In this article, I will take a look at five Altcoins that have a rather small market cap and I believe have some potential in the month of April. I will look at relevant news and recent price movements. Please note, this isn't financial advice and also always do your own research!
CAKE is the governance token for PancakeSwap which is a decentralized exchange (DEX) built on top of the Binance Smart Chain. It is the biggest Automated Market Maker (AMM)-based exchange on that smart chain and has been getting a lot of positive coverage recently.
We put CAKE first because its chart is at a critical point. The price at the time of recording is exactly at its all-time high and may manage to go above it.
But even if it doesn’t grow rapidly, we still see a solid uptrend that has been going on for a month.
Next up we have OVR. Their goal is to provide the decentralized infrastructure for the spatial web, merging the physical and virtual worlds through augmented reality. The OVR token is used for governance and exchange of value on the platform. Let’s take a look at the chart of OVR, where we have seen a battle of two trends.
After reaching an all-time high just over $3, the price fell by about 50%. But that’s still not enough to discount the underlying upward momentum, which could be boosted by any new developments from the OVR team.
Verasity with their VRA token is third on our list. It is a video sharing platform designed to pivot the online video ecosystem. It hopes to do this by enabling a direct and transparent relationship between viewers, content creators, and advertisers.
Its chart has been getting a lot of attention recently, which should be rather evident.
Although it followed the pattern of large cap cryptos, it actually increased ten-fold, in the last couple of months. It did break below its trendline. However, there could be a swift recovery if the price rises above the identified resistance level of $0.054.
Vechain is a blockchain-enabled platform designed to enhance supply chain management processes. It provides retailers and consumers with the ability to determine the quality and authenticity of products they buy.
The chart of the Vechain token paints a familiar picture, but it caught our eye because of a sharp recovery it made last Friday.
The thin line represents the price movement before the weekend. The drop almost touched the uptrend, but when it came close it, quickly moved back up. This could be interpreted as a strong bullish signal and a signal for the strength of its momentum.
The final place on our list is for Kyber with the KNC token. It stands for Kyber Network Crystal and it is the governance token for the Kyber Network. The Kyber Network is a decentralized, blockchain-based protocol. It facilitates the exchange of tokens without an intermediary and provides liquidity for decentralized finance (DeFi) applications. It powers the Swap application and a decentralized exchange.
The reason its chart appeared on our radar is because of а chart pattern that technical analysts love – multiple higher highs and higher lows.
It’s definitely a chart to watch, because if the bullish momentum continues, then a new test of the all-time high at $4.33 could be in the cards.
That's it for my roundup! What altcoins do you think are going to have a great April and why? If you enjoy this sort of content, consider following me and also tipping the article.
Also if you are on Twitter, I am currently holding a Bitcoin Giveaway, where you have the chance to win $500 worth of BTC. You can check it out on the pinned message on my Twitter - https://twitter.com/dizzlecrypto.
Until next time, stay classy!