TL;DR:
- Midnight (NIGHT) aims to reclaim its $0.120 high, driven by the Kūkolu phase of its roadmap.
- Hyperliquid (HYPE) records a massive spike in open interest, signaling strong institutional demand.
- Monero (XMR) shows signs of sell-side exhaustion, which could propel its price toward $800.
As February begins in the cryptocurrency market, optimism is being renewed following a week of intense volatility. Investors are rotating capital into projects with solid fundamentals and rapidly improving network metrics.
In this context, three altcoins with all-time high (ATH) potential could lead the sector’s next move. These assets possess technical setups capable of triggering a trend reversal at any moment.
Leading the list is Midnight (NIGHT), following a period of profit-taking post-launch. The development of the Kūkolu phase and support from Charles Hoskinson serve as key catalysts for a push back toward the $0.120 level.
Technical and Fundamental Factors Behind the Rally
Hyperliquid (HYPE), for its part, is showing independence from Bitcoin, benefiting from a favorable negative correlation. Notably, the Chaikin Money Flow recently crossed from the red zone into green territory.
Open interest in Hyperliquid has scaled impressively, reaching $793 million. This surge reflects a growing appetite for decentralized commodity trading and alternative market structures.
The list concludes with Monero (XMR). This altcoin is benefiting from renewed interest in the privacy narrative. Although the price has undergone adjustments, the Money Flow Index (MFI) indicates that selling pressure is reaching saturation.
If XMR manages to consolidate above $500, the path toward $800 would be clear. However, the sustainability of these movements will depend strictly on capital inflows maintaining their current pace.
