Altcoins Flying Under the Radar: 3 Cryptos to Watch for Potential Gains in February

January was a mixed month for the cryptocurrency market, starting with new all-time highs for many altcoins, which, however, experienced bearish trend reversals in the latter half of the month.

This BeInCrypto analysis delves into lesser-known altcoins that display positive trends, indicating the possibility of substantial profits in the upcoming month. The analysis is specifically directed towards cryptocurrencies positioned within the 150 to 300 rank in market capitalization.

Treasure (MAGIC) Attempts Breakout

The MAGIC price has increased since falling to a low of $0.41 on October 19, 2023. The upward movement caused a breakout from a descending resistance trend line on November 25.

Before the breakout, the trend line had been in place for more than 280 days. The MAGIC price has increased since and is making its third attempt at breaking out above $1.28.

The daily RSI supports this breakout. The RSI is a momentum indicator traders use to evaluate whether a market is overbought or oversold and whether to accumulate or sell an asset. Readings above 50 and an upward trend suggest that bulls still have an advantage, while readings below 50 indicate the opposite. The indicator is above 50, and increasing (green icon) is considered bullish.

Cryptocurrency trader World Of Charts gives a positive MAGIC price prediction, suggesting that an eventual breakout will occur.

If MAGIC breaks out, it can increase 65% to the next resistance at $2.10.