As April comes to an end, many altcoins are showing an upward trend, especially over the past 7 days, thanks to Bitcoin's rise to $95,000. Some major tokens are expected to show strength in May due to various factors.
BeInCrypto analyzed three altcoins that investors should pay attention to in the last few days of April. They are preparing significant developments.
Binance Coin (BNB)
BNB is currently showing positive performance and is expected to see additional gains due to the Lorentz hard fork this week. This upgrade, scheduled to go live on April 30th, will provide faster blocks to the chain, potentially increasing network efficiency and supporting the altcoin's price rise.
Breaking out of a two-and-a-half-month downtrend, BNB is currently trading at $606. The altcoin is attempting to break through the $618 resistance, and if successful, it could leverage the Lorentz upgrade's momentum. This would pave the way for a potential rise to $647.
If BNB fails to break through the $618 resistance, the downtrend could continue, with the price potentially falling below $600. In this case, BNB could find support at $576, which would invalidate the bullish outlook. Monitoring the $618 level is crucial for assessing the altcoin's future path.
Kaspa (KAS)
KAS rose 27% last week, invalidating the Ichimoku Cloud's bearish signal. Currently trading at $0.099, this altcoin is approaching a critical $0.103 resistance level. If this momentum continues, KAS could break through and establish a new bullish trend.
The upcoming Crescendo upgrade is expected to further boost KAS's positive momentum. The mainnet activation is set to increase the network's transaction capacity tenfold to 10 blocks per second (BPS), which could play a crucial role in driving price appreciation and investor interest.
If the Crescendo upgrade meets expectations, KAS could rise to $0.112 and potentially reach $0.120. However, if KAS fails to break through the $0.103 level, the altcoin could decline. Falling below $0.092 could see the price move to $0.083, which would invalidate the current bullish outlook.
Aave (AAVE)
Another altcoin to watch in the last week of April is Aave (AAVE). It recorded a strong 22% rise this week, becoming one of the best-performing altcoins. Despite the impressive surge, the current price movement suggests that Aave has not yet reached its peak. The altcoin has room for further appreciation, backed by strong market interest.
The Relative Strength Index (RSI) indicates that Aave is currently in a bullish zone but has not yet reached the overbought level of 70.0. Until this threshold is reached, Aave's price could continue to rise, potentially surpassing $180 and reaching $198.
However, if the bullish momentum weakens, Aave could fall below the $167 support level. In this case, the price could drop to $153, and if this support level breaks, Aave could decline to $126. Such movement would invalidate the current bullish outlook and potentially signal a trend reversal.
