Altcoins, which, in our opinion, have grown significantly and deserve your attention in April. Will their growth continue?
- Solana (SOL) - 51.74%
- PancakeSwap (CAKE) - 38.44%
- Polygon (MATIC) - 37.62%
- Celo (CELO) - 36.82%
- Compound (COMP) - 26.81%
SOL
SOL has risen rapidly since April 18, when it hit a low of $ 21,10. The move ended with a record high of $ 48,64 on April 25. This represents a 132% increase from the previous low.
Despite massive gains, technical indicators began to show weakness. The RSI triggered a bearish divergence within the overbought zone. The Stochastic Oscillator made a bearish crossover and the current high was reached right at the 4.618 external Fibonacci retracement from the previous fall, a potential reversal area.
If SOL declines, the next support levels will be found at $ 34,30 and $ 29,85.
CAKE
CAKE has been on the rise since it pulled out of the $ 18 area on April 20,50 and confirmed it as support.
On April 26, the CAKE price reached a new all-time high of $ 34,88. This happened right on the short-term outside Fibonacci retracement of 1,61.
Technical indicators confirm the possibility of continued growth, as evidenced by the RSI crossing above 70.
The next resistance area is at $ 42,80.
MATIC
MATIC has been following the downtrend resistance line since March 11, when it reached an all-time high of $ 0,543.
After that, he began to follow the descending line of resistance. MATIC successfully broke out of this line on April 26 and has so far peaked at $ 0,538. This has created a potential double top pattern, although the technical indicators are bullish.
If MATIC falls, the nearest support area will be at $ 0,42.
PURPOSE
On April 24, CELO managed to break above the $ 5,45 resistance area. The next day, it confirmed this level as support and has continued to grow since then.
As long as CELO is trading above this level, the trend is considered bullish. The next nearest resistance area is at $ 8,65.
COMP
Since early February, COMP has struggled to rise above the $ 545 resistance area. Finally, on April 23rd, he managed to do so, and in the process, the price reached a new all-time high.
After the decline and confirmation of the support level, COMP started another upward movement.
Technical indicators support the continuation of this move.
The next nearest resistance areas are at $ 725 and $ 975.
