March turned out to be an exceptionally bullish month for Bitcoin, for the first time in history, the main cryptocurrency updated it’s all-time high even before the halving. However, these three altcoins have a good chance of outperforming BTC in April and the list of altcoins include: Algorand (ALGO), GateToken (GT), PancakeSwap (CAKE).
ALGO forms a “golden cross”
Algorand is a decentralized, secure, and scalable platform for smart contracts. Since the beginning of the year, the price of its native ALGO token has increased by only 17%. However, now the altcoin seems to be preparing for a large-scale rally, as the EMA lines have formed a “golden cross” on the chart for the first time in 4 years.
The golden cross is a rare bullish signal that occurs when the short-term EMA crosses above the long-term EMA. Its appearance is seen as a positive sign indicating that the market may be moving from a downtrend to an uptrend. If the forecast turns out to be correct, ALGO is likely to test the resistance at $0.32. In case of a successful breakout, the price of the altcoin will rise to $0.41.
GT dynamics gain momentum
GateToken (GT) is the main token of the Gate.io exchange. With its help, you can reduce trading commissions, participate in pre-sales, and gain access to promotions taking place on the platform. GT is just 22.19% below the all-time high reached on May 12, 2021. Over the past month, the coin has grown by 98.10% and reached $10 for the first time in 3 years. The four-hour chart hints at a continuation of the uptrend.
The 20-, 50-, 100-, and 200-period EMAs line up in a bullish pattern, with the 20-period EMA leading the line, hinting at strong momentum. If the bulls’ efforts are enough, GateToken could retest the previous high of $12.83. Technical signs and market activity point to favorable prospects for GT in the near to medium term.
CAKE prepares to hit two-year high
PancakeSwap is a decentralized finance (DeFi) platform where users can trade cryptocurrency, earn money through staking, and other tools. Over the past month, the price of the CAKE platform’s native token has soared by 48.54%. Despite this, it is still trading 89.42% below the ATH reached in April 2021. This suggests that the coin has enormous growth potential.
There is a bullish trend on the 4-hour chart of CAKE. Short-term EMAs (20 and 50) are above long-term EMAs (100 and 200), signaling continued momentum. If the altcoin manages to break above the $5.03 resistance level, it will aim for a two-year high of $7.71.
About Altcoins Season
Determining the timing of the real altcoins season is not an easy task. However, some indicators indicate that the market is already on its threshold. The concept of altseason has evolved significantly since its inception in 2017. Now it’s not just about the general rise of the market, but also about selective investments in promising ecosystems. According to the VR Soldier experts, April will favor these three altcoins.
The key to taking advantage of its full potential lies in recognizing signs of Bitcoin consolidation, the impact of technological advances, and broader economic indicators influencing market cycles.
