February 2024 is coming to an end! February was undoubtedly a bullish month for cryptocurrency investors. Not only did several altcoins hit new highs, but the market’s “big brother” Bitcoin ($BTC) also once reached $64,000. , is very close to historical highs. It's like a big shot has arrived. However, the anxiety of most investors has increased simultaneously with the surge in the market, because at this moment, everyone has more Layer2, Gamefi, memes, small pictures, and even inscriptions...

As February comes to an end and Bitcoin hits new highs, which altcoins are likely to attract considerable attention in March? One of the currencies is even expected to surge by more than 100%.

It should be noted that there are greater risks in participating in lower-ranked altcoins with lower market capitalization. Short-term analysis is for reference only and cannot be used as an investment basis.

Ethereum (ETH)

Event: Cancun Upgrade (Dencun)

Current price: $3,460 (as of writing)

Market cap: $416.9 billion

Rank: 2

The Ethereum Cancun upgrade (Dencun) will be launched on March 13. This upgrade will introduce Proto-Danksharding, with the goal of further improving throughput and reducing transaction costs. It is expected to benefit the second layer expansion solution (Layer2) of Ethereum. Very shallow.

In addition, ETH Denver, the annual Ethereum event, will last until March 3. This event is the world's first decentralized organization (DAO)-led event, and proceeds are used to create value for Ethereum.

At present, the price of Ethereum has broken through the long-term ascending parallel channel (green circle), which previously formed resistance twice (red triangle), and Ethereum has also entered the upper middle area of ??the long-term range (white line area).

If Ethereum continues to rise, it may reach the top of the range at $4,000, which is equivalent to another increase of about 15% from current prices; conversely, if Ethereum finds resistance near $3,500 to $3,600, it may fall back to the ascending parallel channel range, which is $2,750 .

EGLD

Event: ETH Denver Large Side Event

Price: $61.29

Market cap: $1.63 billion

Rank: 57

EGLD aims to provide a blockchain protocol for extremely fast transactions through sharding technology. The goal is to create a new network technology ecosystem, including financial technology, decentralized finance (DeFi) and the Internet of Things.

During the ETH Denver event, MultiversX held a large-scale side event "MultiversX Denver Hub". The 4-day event is underway and will feature multiple keynotes and technical panel discussions.

EGLD has broken above the descending resistance trend line and reached a high of $78 in December last year before facing a decline, but regaining its footing in February this year, EGLD is trying to break out of the $62 resistance area, which has not been the case since May 2022. important resistance since then.

If it can successfully break through, it will be expected to challenge the next resistance level of $130, which is equivalent to an increase of 112% from the current price; conversely, if EGLD is blocked at $62, it may trigger a 31.47% drop to the nearest support level of 42 Dollar.

BE

Event: Network upgrade

Price: $0.8544

Market cap: $2.18 billion

Rank: 47

The modular blockchain project Sei Network launched the V2 version last night (28th), which is the first major upgrade of the project since its launch. This upgrade will provide backward compatibility for smart contracts based on the Ethereum Virtual Machine (EVM), as well as seamless integration with the crypto wallet Metamask and improve performance. It also attempts to increase throughput and reduce transaction costs. The goal.

The SEI has been falling since reaching an all-time high of $1.04 on February 18, most recently rebounding from around $0.82.

SEI is currently quoted at US$0.8544. If it continues to rise, it is expected to rise to the next resistance level of US$1.08, which is equivalent to an increase of 26.4% from the current price; conversely, if the intraday closing price of SEI is lower than US$0.82, it may trigger a 29.77% decline. , dropped to the nearest support level of $0.6.

ASTR

Event: Astar zkEVM mainnet is about to be launched

Price: $0.1585

Market cap: $880 million

Rank: 99

The Japanese public chain Astar Network will launch zkEVM in the first quarter of this year, targeting the Layer 2 market, and hopes to become a platform with security, scalability and saving on-chain handling fees (Gas). The test network Astar zKatana was launched at the end of last year. Astar Network also launched the Yoki Origins event in conjunction with NFT, which is said to have more than 40 blockchain projects, creators and companies participating.

ASTR has risen rapidly since October last year, but has been blocked at the long-term Fibonacci retracement 50% point (red triangle) in the past few months. Whether it can break through this resistance will be the key to the market outlook.

If ASTR successfully breaks through the 50% Fibonacci retracement resistance, it will be expected to challenge the next resistance level of $0.3, which is equivalent to an increase of 89.27% ??from the current price; conversely, if the breakthrough fails, it may trigger a 36.9% decline, reaching the recent The support level is $0.1.

DUSK

Event: Mainnet is about to go online

Price: $0.3239

Market cap: $130 million

Rank: 355

Dusk is a Layer 1 public chain built using zero-knowledge proof (ZK). The mainnet is expected to be launched in March or April this year, and DUSK is the native token of the chain. Until March 15, users can stake DUSK, but the pledge is not locked and users can cancel the pledge at any time.

DUSK has risen rapidly since the beginning of the year and this week broke through an important resistance level of nearly two years at $0.3. If it continues to rise, DUSK may rise another 50% and is expected to challenge the next resistance level of $0.48, which is equivalent to an increase of 48.19% from the current price; conversely, if DUSK falls back below $0.3, it may trigger a 44.42% decline. It dipped to the nearest support level at $0.18.

The current big pie is no longer cost-effective for retail investors, so you can do more research on copycats. Once the pie has finished absorbing blood and the high position has stabilized, the next step will be a moment of craziness for the copycats.

Later, we will bring you analysis of leading projects on other tracks. If you are interested, please click follow. I will also compile some cutting-edge information inquiries and project reviews from time to time, and welcome like-minded people in the currency circle to explore together. If you have any questions, please comment or send a private message

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