Altcoins are starting February with mixed signals as selective tokens show strength despite broader market uncertainty. Key network upgrades, unique market positioning, and strong technical momentum are shaping short-term opportunities.
BeInCrypto has analysed three such altcoins to keep on the radar during the first week of February.
SponsoredZilliqa (ZIL)
Zilliqa is a token to watch as its network prepares for a major upgrade this week. The Cancun upgrade will activate on the mainnet through a hard fork. The update aims to improve communication speed and offer finer-grained control, potentially boosting investor interest and short-term demand.
ZIL price may benefit if the upgrade drives a demand surge. The altcoin is trading within a descending channel. A bounce from $0.0039 could occur. A confirmed breakout would require flipping $0.0045 into support alongside a sharp increase in trading volume.
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Downside risk remains if broader market conditions deteriorate. Under sustained bearish pressure, ZIL could break below the channel structure. A drop under the $0.0036 level would invalidate the bullish thesis. Such a move would likely extend losses and delay any recovery attempt.
Hyperliquid (HYPE)
HYPE has emerged as the only positively performing DEX token over the past seven days, gaining 34%. The altcoin is trading near $30.01 at the time of writing. Price remains just below the $30.84 resistance, signaling continued strength despite broader market weakness.
SponsoredA key driver is HYPE’s inverse relationship with Bitcoin. The token shows a -0.49 correlation with BTC, reducing exposure to Bitcoin-led declines. This decoupling supports independent momentum. If demand holds, HYPE could reclaim $34.31 and extend its recovery trend.
Downside risk remains if investors shift toward profit-taking. A drop below $26.82 would weaken the market structure. Such a move would also push HYPE under the 50-day EMA. This breakdown could invalidate the bullish thesis and expose the price to a decline toward $23.69.
Canton (CC)
CC remains one of the strongest performers in the crypto market, supported by a sustained uptrend. The altcoin has rallied steadily for two weeks, adding nearly 30% over the past seven days. This momentum reflects consistent demand and positions CC as a relatively safe bet amid broader volatility.
During this period, CC recorded its third consecutive all-time high at $0.195. The token is trading near $0.184 at the time of writing. The Chaikin Money Flow remains above the zero line, signaling dominant inflows. This setup supports a potential push past the ATH toward $0.215.
Downside risk emerges only if investor sentiment shifts toward profit-taking. A loss of the $0.176 support would weaken the structure. Such a move could push CC toward $0.155 or even $0.142. Falling below these levels would invalidate the bullish thesis and signal trend exhaustion.
