5 Altcoins You Should Keep an Eye on in February

Briefly

Horizen and Beldex have announced that they will implement upgrades to their mainnets via hard forks in February.
Injective declared another decentralized application while Brilliant Capital has another airdrop coming.
On February 1, SKALE will introduce the new SKALE Chain payments system, which will further enhance scaling.

Horizen (Harmony), Brilliant Capital (RDNT), Injective (INJ), Beldex (BDX), and SKALE (SKL) are all altcoins that have fascinating advancements arranged in February, which could emphatically influence their cost.

January was a blended month for the cryptographic money market, portrayed by a sharp increment toward the start of the month that switched on January 14. The five altcoins underneath could attract extensive consideration February 2024.

Horizen Performs Network Upgrade

Price: $7.98
Market Cap: $115,028 million
Rank: # 314
Harmony 5.0.0 will start a Mainnet redesign by means of Hard Fork at block #1502800 on February seventh, 2024. After this overhaul, exchanges including safeguarded addresses will be crippled. Utilizing zk-SNARK cryptographic methods, shielded transactions provide enhanced privacy.

Regardless of this positive declaration, the Harmony cost activity isn’t bullish yet. The everyday time span shows that the cost has fallen under a plunging obstruction pattern line since November 8, 2023.

The pattern line has been approved various times, all the more as of late on January 12, 2024 (red symbol). ZEN also fell below $9.20, a horizontal area that had previously provided support prior to the rejection.

The everyday Relative Strength Record (RSI) additionally upholds the lessening. The RSI is under 50 and falling, both thought about negative signs.

Dealers use the RSI as a force marker to evaluate whether a market is overbought or oversold and whether to gather or sell a resource. Bulls still have an advantage if the RSI reading is above 50 and the trend is upward; however, if the reading is below 50, the opposite is true.

If ZEN continues to decline, it may fall another 30% before reaching $5.80, which serves as the closest support.

Despite this bearish ZEN price prediction, a breakout from the trend line can lead to a 45% increase to the next resistance at $12.

Radiant Capital Announces Airdrop

Price: $0.29
Market Cap: $129,359 million Number One 301
The Brilliant group declared that the people who lock dynamic liquidity (dLP) on Arbitrum until February 16, 2024, will get ARB rewards. Those who commit to a 12-month contract will receive more benefits than those who commit to a six-month contract.

Since October 2023, the price of RDNT has gone up in tandem with an ascending support trend line. All the more as of late, it bobbed at the pattern line in January 2024 (green symbol). Nonetheless, the skip has debilitated, and RDNT exchanges beneath the $0.29 obstruction region.

Assuming RDNT breaks above it, it can expand 16% to the following obstruction at $0.33.

Conversely, a breakdown from the trend line can trigger a 15% drop to the closest support at $0.25.

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Injective Announces New dApp

Price: The Market Cap: $36.34 $3,208 billion Number One 26 On January 28, the Injective team made the announcement that this week, a brand-new ecosystem decentralized application (dApp) will go live on the mainnet. On the other hand, it did not specify the nature of the dApp.

The INJ cost has exchanged inside a drawn out balanced triangle since December 24, 2023. The balanced triangle is viewed as a nonpartisan example, which can prompt the two breakouts and breakdowns.

The day to day RSI is at 50, neglecting to affirm the pattern’s heading. Therefore, the future trend will be determined by whether the INJ price breaks out of the triangle or falls below its support trend line.

A breakout can lead to a 20% increase to the next resistance at $43, while a breakdown can cause a 22% drop to the $28 support area.

Beldex Announces Hard Fork

Price: $0.044
Market Cap: $273,909 million
Rank: # 228 The Beldex team announced that the Bern Hardfork will go live on February 4, 2024, at block height #2986890.

Through the Beldex Naming System (BNS), the hard fork will implement a new burning mechanism and switch to a deflationary protocol.

The BDX cost has exchanged inside a sliding triangle since November 2023. The sliding triangle is viewed as a negative example, prompting breakdowns more often than not.

A breakdown that extends throughout the pattern’s height could result in a drop of nearly 30 percent to the nearest support at $0.032.

Despite this bearish BDX price prediction, a breakout from the resistance trend line can trigger a 28% increase to the closest resistance at $0.056.