CoinEfficiency

Top Altcoins to Watch in April for Bullish Momentum

Explore the potential bullish recoveries of SOL, LINK, and XRP as they gear up for April's altcoin market movements.
Published on 2023-04-01

SOL's Potential Breakout

Solana (SOL) has been under a persistent downsloping trendline since last May. This trendline has led to an aggressive downtrend for the altcoin. However, a breakout from this trendline could signal a potential trend reversal. If successful, SOL could target price points of $26, $38, or even $48. Currently, SOL trades at $21, positioning it for a possible bullish recovery.

XRP's Bullish Reversal Pattern

XRP shows promise with a double bottom pattern forming on its weekly chart. This pattern is a well-known bullish reversal indicator, suggesting active accumulation by traders. Currently, XRP holds a support base around $0.31, with local resistance between $0.43 and $0.415. Breaking past this resistance could result in a 20% rally, potentially challenging the next resistance at $0.55.

LINK's Growing Momentum

Chainlink (LINK) has been trading within a range, between a buying climax of $9.5 and a selling climax of $5.5. Despite this sideways movement, LINK's weekly RSI slope is rising, indicating growing bullish momentum. This divergence suggests a potential price movement beyond the $9.5 resistance, hinting at a trend reversal for LINK.

These altcoins, SOL, XRP, and LINK, demonstrate potential for bullish recoveries as April approaches. Investors are advised to conduct thorough research and due diligence before making investment decisions.

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