• MINA price shows a bounce off the range low with a potential 34% upswing potential.
  • LRC price hovers inside an ascending triangle setup that forecasts an 18% move after a successful breakout.
  • AVAX price breached its ascending triangle setup on April 4 and is targeting $20 based on theoretical forecasts.

With Bitcoin dominance slowly treading lower, things are starting to get interesting for altcoins. While some of these alts are already popping off, this article takes a look at three tokens that are primed for healthy gains.

Also read: Why Vitalik Buterin is bullish on ZK coins

MINA price takes the necessary steps 

MINA price shows two important developments, both of which are bullish. The first thing to note is that the token bounced off the $0.705 support level for the third time, which kick-started the initial rally. 

Since this retest, MINA price has appreciated by 10% and is on its way to retest the next critical hurdles at $0.969 and $1.045. The buy-side liquidity resting above the equal highs at $1.045 will be a key target for bulls and will constitute a nearly 35% upswing from the current level.

MINA/USDT 4-hour chart

MINA/USDT 4-hour chart

On the other hand, a breakdown of the $0.705 support floor would invalidate the bullish thesis for MINA. This development could see Mina Protocol revisit the March 13 lows at $0.669. 

LRC price coils up before northbound explosive move

Loopring price shows an ascending triangle formation on the four-hour chart. This technical formation contains a set of higher lows and equal highs. As the consolidation ensues, the  underlying asset’s volatility, in this case, LRC, gets squeezed

A decisive close above the triangle’s base at $0.370 will confirm a breakout. In this case, the ascending triangle formation forecasts an 18% upswing to $0.437, obtained by adding the distance between the first swing high and swing low to the breakout point. 

LRC/USDT 4-hour chart

LRC/USDT 4-hour chart

Invalidation of the bullish thesis for Loopring price will occur if LRC bulls fail to defend against sell-side pressure. If the altcoin produces a lower low below the March 30 swing low at $0.344, the market structure would shift, favoring the bears. Such a development could see LRC crumble to March 22 swing low at $0.320. 

AVAX price confirms bullish breakout

AVAX price was also consolidating inside an ascending triangle setup but breached the horizontal blockade at $17.78 on April 4, confirming a breakout. Due to the short-term bearish outlook, Avalanche price has retraced lower and is currently retesting the aforementioned resistance level.

If bulls are successful in holding their ground, the ascending triangle setup forecasts a 12% ascent to $20.12, coinciding with the 79% retracement level.

AVAX/USDT 4-hour chart

AVAX/USDT 4-hour chart

While the bullish outlook is logical, investors need to pay close attention to the support level at $17.00. A breakdown of this level would invalidate the ascending triangle setup and the bullish thesis for AVAX price. 

In such a case, Avalanche price could slide lower and retest the $15.49 support floor.


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Polygon joins forces with WSPN to expand stablecoin adoption

Polygon joins forces with WSPN to expand stablecoin adoption

WSPN, a stablecoin infrastructure company based in Singapore, has teamed up with Polygon Labs to make its stablecoin, WUSD, more useful in payment and decentralized finance.

More Cryptocurrencies News
Coinbase envisages listing of more meme coins amid regulatory optimism

Coinbase envisages listing of more meme coins amid regulatory optimism

Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.

More Crypto News
Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

Cardano's ADA leaps to 2.5-year high of 90 cents as whale holdings exceed $12B

As Bitcoin (BTC) gets closer to the $100,000 mark for the first time — it crossed $99,000 earlier Friday — capital is rotating into alternative cryptocurrencies, creating a buzz in the broader crypto market.

More Bitcoin News
Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu holders withdraw 1.67 trillion SHIB tokens from exchange

Shiba Inu trades slightly higher, around $0.000024, on Thursday after declining more than 5% the previous week. SHIB’s on-chain metrics project a bullish outlook as holders accumulate recent dips, and dormant wallets are on the move, all pointing to a recovery in the cards.

More Shiba Inu News
Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin: Rally expected to continue as BTC nears $100K

Bitcoin (BTC) reached a new all-time high of $99,419, just inches away from the $100K milestone and has rallied over 9% so far this week. This bullish momentum was supported by the rising Bitcoin spot Exchange Traded Funds (ETF), which accounted for over $2.8 billion inflow until Thursday. BlackRock and Grayscale’s recent launch of the Bitcoin ETF options also fueled the rally this week. 

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP