These 2 altcoins have the potential to start a boom in April







Over the past week, some altcoins have created bullish patterns and started moving upwards, reaching the previous high.


Combined with the decline of Bitcoin's dominance rate, we can see many altcoins start to increase rapidly, including RVN and ADA.


RVN


Trader SV tweeted the chart about RVN and surprisingly has its potential for future price increases. Although the price is currently at an all-time low, he posted a long order setting that provides a Risk: Reward ratio of almost 1:20. However, the price has not reached the high of the 900 satoshi target since 2019, so the upward move that drives the price to this target is somewhat compelling.




“RVN 1 day


With RVN right now, it's hard to keep from looking at this chart. Prices will rise sharply. ”


Observing the daily chart, RVN has been trading inside the descending channel since July 2019. After reaching the support line on March 13, the price has created a very significant bullish divergence in the daily RSI.


This shows that prices are likely to rise higher and reach resistance at 370 satoshi.


altcoin-rvn


In the short term, RVN is heading the descending resistance. Therefore, the anticipated increase could occur as soon as the price breaks out of this line.



You can see the RVN price here.


ADA


The well-known Trader Trader mentioned another altcoin that is equally advanced as ADA, as it has flipped the critical area that once provided resistance and has the main moving average (MA).




“Flip the horizontal support + EMA 200 ”.


The long-term prospect for ADA is extremely optimistic. The price has reached the support area of ​​440 satoshi for the fifth time and combined with a strong bullish divergence in the weekly RSI. Also, every time the price reaches this area, the ADA creates a lower long wick and moves upwards.


Divergence in the RSI of such a high time frame is uncommon and very often leads to sustained increases.


altcoin-ada2


In the short term, the price is breaking out of the descending resistance line.


altcoin-ada2


Therefore, the likelihood of price increases is very high, at least until the resistance area of ​​620 satoshis is reached and potential higher levels.


You can see the ADA price here.


Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


Minh Anh


According to Beincrypto








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