Altcoins
Can these 3 Altcoins reach all-time highs in March 2024?
These altcoins have bullish-looking formations and could reach new all-time highs in March.
February was extremely optimistic for the cryptocurrency market. New highs were seen across the board for Bitcoin (BTC) and several altcoins. BeInCrypto takes a look at the top altcoins for March that could reach new all-time highs.
The Ocean Protocol (OCEAN) begins its ascent to a record level
The price of OCEAN has been rising since the start of 2023. Initially, it had difficulty getting out of a descending resistance trend line which existed from the historic peak. But after five unsuccessful attempts, OCEAN finally broke in October and has accelerated since.
This week, OCEAN hit a new yearly high of $0.88, with the wave count supporting the upward move and breakout. Indeed, Elliott wave theory identifies long-term recurring price patterns and investor psychology, which helps them determine the direction of a trend.
The most likely count suggests that OCEAN is in the third wave of a five-wave upward move. If the count is correct, the The price of OCEAN may increase at the next resistances at $1.36 or $2.03. The first would give waves one and three a ratio of 1:1, while the second would give them a ratio of 1:1.61.
This would represent upward moves of 50% and 120%, respectively, with the latter being a new all-time high price.
OCEAN/USDT weekly chart. Source: Trading View
Despite the bullish OCEAN price prediction, a quick rejection at the current level can trigger a 45% decline to the nearest support at $0.55.
Aptos (APT) breaks out of long-term resistance
THE The price of APT has increased since breaking out of a long-term descending resistance trendline in November 2023. The increase has been parabolic, leading to a high of $13.60 this week. APT reached $12.60 confluence of resistance levels, created by a horizontal resistance zone and the 0.5 Fib retracement resistance level, the final resistance before the all-time high of $20.55.
The weekly relative strength index (ROI) supports the breakout. Indeed, it is increasing and has almost exceeded 70 (green icon), a sign of an upward trend.
It should be noted that the RSI is a momentum indicator this helps assess whether a market is overbought or oversold and whether to accumulate or sell an asset. Readings above 50 and an upward trend suggest that the bulls still have an advantage, while readings below 50 indicate the opposite.
Therefore, if the APT Price Surpasses $12.60it can rise another 70% and reach an all-time high of $2.55.
Learn more: An Ultimate Guide to Aptos (APT)
Despite the bullish APT price predictiona rejection from the $12.60 area can trigger a 35% decline to the nearest support at $7.90.
iExec RLC (RLC) Concludes Record Altcoins
The final altcoin expected to hit all-time high is RLC. RLC broke out from a key horizontal resistance zone at $2.30 over the past three weeks and moved above an ascending parallel channel. The channel has existed since June 2022 and the break above suggests that the upward movement is impulsive.
The bullish movement was also supported by an increase in the RSI above 70 (green icon), legitimizing the breakout. Now, RLC price is approaching the $5.30 resistance zone, which is the last one before an all-time high. If the altcoin breaks out, it can rise another 140%, close to the all-time high of $10.
Learn more: Top 11 platforms for trading the cheapest cryptocurrencies
Despite this bullish prediction of the RLC pricea rejection from the $5.30 area can trigger a 45% decline to the nearest support at $2.30.
Disclaimer
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