3 Promising Altcoins Poised for 2024 Breakouts

• Under-the-radar Altcoins Demonstrating Bullish Technical Setups
• Reserve Rights Surges Past Long-standing Resistance
• Status Prepares for Uptrend After 900-Day Downtrend Break
• BRC20.com Anticipates LaunchPad
• Potential Outlook for Lesser-known Cryptocurrencies

Under-the-radar Altcoins Demonstrating Bullish Technical Setups

Bitcoin$42,260 -0.64% and notable altcoins like Ethereum$2,315 -2.42% have consistently occupied the spotlight. However, a number of lesser-known tokens have secretly staged optimistic technical configurations. Market experts believe these under-acknowledged altcoins could hold a strong possibility for breakups and an upward trend in the early months of 2024.

Reserve Rights Surges Past Long-standing Resistance

Reserve Rights (RSR), the native token of a decentralized stablecoin protocol, has seen a leap of over 162% against the U.S. dollar after successfully breaching a multi-year downtrend resistance in October 2023. RSR consistently managed to break through the descending trendline that had repressed prices since April 2021.

This high-volume move has pushed RSR to register a new yearly high of $0.0053. The bulls maintain control, as the weekly Relative Strength Index (RSI) remains above 50. RSR appears primed to extend its upward trend toward the next goal at $0.01.

Status Prepares for Uptrend After 900-Day Downtrend Break

The open-source Status (SNT) protocol, which allows individuals to create decentralized chat and social media dApps, has seen its SNT token surge by over 141% after recently breaking through a descending trendline that's been in place since early 2021.

SNT reached multi-month highs of $0.068 and rebounded sharply from horizontal support at $0.041. The weekly RSI over 50 reinforces the breakout. If the uptrend maintains, a retest of the $0.115 levels appears plausible.

BRC20.com Anticipates LaunchPad

BRC20.com's COM token, another altcoin allowing community ownership of domains on the BRC20 blockchain, is trading near recent highs. COM is consistently challenging a descending trendline resistance on expanding volume.

Analysts are predicting a COM breakout as the least resistant path, targeting the next level at $6.10. However, if it fails to maintain the support area of $3.60, it may trigger a deeper fall towards $3.00.

Potential Outlook for Lesser-known Cryptocurrencies

In the scenario where Bitcoin consolidation likely persists, these lesser-known cryptocurrencies are demonstrating technical traction that could ignite their next level of growth. Sustained upward movements beyond key resistances, coupled with strong on-chain fundamentals, could yield unnoticed opportunities for altcoin traders in 2024.

Edited by Jonathan Stoker