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April altcoins are setting the stage for a potential market upheaval, predicted to outshine Bitcoin (BTC) significantly. Among these, ALGO stands out with its recent “Golden Cross” formation on the 4-hour price chart, an indicator that could herald the beginning of a new bull run.
Additionally, GT has captured attention by growing an impressive 98.10% over the past month. Its price trajectory suggests that this uptrend might intensify in April. Meanwhile, CAKE is poised to hit its highest price since May 2022, presenting a compelling case for investors looking for lucrative opportunities outside the Bitcoin domain.
ALGO Just Formed A “Golden Cross”
Coin: Algorand (ALGO)
Price: $0.27
Market Cap: $2.26B
Algorand is a decentralized, secure, and scalable platform for digital currency and smart contracts. Leveraging a variant of Proof-of-Stake (PoS) known as Pure PoS (PPoS), its protocol ensures network security and achieves consensus for block production.
ALGO price grew almost 17% this year. Although its growth is still behind other coins, ALGO could be getting ready for a huge bull run, as its 4H price chart shows its EMA lines just formed a “Golden Cross”.
Exponential Moving Averages (EMAs) are a moving average that places a greater weight and significance on the most recent data points, making them particularly responsive to new market information.
The Golden Cross is a bullish signal observed on price charts, occurring when a shorter-term EMA crosses above a longer-term EMA. This event is seen as a positive sign, suggesting that a market could be moving from a downtrend to an uptrend, indicating potential long-term growth ahead.
Read More: Algorand (ALGO) Price Prediction 2024/2025/2030
If the uptrend continues, ALGO will probably test its previous resistance at $0.32. If that one is broken, Algorand could continue rising to test the next resistance at $0.41 in April.
April Altcoins to Buy: GT Is Getting Momentum
Coin: Gatetoken (GT)
Price: $10.10
Market Cap: $1.33B
GateToken (GT) serves as the foundational utility token of the Gate.io exchange platform, crafted to enable a multitude of functions and services within its ecosystem. Users holding GT can leverage the token to cover trading fees, engage in token sales, gain access to unique features and promotions, and benefit from discounts and rewards.
GT is only 22.19% below its all-time high (ATH), reached on May 12, 2021. The coin grew 98.10% during the past month, reaching the $10 price level for the first time since May 10, 2021.
The GT 4H chart shows a rising trend. The EMAs for 20, 50, 100, and 200 periods line up in a bullish pattern. The 20-period EMA leads this lineup, hinting at strong momentum. Prices are beating these averages.
Price candles remain over the 20-EMA. This confirms the trend, suggesting buyers are in charge. The pattern of rising lows and highs also signals an uptrend.
If this holds, GT may retest its old high of $12.83 from April. The technical signs and market activity suggest a bright outlook for GT in the near to medium term. They point to potential continued gains.
CAKE Is on Track to Hit Its Highest Price Level Since May 2022
Coin: PancakeSwap (CAKE)
Price: $4.64
Market Cap: $1.15B
PancakeSwap is a decentralized finance (DeFi) platform where users can engage in cryptocurrency trading, earn rewards via staking and farming, take part in lotteries, and have a say in governance choices. It runs on the Binance Smart Chain, emphasizing reduced transaction costs and speedy processing. CAKE is its native coin.
CAKE grew 48.54% in the last month, but it’s still 89.42% below its ATH reached in April 2021. This suggests CAKE has a lot of room for growth.
The CAKE 4-hour chart shows a bullish trend. Short-term EMAs (20 and 50) are above the long-term ones (100 and 200). This signals ongoing momentum. CAKE’s price is near the $5.03 resistance. A break above it may extend the uptrend. This is due to the bullish EMA setup. The EMAs could provide support if the price dips.
Read More: 3 Hidden Gem Altcoins to Watch Out for in April
CAKE aims for the May 2022 high of $7.71. It needs to keep up the bullishness and buy support to get there. If it passes $5.03, that level could become a new support. Still, investors should watch out. The path to $7.71 has several resistances to clear. Each could test the uptrend’s strength.