3 Altcoins Ready for Potential 2024 Breakouts

While Bitcoin and prominent altcoins like Ethereum have dominated headlines, several lesser-known tokens have quietly staged bullish technical setups. According to market analysts, these under-the-radar altcoins show strong potential for breakouts and upside in early 2024.

Also read: How High Can Solana (SOL) Surge in January 2024?

Reserve Rights Rallies Above Long-Term Resistance

Reserve Rights (RSR), the native token of a decentralized stablecoin protocol, has surged over 162% against the U.S. dollar since breaking a multi-year downtrend resistance in October 2023. RSR managed to slice through the descending trendline that had suppressed prices since April 2021.

This high-volume move propelled RSR to clock a new yearly high of $0.0053. Bulls still retain control, with the weekly Relative Strength Index (RSI) holding above 50. RSR appears poised to continue its uptrend towards the next target at $0.01.

altcoin
Source: Tradingview

Status Gears Up After 900-Day Downtrend Break

The open-source Status (SNT) protocol enables anyone to create decentralized chat and social media dApps. Its SNT token has surged over 141% after recently breaching a descending trendline in place since early 2021.

Source: Tradingview

SNT hit multi-month highs of $0.068 and bounced firmly from horizontal support at $0.041. The weekly RSI above 50 adds credibility to the breakout. A retest of $0.115 levels seems likely if the uptrend sustains.

Also read: How High Can Binance Coin (BNB) Surge in January 2024?

BRC20.com Readies LaunchPad

BRC20.com’s COM token, another altcoin that enables community ownership of domains on the BRC20 blockchain, trades near local highs. COM is repeatedly testing a descending trendline resistance on expanding volume.

Analysts see a COM breakout as the path of least resistance, targeting $6.10 next. However, failure to hold the $3.60 support area could spark a deeper decline towards $3.00.

altcoins
Source: Tradingview

As Bitcoin consolidation likely continues, these lesser-known cryptocurrencies exhibit technical traction that could fuel their next leg higher. Sustained moves above key resistances accompanied by solid on-chain fundamentals may provide under-the-radar opportunities for altcoin traders in 2024.

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