As April comes to an end, many altcoins are enjoying positive movements, especially over the past seven days, thanks to Bitcoin's price rise to $95,000. Accordingly, some tokens are showing strong upward trends in May due to various factors.
This article will analyze three altcoins that investors should pay attention to in the last days of April as projects prepare for significant developments.
BNB
BNB is currently demonstrating positive performance, with expectations of continued price increase this week due to the upcoming Lorentz hard fork event. The upgrade is expected to be implemented on April 30, providing faster blocks for the chain. This will enhance the network's performance and support potential price increases for Binance's altcoin.
After breaking free from a prolonged 2.5-month downtrend, BNB is currently trading at $604. This altcoin is aiming to break the resistance level of $618, and if successful, it could leverage upward momentum from the Lorentz upgrade. This would set the stage for potential growth up to $647.
BNB Price Chart | Source: TradingView
If BNB fails to break the resistance level of $618, the price may decline and even drop below $600. In this scenario, BNB would find support at $576, invalidating the bullish outlook. Monitoring the $618 level will be crucial in assessing the trajectory of this altcoin in the coming days.
Kaspa (KAS)
Kaspa (KAS) rose 15% in the past week, eliminating bearish signals from the Ichimoku Cloud. Currently, KAS is trading at $0.097 and is approaching the critical resistance level of $0.103. If the upward momentum continues, KAS may surpass this level and establish a new bullish trend.
The upcoming Crescendo upgrade is expected to further boost positive momentum for KAS. With the activation of the mainnet increasing the network's transaction processing capacity to 10 blocks per second (BPS), this event could play a crucial role in driving prices up and attracting investor interest.
KAS Price Chart | Source: TradingView
If the Crescendo upgrade meets expectations, KAS could rise to $0.112, potentially reaching $0.12. However, if KAS fails to surpass $0.103, this altcoin may decline. Falling below $0.092 would push the price down to $0.083 and invalidate the current bullish outlook.
Aave (AAVE)
Another notable altcoin in the last week of April is AAVE, which surged 17% this week and has become one of the best-performing altcoins. Despite the impressive rise, the current price action indicates that AAVE has not yet reached its peak. This altcoin still has room to continue moving upwards, thanks to strong market interest.
The Relative Strength Index (RSI) indicates that AAVE is currently in a bullish zone but is still far from the overbought level of 70. With ample room before reaching this threshold, the price of AAVE could continue to rise, surpassing $180 and reaching $198.
AAVE Price Chart | Source: TradingView
However, if the upward momentum weakens, AAVE may drop below the support level of $167. In this case, the price could fall to $153 and even $126 if this support level is broken. Such a move would invalidate the current bullish outlook, signaling the risk of a trend reversal.
You can view the coin price here.
Disclaimer: This article is for informational purposes only and not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.