a bullish breakout of the bearish divergence trendline and rising above the neutral 50 mark. If the coin continues to rise, it could reach a new all-time high of $14.90, representing a 70% increase from the current price.

Source: TradingView

Despite this bullish outlook, a daily close below $6.90 for PRIME would invalidate the breakout, potentially leading to a 50% decline to the next closest support level at $4.40.

Ravencoin (RVN) may experience a rebound

The final altcoin on this list is RVN, which has been trading within a descending parallel channel since December 2023. Such channels typically see corrective movements, making a bullish breakout the most likely scenario.

On January 23, RVN bounced off the channel support line (green icon) and has been rising since then. The daily RSI momentum indicator formed a bullish divergence during this bounce, supporting the upward move. If a successful bullish breakout occurs, the token could rise by 30% to the next resistance at $0.024.

Crypto enthusiast Tron Black believes RVN is well-positioned for success in the upcoming bull run:

“Please note: #Ravencoin also allows you to create assets that do not have any superpowers and act exactly like you would expect from a self-governed token. And all this with a user interface that an eight-year-old could use.”

Source: TradingView

Despite this bullish outlook, a drop in RVN below the channel’s midline could trigger a 10% price decline to the trend support line at $0.016.

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