According to historical data, April can be considered a successful month for Bitcoin, unlike March. According to data from Coinglass, the BTC price never lost more than 3.46% in April, even seeing gains of 50 percent. In this article, let’s take a look at the technical comments by Valdrin Tahiri, who in his recent analysis lists 8 altcoin projects to watch in April.
8 altcoins that can be followed in April
Swipe (SXP)
Swipe is a platform whose main purpose is to connect the fiat and crypto money worlds. To achieve this, it partners with payment networks and creates card programs that easily transfer cryptocurrency to fiat money and vice versa. Its three main offerings are the swipe wallet, a debit card, and the native token SXP. SXP is part of the decentralized finance (DeFi) industry. Numerous new updates are expected this month, such as the deployment of the Solar Side Ledger Protocol on the mainnet, as well as the launch of mobile and web wallets.
As for price action, SXP cleared an important level at $1.45 after forming a large number of bullish divergences. The next closest resistance area is $2.90, according to analyst Valdrin Tahiri’s analysis.
- Current price: 1.66
- Market cap: $796 million
- Market cap Ranking: 107
Axie Infinity (AXS)
AXS is the native cryptocurrency of the play-to-win NFT game Axie Infinity. There are use cases in the areas of governance and staking. Another feature is “breeding”, the process by which new Axies (monsters in the game) are created. Despite the March 29 hack, terrain gameplay and the new Axie Origins V3 are expected to be released this month, and AXS could soon find itself with many new use cases.
On March 16, AXS broke out of a descending resistance line but failed to rise above the $68 resistance area (red circle). Currently trying to find support.
- Current price: $69.77
- Market cap: $4.2 billion
- Market cap Rank: 39
Cosmos ( ATOM)
Cosmos offers an ecosystem of interconnected Blockchain networks. It does this to improve the speed and scalability of its protocol and increase interconnectedness between Blockchains. Additionally, it aims to simplify Blockchain technology for the masses. The white paper of the altcoin project was published in 2016. Native token, ATOM earned by hybrid PoS algorithm. Version 8 of the Rho mainnet upgrade will be completed this month.
ATOM has been rising within an ascending parallel channel since March 14. It is currently trading in the middle of this channel. No clear bullish or bearish signs yet.
- Current price: $30.39
- Market cap: $8.7 million
- Market rank: 22
EOS ( EOS)
EOS is a platform focused on the creation of decentralized applications (dApps). Its goal is to make it as simple as possible for programmers to use Blockchain technology. The platform was launched in 2018. It hasn’t had a major upgrade since EOSIO 2.0 in 2020. But that’s expected to change this month with the release of Mandel 2.3.
EOS has been rising with an ascending support line since March 14. The line coincides with the $2.72 horizontal support area. If this merger materializes, the end of the short-term declines can be expected.
- Current price: $2.88
- Market cap: $2.84 billion
- Market rank: 49
Kava.io (KAVA)
Kava.io is a DeFi lending platform. It allows users to lend, invest and earn. Also, the platform supports cross-chain interactions. The platform’s native cryptocurrency is KAVA, which is used for staking and securing the platform. The KAVA foundation will be operational this month. The Foundation will be a non-profit advisory body providing strategic input to the KAVA community and its decentralized autonomous organization (DAO).
On March 28, the altcoin broke out of a descending resistance line that has existed since August 30. Currently trying to verify this as support. If successful, the next resistance is $5.60.
- Current price: $4.58
- Market cap: $771 million
- Market rank: 110
Elrond (EGLD)
Elrond is a protocol that offers incredibly fast transaction speeds through its unique sharding mechanism, adaptive state sharing. This mechanism manages to combine three different types of sharding and elevate the way they communicate with each other. The three main purposes of the platform are:
- Staking
- Payment on Mainnet
- Reward validators
This month, protocol Web3 metabonding will publish. This will allow projects built on this to create a commitment with long-term community members by distributing around 10% of their supply to EGLD stakeholders.
EGLD has been moving upwards since January 22. It is currently in the process of attempting a second break above the $200 resistance area. It is also possible for EGLD to be trading inside an ascending triangle, which is considered a bullish pattern. If a breakout occurs, the next resistance is $295.
- Current price: $199.86
- Market cap: $4.34 billion
- Market cap Rank: 38
Reserve Rights (RSR)
RSR is a dual token stablecoin platform whose purpose is to combat the effects of inflation. It uses Reserve stablecoin (RSV) and Reserve Rights Token (RSR). The second is an arbitrage system to keep the price of the first at $1. RSV is backed by a range of cryptocurrencies and various other assets. The new protocol is expected to launch soon.
RSR broke out of a descending resistance line on March 16 and is currently struggling to break out of the $0.0173 resistance area. If successful, the next resistance is $0.0275.
- Current price: $0.02118
- Market cap: $313 million
- Market rank: 185
Secret (SCRT)
Secret Network is a Blockchain focused on data privacy. It was built on the Cosmos. In addition to providing lower fees for the network, it can also be staked to earn rewards. The alpha mainnet upgrade will be released later this month.
Altcoin has been trading inside a long-term symmetrical triangle since November 2021. It bounced off the support line on March 18 (green icon) and has been rising ever since. The closest area of resistance is at $7.
- Current price: $6.06
- Market cap: $992 million
- Market rank: 91
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