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Amid growing uncertainty in the cryptocurrency market, some alternative coins continue to show promise. While most major cryptocurrencies are showing signs of a price correction, this could allow buyers to accumulate funds at lower prices. Here are 3 altcoins that are likely to continue their upward trend in April 2023
Solana (SOL)
SOL prices have been experiencing a steady decline since May 2022 under the influence of a downward sloping trendline. This favorite altcoin has demonstrated several unsuccessful attempts to break out of this trend line.
As of this writing, SOL is trading around $19.89 and has fallen 5.06% in the last 24 hours. Although the above trend line is currently leading an aggressive downtrend, a possible break above this level would be an important trend reversal signal.
Depending on market sentiment, a post-breakout rally could push SOL prices to $26, $38 or $48, respectively.
Ripple (XRP)
With a range of $0.31 to $0.3 as key support, the XRP price exhibits a double-bottom pattern on the weekly chart. This is a well-known bullish reversal pattern that indicates that traders are actively accumulating funds.
During the recent rally in the cryptocurrency market, the price of the most popular altcoin recently reached a local resistance point located between $0.43 and $0.415. This bullish move could push the price 20% higher to reach a resistance point located at $0.55.
It is likely that XRP prices will reach this level under the influence of the double bottom pattern.
Chain Link (LINK)
On the weekly time frame, the LINK price shows a clear sideways trend. Over the past ten months, the price of this popular altcoin has traded between a buy peak of $9.50 and a sell peak of $5.50.
However, despite this sideways trend, the weekly RSI slope has climbed higher, indicating potential bullish momentum is on the rise. This bullish divergence suggests that the LINK price has the potential to break through a resistance point located at $9.50.
Moreover, if the altcoin price returns to the $5.50 level, investors could find a good entry opportunity.
Rao Cash Analytical Expertise: Event Context
The latest data presented in Watch out for these 3 altcoins in April: a rally that can make investors smile! clearly reflects the ongoing shifts in the balance of power within the global cryptocurrency market. The Rao Cash information portal monitors these market triggers 24/7, delivering high-quality crypto news, real-time on-chain statistics, and expert blockchain industry insights to our audience. We assist readers in promptly identifying long-term trends while filtering out speculative noise and market manipulation.
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