Three Altcoins to Watch in February

Treasure (MAGIC) saw its price drop to a low of $0.41 on October 19, 2023, before starting an upward trajectory. This upward movement resulted in breaking through a descending resistance trendline on November 25, with the trendline being in place for over 280 days.

Since then, MAGIC has been on the rise and is currently attempting its third breakout above $1.28. The daily Relative Strength Index (RSI) supports this scenario, as it remains above the neutral 50 mark and is trending upward, a bullish sign. Crypto trader World Of Charts is optimistic about MAGIC's prospects, anticipating a potential 65% price increase to the next resistance level at $2.10.

However, despite the bullish outlook, a bounce off the $1.30 resistance area for MAGIC could lead to a 40% drop to the nearest support level at $0.78.

After reaching an all-time high of $11.84 on December 15, 2023, PRIME's price started to decline, constrained by a descending resistance trendline. On January 23, the token marked a low of $6.57, but then rebounded from the area around the previous all-time high at $6.90.

Following this, PRIME initiated an upward movement, breaking through the trendline, an observation noted by cryptocurrency trader Josh Mcgruff. The daily RSI supports this growth, as it has undergone a bullish breakout from the bearish divergence trendline and risen above the neutral 50 level. If PRIME continues to climb, it could reach a new all-time high at $14.90, representing a 70% increase from its current price.

Nonetheless, a daily close below $6.90 for PRIME would invalidate the bullish breakout, potentially leading to a 50% drop to the next nearest support level at $4.40.

The final altcoin on our list is RVN, which has been trading within a descending parallel channel since December 2023. Such channels often lead to corrective movements, making a bullish breakout the most likely scenario.

On January 23, RVN bounced off the channel's support line and has been on the rise since then. The daily Relative Strength Index (RSI) formed a bullish divergence during this bounce, further supporting the upward movement. In the event of a successful bullish breakout, the token could see a 30% increase to the next resistance level at $0.024.

Crypto enthusiast Tron Black believes that RVN has the potential for success in the upcoming bullish run, emphasizing its user-friendly interface for creating assets.

However, a drop below the channel's midline could lead to a 10% price decline for RVN, targeting the trendline support at $0.016.