These 3 Altcoins are Predicted to Skyrocket and Outperform Bitcoin in January 2024!
In early 2024, the crypto world was surprised by the performance of several altcoins that showed bullish patterns compared to Bitcoin (BTC). While Bitcoin experienced significant growth in the second half of 2023, these altcoins showed more favorable price trends. Can they surpass the gains recorded by BTC in January 2024?
Axie Infinity (AXS) Surges from Long-Term Resistance
Source: BeInCrypto
The AXS price has been dipping below the long-term descending resistance line since October 2021, hitting a low of 13,400 satoshis in October 2023. However, the AXS price has increased since then and managed to break out of that resistance last week. At the time of the breakout, this trend line had lasted more than 800 days. With RSI as a momentum indicator, traders can determine whether the market is overbought or oversold and decide whether to accumulate or sell assets. If the weekly RSI is above 50 and the trend is upward, this is favorable for bulls. However, if the RSI is below 50, the situation is the opposite. After the breakout, AXS reached a minor resistance at 24,500 satoshis and dropped slightly. If it manages to breakout again, the price could increase by 145% and reach the next resistance at 60,000 satoshis.
BNB price surpasses 400-day resistance
Source: BeInCrypto The price of BNB has been falling below the long-term descending resistance line since November 2022, hitting a low of ₿0.0051 in December. BNB then started an upward movement and is now breakingout above that resistance line. Although the altcoin reached a high of ₿0.007 and is moving above this trendline, a close above it is yet to be confirmed, which would confirm the breakout. The RSI is also rising, has broken out of resistance (green), and has moved out of overbought territory. If the breakout continues, BNB could increase by another 25% and reach the next resistance at ₿0.0088.
Arbitrum (ARB) Closes the List of Altcoins that Could Outperform BTC
Source: BeinCrypto
The last altcoin that could potentially outperform Bitcoin is ARB. Just like the other two, the price of ARB managed to break out of the descending resistance line last week. This breakout was preceded by a bullish divergence on the weekly RSI, which validated the upward movement. After the breakout, ARB reached a high of 3,350 satoshis before dropping slightly. However, the price managed to close above the resistance line. If the upside movement continues, ARB could increase by another 15% and reach the next resistance at 3,700 satoshis. These three altcoins show great potential to outperform Bitcoin by January 2024. With the right analysis and strategy, you can take advantage of this opportunity to profit in the crypto market. Stay updated with the latest developments in the crypto world and use this information to make wise investment decisions.
*Disclaimer
This content aims to enrich readers' information. Always do your own research and use cold hard cash before investing. All crypto asset trading and investment activities are the responsibility of the reader.
