3 bullish altcoins predicted to outperform Bitcoin in April
Altcoins are setting the stage for a potential market upheaval, predicted to significantly outperform Bitcoin (BTC) in April. Among these, ALGO stands out for its close “Golden Cross” pattern. Here on the 4-hour price chart, an indicator could herald the start of a new bullish move.
In addition, GT also attracted attention with an impressive growth of 98.10% in the past month. Its price trajectory suggests this uptrend could strengthen in April. Meanwhile, CAKE is poised to hit its highest price since May 2022, presenting a compelling case for investors looking for profitable opportunities beyond Bitcoin.
ALGO has just formed a "Golden Cross"
Currency: Algorand (ALGO)
Price: 0.27 USD
Market Capital : 2.26 billion USD
Algorand is a decentralized, secure and scalable platform for digital currencies and smart contracts. Leveraging a variant of Proof-of- Stake (PoS) called Pure PoS (PPoS), its protocol ensures network security and achieves consensus for block production.
ALGO prices have increased nearly 17% this year. Although its growth is still slower than other coins, ALGO may be ready for a major bull run, as its 4-hour price chart just formed a “Golden Cross.”
ALGO 4H price chart and EMA. Source: TradingView .
A Golden Cross is XEM a bullish signal, occurring when the short-term EMA crosses above the long-term EMA. This event is considered a positive sign, suggesting that the market may be shifting from a downtrend to an uptrend, indicating long-term growth potential ahead.
If the uptrend continues, ALGO is likely to test the previous resistance at $0.32. If that level is broken, Algorand could continue to rise to test the next resistance at $0.41 in April.
GT is gaining momentum
Currency: GateToken (GT)
Price: 10.10 USD
Market Capital : 1.33 billion USD
GateToken (GT) Vai as the utility Token of the Gate.io trading platform, created to enable a multitude of functions and services within its ecosystem. Users who hold GT can use the Token to cover trading fees, participate in Pre-Sale, gain access to unique features and promotions, and benefit from discounts and rewards .
GT is just 22.19% below All-Time-High (ATH) reached on May 12, 2021. The coin has gained 98.10% over the past month, reaching a price of $10 for the first time as of May 10, 2021.
GT 4H price chart and EMA. Source: TradingView .
GT 4H chart shows an uptrend. The EMAs for the 20, 50, 100 and 200 periods align in a bullish pattern.
The price candlestick is still above the 20 EMA. This confirms the trend, showing that buyers are in charge. The pattern of higher lows and higher highs also signals an uptrend.
If this trend holds, GT could retest the old high of $12.83 in April. Technical signs and market activity point to bright prospects for GT in the short to medium term.
CAKE is on track to reach its highest price since May 2022
Coin: PancakeSwap (CAKE)
Price: 4.64 USD
Market Capital : 1.15 billion USD
PancakeSwap is a decentralized finance (DeFi) platform where users can engage in cryptocurrency trading, earn rewards through Staking and farming, participate in lotteries, and have a say in governance choices . It runs on Binance Smart Chain, with an emphasis on reduced transaction costs and fast processing. CAKE is its native currency.
CAKE rose 48.54% last month, but is still 89.42% below its ATH set in April 2021. This shows that CAKE has a lot of room to grow.
CAKE 4H price chart and EMA. Source: TradingView .
CAKE's 4-hour chart shows an uptrend. The short-term EMAs (20 and 50) are above the long-term EMAs (100 and 200). This signals ongoing momentum. CAKE's price is near resistance at $5.03. A break above it could extend the uptrend. This is due to the bullish EMA setup. EMA may provide support if the price declines.
CAKE targets a May 2022 peak of $7.71. It needs to maintain the bullish trend to achieve the target. If it breaks above $5.03, that level could become new support. However, investors should still be cautious. The path to $7.71 has a number of resistance levels to overcome. Each resistance level can test the strength of the uptrend.
