As the volatile month of January concludes, the buyers manage to get a strong foothold over the market. With Bitcoin showcasing healthy signals above the $43K mark, the altcoins are preparing to capitalise on this dynamics. Further, the improving sentiments are projecting the lesser resistance of investors to enter the altcoins market.
Finding such altcoins with the potential to give a notable performance can be a wholesome task! To solve this crisis, Coinpedia brings to you our Top 4 altcoin picks that can pump and outperform the market in early February.
Despite being among the top 5 altcoins, the SOL price is quick to move, showcasing high demand for Solana at lower levels. With a recovery rally accounting for a 425% jump in the last 125 days, the SOL price action shows a bullish retest of the rounding bottom breakout in the weekly chart.
Further, the restarting of the rising trend in the trading volume supports the post-retest reversal, increasing the chances of a bull run in February. Optimistically, the breakout of the 50% Fibonacci level can pump the SOL price higher to $180.
Currently, the SOL price is trading at $98.96%, so more than 80% upside potential is present in this altcoin.
Another large-cap coin that can outperform Bitcoin and Ethereum with its February pump is Ripple (XRP). With a market cap of $27.66 Billion, the XRP price is trading at $0.50, a crucial psychological mark, which is reclaimed in early February.
Being a volatile coin in 2023, the upside potential in the XRP coin is notable in February 2024.
Despite the ongoing bear run, the bullish divergence in the daily RSI line teases a quick reversal for XRP crypto. Considering the reversal breaks the overhead trendline, the XRP price trend can reach the $0.72 mark. However, the death cross in the daily chart warns of an otherwise case, if the price fails to hold dominance over $0.50.
As the biggest meme coin, the chances of a quick and intense move in DOGE are always greater than in other large-cap altcoins. Standing at $11.28 Billion, the 10th largest altcoin rank goes to this meme coin and reflects its popularity globally.
Despite trading at a low of -89.29% from its all-time high, the DOGE crypto is heading higher to surpass the $0.10 barrier.
Taking a strong stand at the 200-day EMA, the meme coin awaits a market recovery for a sharp leap and break the 52-W high. In doing so, the Dogecoin price shows potential to reach $0.15 in February 2024.
Oasis Network (ROSE)
Coming in as the lowest cap altcoin in this list, the potential for Oasis Network is astronomical, not just in February but throughout 2024. As the altcoin recently crossed the $0.10 barrier, it is coming under the limelight of multiple traders and maybe even institutions.
Crossing the short-term resistance trendline, the comeback rally comes with a spike in trading volume. Thus, the chances of a pump in ROSE prices in early February is significantly high. Optimistically, if the uptrend crosses the $0.14 mark, then the altcoin can reach $0.18, a 50% hike from the current market price.