The Altcoin market witnessed intense growth in January after the return of Donald Trump to the White House. In January, the official Trump -Meme Coin received a considerable spotlight when the multiple Aths took up within a few hours. As a result, January was a rocky month for the market. Various cryptocurrencies reached record highs to fall considerably shortly afterwards. Despite these ups and downs, some cryptocurrencies are reflected back and are now close to important price levels. This can mean that they can reach new highlights in February.
Cryptos are historical bullish in February
Cryptocurrency prices can do well in February based on trends from the past. Historically, Bitcoin and Ethereum usually increase in value during this month. Historical data suggests that Bitcoin and other cryptocurrencies usually see a price increase in February.
According to Coinglass, Bitcoin’s price has only fallen twice since 2013 and it rose by 43.5%last February. Since 2017, Ethereum has also seen only one decrease in February. Last February it achieved a profit of more than 46%.
Binance Coin (BNB) Price analysis
The price of Binance Coin (BNB) is slowly climbing and tries to maintain a level above $ 680. However, sellers still have control and block a significant increase after the initial 23.6% Fibonacci retracement level. The BNB price is currently $ 677 and has fallen more than 0.7%in the last 24 hours.
The BNB/USDT trade savings strives for $ 680 and may exceed the 23.6% Fibonacci level. With the relative strength index (RSI) on 51, slightly above neutral, there is a possibility of persistent interest in buying BNB.
If the price is higher than $ 700, we may see a bullish trend in February.
Jito Price Analysis
Jito’s price went back to an important level, indicating that buyers got into lower prices. Although the price of Jito $ 3.5 hit, it could not maintain buyers’ question. From writing, JTO Price acts at $ 3.37 and has fallen more than 0.8%in the last 24 hours.
This Bearish Momentum can continue in the first week of February. There is a bit of resistance at the average price of 50 days of $ 3.63, but it seems that it can be surpassed soon. The JTO/USDT trade savings could possibly rise to $ 4.3 and then higher up to $ 5.6.
ONDO price analysis
Ondo Price succeeded in holding its value at the average price of 20 days of $ 1.5, but it is difficult for buyers to increase the price. From writing, ONDO Price acts at $ 1.48, which has fallen more than 6.8% in the last 24 hours.
Sellers want to lower the price and keep it under the trend line at $ 1.3. If they succeed, the ONDO/USDT trade savings could fall to the average price of 50 days of $ 1.1. Buyers will probably intervene at that time to hold the line, because a decrease in the average of 50 days could send the price to $ 0.9.
However, if the price can rise and can rise above $ 1.65, this Bearish for views would be incorrectly proven. The couple could then possibly rise to a new ATH in the coming days.
Credit : coinpedia.org
