Top 3 Altcoins to Monitor in Late February

As February draws to a close, three altcoins are standing out due to their strong performance and market presence: Story (IP), Sonic (S), and Hyperliquid (HYPE). Each of these altcoins has exhibited remarkable gains recently, making them essential assets for investors to watch.

1. Story (IP)

Story has recently experienced an impressive 140% surge in just a week, largely attributed to its innovative approach to programmable intellectual property. This positioning as a leading artificial intelligence altcoin has garnered significant attention.

With a current market capitalization of around $1 billion, Story’s recent price movements suggest a potential further rise, possibly testing significant resistance levels at $5.32 and $5.88. If bullish momentum persists, an ascent beyond $6 or even $7 could be on the horizon. However, the coin is also experiencing a corrective phase, making it crucial for the price to hold above a support level of $3.65 to prevent a drop towards $2.12.

2. Sonic (S)

Sonic, previously known as Fantom, has also seen a notable increase of about 40% this past week, reflecting a broader bullish momentum following its rebranding. Currently valued at almost $2.4 billion, the coin reached $0.97 on February 21, approaching its historical peak.

If Sonic maintains its upward trajectory, it could soon revisit the $1 mark, potentially registering new all-time highs. Conversely, if a downturn occurs, investors should be vigilant as the coin could slide towards support at $0.78, with a further fallback to $0.50 if market conditions worsen.

3. Hyperliquid (HYPE)

Despite being a profitable player in the crypto landscape, generating $9.15 million in fees over the past week, Hyperliquid is facing bearish sentiment. The token HYPE has depreciated more than 10% within a day and about 18% over the week. Market concerns regarding the newly announced HyperEVM have contributed significantly to this decline.

Should this unfavorable trend continue, key supports at $20.1 and $18.8 will be crucial to monitor. A break below these levels could lead to a descent towards $12.1, marking its lowest price point since mid-December 2024. However, if market sentiment shifts positively, HYPE could challenge resistance at $24.3 and possibly surge to $31.4 if the HyperEVM gains traction.