Emerging Altcoins to Watch: ANKR, RAY, and MASK
While Bitcoin (BTC) and several popular altcoins have been experiencing impressive growth in recent weeks, some lesser-known coins have also formed bullish patterns, potentially paving the way for significant profits. BeInCrypto’s editorial team has analyzed three altcoins that could pleasantly surprise investors in March.
ANKR: Breaking Long-Term Resistance ANKR’s price has been under a descending trendline since May 2022. Despite three attempts to break above it, each resulted in long upper wicks, indicating seller pressure. However, in February 2024, ANKR began an upward movement and solidified above the 644-day resistance. The weekly Relative Strength Index (RSI) confirmed the breakout by rising above 50. If the uptrend continues, ANKR could grow by another 30% and reach resistance around $0.050. Failure to sustain the rally could lead to a 30% drop to the descending resistance line at $0.027.
RAY: Breakout and Retest RAY has been rising since October 2023. Although its price corrected after reaching a peak of $1.99 in December, last week, RAY rebounded from the horizontal support area at $1 and broke above a short-term descending resistance line. The RSI remains above 50 and appears to have regained strength this week. If RAY successfully closes the week above the descending resistance, it could surge by 200% to the next resistance at $3.70. Conversely, closing below $1 would invalidate the breakout and trigger a 70% drop to $0.35.
MASK: Gaining Momentum MASK has been under descending resistance since August 2021. However, in early 2024, it began an upward movement and broke the trendline last week. If the bullish momentum continues, the altcoin’s price could rise by another 50% and reach the next resistance at $7. Despite the bullish forecast, failure to sustain the achieved growth could lead to a 23% drop to the descending resistance line at $3.60.
Disclaimer: All information provided is for general informational purposes only. Readers are solely responsible for any actions taken based on the information presented.
