The impending Bitcoin halving in April has triggered a resurgence of institutional investments, contributing to a recent rebound in the crypto market. This uptick in sentiment is fueling increased risk appetite among investors, leading to substantial surges in meme coins and various alternative cryptocurrencies (altcoins).
As altcoins, including meme coins and AI-related projects, gain traction amid the broader market recovery, sidelined traders are considering long positions. Amidst this backdrop, attention turns to the leading cryptocurrencies: Bitcoin, Ethereum, and XRP. Will holders of these cryptocurrencies see gains in April?
Bitcoin’s Potential to Reach $100,000 This April
Bitcoin is displaying a bullish trend in its weekly chart, evident in the successful retest of a rounding bottom breakout. The cryptocurrency experienced a bullish end to the final week of March, marked by a 4.15% surge in price.
Despite a drop to $62,000 earlier in the month, the return of buyers indicates a potential bull run, with the recovery rally aiming to sustain levels above $70,000. Currently trading at $69,975, Bitcoin’s price movement has been sideways over the past four days.
However, a retest of the $65,000 mark coupled with a morning star pattern, as per Fibonacci levels, suggests the possibility of a significant jump. Additionally, Bitcoin’s challenge of the upper Bollinger band hints at a new rally.
Anticipation surrounding the upcoming Bitcoin Halving further fuels expectations of a bull run, with the 1.618 Fibonacci level suggesting a potential target of $95,952. Hence, there is optimism that Bitcoin could hit $100,000 by the end of April.
Ethereum’s Potential to Surpass $5,000 This April
As the second-largest cryptocurrency by market capitalization, Ethereum is rebounding amidst the market-wide recovery. Ethereum’s dominance above the $3,400 level is notable, with ongoing activity around the psychological threshold of $3,500.
A bullish comeback is evident from a long-tail weekly candle, indicating strong underlying demand for the altcoin. Ethereum’s refusal to close below $3,400 and the 61.80% Fibonacci level suggests resilience against sudden supply waves.
Currently, Ethereum’s price is caught between the 78.60% and 61.80% Fibonacci levels at $3,872 and $3,274, respectively. The direction of Ethereum’s trend will likely be shaped by a breakout on either side of these crucial boundaries. With optimism surrounding an altcoin season and potential breaches of the $4,000 barrier, April could end on a bullish note.
According to Fibonacci levels, Ethereum’s price could surge to a new all-time high above $4,868 and reach $5,000.
Is April the Month of Recovery for Ripple (XRP)?
Anticipation among sidelined traders for a breakout rally in XRP prices is met with uncertainty due to delays, amidst the soaring success of meme coins and other altcoins. The dream of XRP reaching $1 seems distant for many, although its ability to sustain above the 23.60% Fibonacci level amid bullish recovery is noteworthy.
Overcoming supply pressure at $0.60, XRP’s price hints at an imminent bounce back. With Bitcoin potentially rallying to $100,000 in April, XRP could benefit from additional momentum, potentially reaching the $1 mark and positioning itself as a high-potential token for the month.
What Lies Ahead for Bitcoin, Ethereum, and XRP Prices?
March has set a bullish stage for the crypto market, despite a brief dip in the middle. Looking ahead, April presents an opportunity for top cryptocurrencies like Bitcoin, Ethereum, and XRP to reach new peaks with significant gains. Therefore, now may be the opportune moment to consider investing in these leading cryptocurrencies.
