As April 2024 dawns, unrest in the cryptosphere is increasing. Altcoins, these alternative currencies to Bitcoin, are promising with spectacular rises. Here are the top 3 altcoins to watch for the end of April, chosen for their disruptive potential and growing popularity. Explore these digital assets that could transform the market this month.
Updated on 04/23/2024 at 7:55 p.m. by Léa
Will Ethereum (ETH) cross $3,300?
Ethereum is a decentralized and open-source blockchain platform which integrates smart contracts. It represents the second largest cryptocurrency in terms of market capitalization, amounting to $385.7 billionjust behind Bitcoin.
In the current recovery dynamic, ETH price recovered from the $2850 support level and stabilized above the 50% Fibonacci retracement level. This positive rebound led to a 10% increase in asset valuecreating an uptrend reversal pattern called a “double bottom.”
If the downtrend continues, ETH price could test the support at $3,280. In the event of a successful breakout, this could encourage buyers to breach the resistance at $3,730 and subsequently aim for the $4,100 threshold.
Solana (SOL) towards a new bullish rally?
Solana (SOL) is a powerful blockchain that supports decentralized applications and cryptocurrencies. Known for its high-speed transactions and remarkable scalability, it uses Proof of History (PoH) consensus combined with Proof of Stake (PoS).
After a recent downturn, Solana's SOL token made a remarkable rebound from its low of $116, reaching the 50% Fibonacci retracement level. The asset experienced a significant rise of 33% and currently trading at $158. This advancement raised Solana's market capitalization to $69.3 billion, strengthening its position as the world's fifth-largest cryptocurrency by market capitalization.
Solana shows positive momentum, approaching the $162 mark. The prevailing optimism in the market indicates a potential upward breakthrough. Continued growth could lead to SOL towards a significant increase of 30%, targeting the yearly high of $210. This upward trend demonstrates investors' confidence in Solana's ability to rebound. This is despite common fluctuations in the cryptocurrency market.
Pendle (PENDLE) ready to exceed 7 dollars?
Pendle stands out in the field of decentralized finance (DeFi) with its ability to convert future revenue streams into tradable assets. This forward-thinking platform makes access to fixed income investments more accessible, opportunities previously limited to the traditional financial sector.
The Pendle cryptocurrency (PENDLE) is close to reaching an important threshold. According to recent analyses, the price of PENDLE could soar and exceed $7. Currently valued at around $6.60, it is expected that its price could potentially rise to $9.57 by the end of May. These forecasts reflect increased confidence in Pendle's sustained uptrend.
Will Bitcoin give way to an altcoin season?
The cryptocurrency market was marked by a historic event, the 4th halving of Bitcoin. After a fall in cryptocurrencies around this period, the price of BTC rose after the halving and is currently hovering around $66,600. However, the same is not true for altcoins.
Altcoins suffered from the decline in the cryptocurrency market and some lost 80%. Historically, post-halving crypto investors and traders are turning more towards altcoins. The Altcoin Season Index and the dominance of Tether (USDT) are key indicators for predicting the start of an altcoin season. Cryptocurrency experts anticipate a possible recovery in altcoins, especially if Bitcoin's stability continues, which could signal the start of an altcoin season.
DISCLAIMER
This article is published for information purposes only and should not be considered investment advice. Some of the partners presented on this site may not be regulated in your country. It is your responsibility to check the compliance of these services with local regulations before using them.
