The Biggest Crypto Predictions for April 2024

Analysis3wks agoUpdate 6086cf...
59 0

In Brief

  • Bitcoin price is expected to mark a new all-time high with the halving around the corner.
  • Solana price could make a run to $250 given the rising institutional interest and performance of its DEX Jupiter.
  • Fantom is projected to dive by 20% in the coming month, owing to the first bearish signal in two months.

April is expected to be a big one for the crypto market as a major event in the Bitcoin (BTC) halving is scheduled. This will also have an impact on other assets, such as Solana (SOL) and Fantom (FTM).

BeInCrypto looks at the ongoing market movements and where you can expect these assets to land.

Bitcoin Will Likely Climb to $77,000

Bitcoin price marked a fresh all-time high of $73,750 earlier this month, and since then, the cryptocurrency has been on a decline. This resulted in the cryptocurrency forming a flag pattern on the 4-hour chart. The cryptocurrency broke out of the pattern earlier this week and is presently trading at $70,151.

Per the bullish flag pattern, the target price is set at almost $77,000, which will be achieved as long as the $69,715 support line is sustained.

The Biggest Crypto Predictions for April 2024
BTC/USDT 4-hour chart. Source: TradingView

This outcome is very likely since Bitcoin halving is scheduled to take place on April 22. The anticipation ahead of the event will drive prices higher, potentially validating the pattern as well.

Read More: 7 Best Crypto Exchanges in the USA for Bitcoin (BTC) Trading

However, if the support of $69,715 is lost, there is a good chance Bitcoin price could slip back to $66,500, effectively invalidating the bullish thesis.

Solana (SOL) to Make It Big Thanks to Two Major Factors

Solana’s price is among the best-performing cryptocurrencies in the market at the moment, and this growth is only going to snowball in April. The reason behind this is the support SOL is receiving from institutional investors.

Per the CoinShares weekly netflows report, Solana outperformed every other altcoin, including Ethereum, to emerge as the institution’s preferred asset, noting $18 million worth of inflows this month.

Additionally, Solana-based DEX Jupiter performed exceptionally this month. The decentralized exchange rose to become the biggest DEX in the market based on volume, pushing the monthly DEX total transaction volume to a new all-time high of $241.97 billion.

Thus, Solana’s price will likely witness the influence of these developments to propel itself beyond $200. Furthermore, SOL is already testing the 61.8% Fibonacci Retracement as support, which is also known as the bull run support floor.

The Biggest Crypto Predictions for April 2024
SOL/USDT 1-week chart. Source: TradingView

This could push the altcoin to note a 35.88% rally and tag the resistance at $250.

Read More: 13 Best Solana Meme Coins to Watch in 2024

Nevertheless, losing the $186 support floor could cause a decline to $164, essentially eliminating the possibility of a rally.

Fantom (FTM) Will Take the Bearish Route

Fantom price is not expected to rise in the coming month, unlike the rest of the assets on this list. The reason behind this is that FTM is poised for a 20% correction according to the parabolic curve pattern.

Per the pattern, a drawdown to the base 3 price level is expected, given FTM failed to breach the $1.12 resistance.

The Biggest Crypto Predictions for April 2024
FTM/USDT 1-daychart. Source: TradingView

Substantiating this outcome are the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD). These indicators highlight bearishness taking precedence, with the latter noting a bearish crossover for the first time in two months.

The Biggest Crypto Predictions for April 2024
Fantom RSI and MACD. Source: TradingView

Thus, FTM will probably witness a drawdown where it will lose the $0.80 support and decline further.

Read More: 9 Best Fantom (FTM) Wallets in 2024

However, should Fantom’s price bounce back from the base 3 support range, it would have a shot at invalidating the bearish thesis.

This article is sourced from the internet: The Biggest Crypto Predictions for April 2024

Related: This Is the Reason Why COTI Price Doubled in a Week

In Brief COTI’s price surged over 100% in the past week, following the introduction of a privacy-enhancing feature known as Garbled Circuits. This advancement boasts significant speed and efficiency improvements over existing encryption methods and aligns with the roadmap. However, caution is advised in trading the COTI token due to its current high volatility, with analysts urging a focus on longer timeframes. COTI has seen its value surge significantly during the past week thanks to the notable developments within its ecosystem. Indeed, COTI experienced a remarkable surge of over 100%, climbing to a peak of $0.21 at the time of reporting. Why COTI Price Doubled This surge correlates with the recent unveiling of a privacy-enhancing feature on the COTI blockchain, Garbled Circuits. On February 20, the Foundation announced a breakthrough…


© Copyright Notice

Related articles

No comments

You must be logged in to leave a comment!
Login immediately
No comments...