Two altcoins, LINK and FXS, are demonstrating bullish patterns against Bitcoin (BTC) with potential to outperform the leading cryptocurrency in February. Despite Bitcoin’s recent downturn, these altcoins exhibit positive price movements, raising questions about their ability to surpass BTC’s performance in the upcoming month.
LINK’s Potential for a 100% Price Increase
LINK’s price has been under a decreasing resistance trend line since June 2020, hitting a low of 0.00018 BTC in June 2023. After briefly falling below the 0.00023 BTC support, LINK reclaimed it, suggesting a possible reversal. The price has broken out from the long-standing trend line and is aiming for another breakout. If successful, LINK could see a 100% surge to 0.00075 BTC, supported by a bullish RSI above 50. However, failure to surpass the 0.00042 BTC resistance could lead to a significant drop.
FXS, after a decline following its all-time high in early 2022, has recently broken out of a decreasing resistance trend line that was in place for around two years. A bullish divergence on the weekly RSI, which has been indicative of a bullish trend for over six months, supports this breakout. If the bullish momentum persists, FXS could potentially double in value, reaching a resistance level of 0.00048 BTC.
Both LINK and FXS are showing signs of strength against Bitcoin, with technical indicators like the RSI suggesting a bullish trend. Traders and investors are closely watching these altcoins as they challenge Bitcoin’s market dominance and seek to capitalize on their bullish patterns.
The original article detailing the bullish patterns of LINK and FXS against Bitcoin can be found on COINTURK NEWS, providing insights into the potential market movements of these altcoins in comparison to BTC.