Celestia (TIA), Polkadot (DOT), and Shiba Inu (SHIB) are three altcoins that exhibit bullish signs because of their price action.
Which of these three altcoins will perform best in February and beyond? Let’s find out!
Celestia Falls After All-Time High
The TIA price has increased since January 23, when it bounced at the $15 horizontal support area (green icon). The upward movement led to a new all-time high of $21.15 on February 10.
Since then, the TIA price has fallen slightly. However, it trades inside the $19.30 horizontal area, the previous all-time high resistance. Osmosis noted that staking TIA has been quite profitable this year since liquidity providers have generated more than $100,000 in fees over the past week.
The daily Relative Strength Index (RSI) gives a positive sign. Market traders use the RSI as a momentum indicator to identify overbought or oversold conditions and to decide whether to accumulate or sell an asset.
Readings above 50 and an upward trend indicate that bulls still have an advantage, whereas readings below 50 suggest the opposite. The RSI is increasing and is above 50, both considered signs of a bullish trend.
If the bullish altcoin resumes its ascent, it can increase by another 27% and reach the next resistance at $24.40.
TIA/USDT Daily Chart. Source: TradingView
Despite this bullish TIA price prediction, a close below $19.30 can trigger a 22% drop to the closest support area at $15.
Polkadot (DOT) Breaks Out Above Resistance
The DOT price had fallen under a descending resistance trend line since December 25, 2023. The decrease led to a low of $5.98 on January 23, 2024.
The price increased afterward, bouncing at the 0.618 Fib retracement support level. The bounce also caused a reclaim of the $6.60 horizontal area and a breakout from the descending resistance trend line. Today, the price reached a high of $7.65.
The daily RSI legitimizes the breakout since it increased above 50 while the DOT price broke out. FLASH believes DOT has begun a new impulse and will soon increase above $10.
DOT/USDT Daily Chart. Source: X
While this may be the case, DOT has a strong resistance at $8.20, created by the 0.618 Fib retracement resistance level and a horizontal resistance area. If it breaks out, it can reach the next resistance at $9.20, 22% above the current price.
DOT/USDT Daily Chart. Source: TradingView
Despite the bullish DOT price prediction, a rejection from $8.20 can trigger a 13% drop back to the $6.60 support area.
Shiba Inu NFT Launch Could Boost Price
The SHIB price has fallen since it was rejected by the resistance trend line of an ascending parallel channel on December 17, 2023 (red icon). The decrease led to a low of $0.0000082 on January 3, 2024.
The downward movement caused a breakdown from a critical horizontal support area at $0.0000093. However, after briefly consolidating below it, SHIB reclaimed the area by moving above it last week. This makes the previous decrease a deviation only.
A SHIB developer also announced a female-themed NFT collection ahead of Valentine’s Day. The RSI also legitimized the upward movement since it increased above 50 while the price moved above the horizontal support area.
If SHIB continues to increase, it can reach the channel’s resistance trend line at $0.0000125, 32% above the current price.
SHIB/USDT Daily Chart. Source: TradingView
Despite this bullish SHIB price prediction, a close below $0.0000093 will invalidate the bounce and can cause a 20% drop to the channel’s support trend line at $0.0000080.
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