- Lesser-known altcoins like Reserve Rights (RSR) and Status (SNT) are showing signs of strong breakouts, with RSR surging over 162% and SNT over 141% after overcoming long-term downtrend resistances set since early 2021 and April 2021 respectively.
- RSR has achieved a new yearly high of $0.0053 and is targeting $0.01, while SNT hit highs of $0.068 and may retest levels of $0.115, both supported by a weekly Relative Strength Index (RSI) holding above 50.
- BRC20.com’s COM token is trading near local highs and is on the brink of a breakout, with analysts setting a target of $6.10. However, if it fails to maintain the $3.60 support, prices could decline towards $3.00.
As the crypto market evolves, savvy investors are always on the lookout for the next hidden gem. While Bitcoin and Ethereum usually grab the spotlight, there are several altcoins quietly preparing for takeoff. Here’s a spotlight on three such cryptocurrencies that market analysts believe are gearing up for potential breakouts in early 2024.
Reserve Rights Rallies Above Long-Term Resistance
- Reserve Rights (RSR) has seen a significant surge, breaking a multi-year downtrend.
- The token’s price has risen by over 162% since the breakout in October 2023.
- With a new yearly high of $0.0053, RSR could be targeting the $0.01 mark next.
- The weekly Relative Strength Index (RSI) suggests that bulls have the upper hand, maintaining above 50.
Status Gears Up After 900-Day Downtrend Break
- Status (SNT) has climbed over 141% after breaking its long-standing descending trendline.
- The protocol allows for the creation of decentralized chat and social media apps, fueling potential use cases for SNT.
- After hitting multi-month highs, there’s anticipation for SNT to challenge the $0.115 levels.
- The token’s firm bounce from support and healthy RSI readings lend confidence to the bullish scenario.
BRC20.com’s COM Token Targets New Highs
- COM token is close to breaking out from a descending trendline, with increased trading volume hinting at a strong move.
- Market analysts predict a target of $6.10 if the breakout occurs.
- However, there’s a risk of a drop towards $3.00 if COM fails to maintain the $3.60 support level.
- This token represents community ownership of domains on the BRC20 blockchain, adding an interesting layer of utility.
In the shadow of Bitcoin’s consolidation, these altcoins are showing strong technical patterns that could hint at their readiness to ascend. With key resistance levels being tested and solid on-chain metrics as their backbone, these cryptocurrencies may offer unique opportunities for those looking to diversify their digital asset portfolios in the coming year.
