5 Best Altcoins to Keep an Eye on in February 2024!

Amidst the unpredictable crypto market fluctuations, there are several coins grabbing attention due to their potential and recent developments. This article will delve into five best altcoins worth keeping an eye on in February 2024. Curious about which coins they are?

Horizen (ZEN) Undertakes Network Upgrade

Horizen, represented by the symbol ZEN, is set to undergo a significant network upgrade through a Hard Fork on February 7, 2024. This update is expected to bring about significant changes in the way transactions are conducted, especially those involving shielded addresses.

Despite the positive announcement, ZEN's price has yet to show bullish signs. Technical analysis indicates that ZEN is under downward pressure, and if this trend persists, ZEN could experience a decline of up to 30% from its current price.

Radiant Capital (RDNT) Announces Airdrop

Radiant Capital, with the RDNT token, recently announced an enticing airdrop for users locking their dynamic liquidity on Arbitrum until February 16, 2024. This is a strategy to boost participation and strengthen their ecosystem.

RDNT's price has shown an increase with the support of an upward trend since October 2023. However, the current momentum appears to be weakening, and RDNT is trading below the $0.29 resistance area. If RDNT successfully breaks through this resistance, the price could rise by up to 16%.

Injective (INJ) Unveils New dApp

Injective, known by INJ, recently announced the launch of a new decentralized application (dApp) on their mainnet. Although specific details about the dApp are yet to be revealed, this announcement has captured the attention of many.

INJ's current price is within a long-term symmetrical triangle pattern, considered a neutral pattern. The next trend direction will be determined by whether INJ's price breaks out or breaks down from this pattern.

Beldex (BDX) Announces Hard Fork

Beldex, with the BDX token, is set to undergo a Hard Fork named Bern on February 4, 2024. This Hard Fork is expected to introduce new features and burning mechanisms, bringing Beldex into a deflationary protocol.

Despite the Hard Fork announcement, BDX's price is currently within a descending triangle pattern, considered bearish. If a breakdown occurs, BDX's price could drop nearly 30% to the nearest support.

SKALE (SKL) Wraps Up the List of Altcoins to Watch in February

SKALE, symbolized as SKL, will introduce SKALE Chain payments on February 1. With the introduction of Chain Pricing on the mainnet, SKALE becomes the first self-sustaining blockchain without gas fees.

SKL's price recently bounced, indicating strong support around $0.068. If this upward trend continues, SKL has the potential to reach the next resistance at $0.10, implying an increase of around 30% from the current price.

Amidst the ever-changing dynamics of the crypto market, it's crucial to continually monitor the latest developments of these altcoins. With a good understanding of their movements and developments, you can make more informed investment decisions.