The past seven days have passed on the crypto market as the ship that was stuck in the Suez Canal, which, fortunately, ended well.
The market has returned to rebound led by Bitcoin, here are the top five cryptocurrencies that should be watched in April:
Bitcoin (BTC):
It goes without saying, which is often followed by the crypto market wherever it goes.
Last week, we saw an exciting announcement from Tesla, where the giant electric car manufacturer revealed that users can now pay in bitcoin for a Tesla car.
Elon Musk tweeted about it, and so the market went up.
Unfortunately, the rally was unsustainable, as soon after, the BTC slumped to nearly $ 50,000.
This is where Bitcoin found strong support and started to rally as it is currently trading at around $ 57,600.
Bitcoin BTC has already breached the first serious resistance at $ 55,000 and appears poised to breach $ 57,700 after that.
If it succeeds in closing above it, we can expect to test the coveted $ 60K level and get a fresh high of around $ 62K after that.
Cardano (ADA):
Next on the list of cryptocurrencies worth watching in April is the ADA digital currency.
Cardano has been among the best performing digital currencies over the past two months.
Now, many see the ADA rush as just a guesswork because Cardano doesn't really have smart contract potential yet.
Charles Hoskinson, founder of Cardano, took it upon himself to refute the argument that Cardano lacks the basics of smart contracts and explained the many partnerships Cardano already has, in addition to the strong basis for the protocol.
It also set out a schedule for the test network that will allow users to build and deploy smart contracts on Cardano.
With all of the above in mind, the price is exactly what it was a week ago.
In fact, the currency was affected and fell to $ 1.06 and recovered quickly and decisively.
Over the past few days, the ADA digital currency has been somewhat consolidating and preparing to rally, and it is interesting to see the next breakout trend.
Binance Currency (BNB):
Binance made headlines this year, making some impressive gains, after jumping to around $ 350.
Over the past two weeks, the BNB cryptocurrency has traded in a range between $ 290 and $ 240.
However, looking historically, cryptocurrencies have never really wanted to trade in a range for an extended period of time.
In other words, a breakout could happen soon.
Also, the first quarterly burn of 2021 is approaching, which could act as a catalyst for the currency.
The past few months have been particularly volatile, and Binance has likely seen huge returns.
This means the burn is likely to be significant in the first quarter of 2021.
It appears that reducing the supply of the third-largest cryptocurrency by market value is something to keep in mind, in the last days of March and beginning of April.
Also, the Binance Smart Chain blockchain is showing no signs of slowing down.
Given that BNB is the primary cryptocurrency that users deal with, this creates additional demand for it.
Currency (UNI):
Uniswap is currently the leading platform for decentralized trading and for the automated market maker as well.
The governance token UNI, which was previously distributed free of charge to people who used the uniswap decentralized trading platform last year, is currently trading the uni coin at $ 28, which means that the 400 UNI coins acquired by most people are currently worth roughly From $ 12,000.
Over the past seven days, UNI has lost some of its value, down from around $ 32.
However, on March 24th, we signaled in Bitcoin Al Arab about the much-anticipated launch of Uniswap v3, which carries a fundamental update aimed at transforming the decentralized trading platform DEX into a more flexible and capital-efficient automated market maker.
Therefore, it is likely that we will see positive movements in the currency coinciding with the announcement of the update.
Solana coin (SOL):
Solana offers a scalable blockchain infrastructure that features very large number of transactions per second and extremely low transaction fees.
Compared to the exorbitant Ethereum fees and slow transaction processing, many are looking for alternatives, often settling on the Solana blockchain.
Perhaps this is the reason why Solana is one of the most popular projects in 2021.
In terms of price, SOL cryptocurrency is one of the best performing cryptocurrencies in 2021.
On January 1, the cryptocurrency was trading at around $ 0.55.
The currency is currently priced at around $ 18.6, meaning a total return of close to 3,200%.
It is worth noting that the SOL cryptocurrency is showing no signs of slowing down, and with the current euphoria around DeFi and NFT, its next move should definitely be noticed in April.
