February was a bullish month for the cryptocurrency market, nearly leading to a new all-time high for Bitcoin (BTC) and other altcoins.

This analysis explores lesser-known altcoins showing promising trends, suggesting potential for significant gains in the coming month, focusing on cryptocurrencies ranked between 150 and 300 by market capitalization.

ANKR Breaks Out From Long-Term Resistance

The ANKR price had fallen under a descending resistance trend line since May 2022. The trend line caused three notable rejections, all creating long upper wicks. However, ANKR began an upward movement in February 2024 and broke out from the 644-day descending resistance trend line.

The weekly Relative Strength Index (RSI) legitimizes the breakout since it increased above 50 while the price broke out. This momentum indicator identifies overbought or oversold conditions and decides whether to accumulate or sell an asset. Readings above 50 and an upward trend indicate that bulls still have an advantage, whereas readings below 50 suggest the opposite.

If the increase continues, ANKR can rise by another 30% and reach the $0.050 resistance area.