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Technical indicators for the whole market cap, excluding Bitcoin, are optimistic. Here are some of the key crypto forecasts for April 2023.
Altcoins: It’s Time to Outperform
Due to this year’s robust BTC price growth, the whole crypto market cap, except for Bitcoin, has underperformed. Altcoins may be about to take off in April 2023, according to several promising technical breakthroughs.
The weekly timeframe shows a bullish MACD price divergence that has gone unnoticed. This optimistic divergence indicates that the total market capitalization of cryptocurrencies, excluding Bitcoin, may potentially reach $710 billion, resulting in a gain of 17.94% by the year-end.
The whole crypto market cap grew by 54.45%, from $1.1 trillion to $1.7 trillion when William’s Alligator indicator’s most recent buy signal was activated.
The potential for altcoins to experience exponential growth is highlighted if this signal begins to heat up once more.
Surprise: April 2023 Binance Coin (BNB) Price Forecast
In light of the latest legal action filed by the US Commodity Futures Trading Commission (CFTC) against the crypto exchange and its CEO, Changpeng Zhao, Binance Coin (BNB) has experienced a major unfavorable impact. Nevertheless, if traders believe that a particular cryptocurrency will continue to fall in value, they may expect the opposite result, especially when the market as a whole is rising.
On-chain analytics say that BNB’s Price Adjusted Daily Active Addresses divergence is currently positive and reaches $420.
Higher Highs: April 2023 Shiba Inu (SHIB) Price Prediction
The price of Shibu Inu (SHIB) is still doing poorly. Nonetheless, a current on-chain development might portend the beginning of a coming bull run for this meme coin.
Based on the Santiment data, the TAC (Token Age Consumed) indicator calculates how many tokens have changed addresses since their last move and multiplies that figure by the date on which the changes occurred.
On March 20, SHIB had the year’s biggest rise in Token Age Consumed. A vast token amount transferring after an inactive period is indicated by spikes on the graph.