Be[In]Crypto presents its 10 most promising altcoins for April 2022 – BeinCrypto

Be[In]Crypto takes a look at 10 altcoins showing promising developments for the month of April.

Swipe (SXP)

  • Current price: $1.56
  • Market cap: $747 million
  • Ranking by market capitalization: n° 106

Swipe is a platform that has as its main objective to connect the worlds of fiat money and cryptocurrencies. It does this by partnering with payment networks and creating card programs that make it easy to transfer cryptocurrencies to fiat and vice versa.

Its three main offerings are an e-wallet, a debit card, and its native token, SXP. The latter is part of the decentralized finance (DeFi) sector.

Many new updates are expected this month, such as the release of mobile and web wallets as well as the deployment of the Solar Side Ledger protocol on the mainnet.

Regarding the price action of the altcoin, the SXP has regained a size level located at $1.45 after generating numerous bullish divergences.

The next resistance zone is located at $2.90.

Chart by TradingView

Axie Infinity (AXS)

  • Current price: $62.81
  • Market cap: $3.82 billion
  • Ranking by market capitalization: No. 44

AXS is the native token of Axie Infinity, a non-fungible token (NFT) play to earn game. This token is used for governance, staking, and breeding within the game. Breeding is the process by which new Axies (playable characters) are created.

Despite the March 29 hack, the game land gameplay and V3 of Axie new origins are expected to roll out this month. Thus, the AXS token may soon find itself with many new use cases.

On March 16, AXS price broke above a descending resistance line but failed to break above the resistance zone located at $68 (red circle). He is currently trying to find support.

AXS Breakthrough
Chart by TradingView

Cosmos (ATOM)

  • Current price: $26.66
  • Market cap: $8.20 billion
  • Ranking by market capitalization: No. 22

Cosmos offers an ecosystem of interconnected blockchains, in order to improve the speed and scalability of its protocol, as well as to increase the interconnection between blockchains. It also aims to simplify blockchain technology for the masses. The project white paper was published in 2016.

Its native token is ATOM, which is earned with a hybrid proof-of-stake algorithm. Version 8 of the mainnet upgrade, called Rho, will roll out this month.

ATOM’s price has been rising inside a parallel ascending channel since March 14th, and is currently trading in the middle of this channel. There are no clear signs of upside or downside yet.

ATOM Channel
Chart by TradingView

EOS (EOS)

  • Current price: $2.77
  • Market cap: $2.73 billion
  • Ranking by market capitalization: No. 49

EOS is a platform that focuses on building decentralized applications (dApps). Its goal is to make it as easy as possible for programmers to use blockchain technology. The platform was launched in 2018 and its native token is EOS.

The EOS platform has not seen a notable update since EOSIO 2.0 in 2020. However, the situation is expected to change this month with the release of Mandel 2.3.

The price of the EOS token has been moving along an ascending support line since March 14. This line coincides with the $2.72 horizontal support zone. Due to this confluence of supports, this area is likely to put an end to any potential short-term declines.

Support line of EOS
Chart by TradingView

Kava.io (KAVA)

  • Current price: $4.41
  • Market cap: $738 million
  • Ranking by market capitalization: n° 109

Kava.io is a DeFi lending platform that provides its users with the ability to lend, invest, and earn assets. The platform also supports cross-chain interactions.

Its native token is called KAVA, and is used for staking as well as securing the platform.

The KAVA foundation will be launched this month. It is a non-profit advisory body that offers strategic advice to the KAVA community and its Decentralized Autonomous Organization (DAO).

On March 28, the price of KAVA broke through a descending resistance line in place since August 30. He is currently trying to validate it as support.

If successful, the next resistance would be located at $5.60.

Advancement of the KAVA token
Chart by TradingView

Elrond (EGLD)

  • Current price: $191.81
  • Market cap: $4.17 billion
  • Ranking by market capitalization: n° 38

Elrond is a protocol that offers extremely fast transaction speeds thanks to its unique sharding mechanism, named “adaptive state sharding“. This mechanism manages to combine three different types of sharding and improve how they communicate with each other.

The native token of the platform is EGLD. Its three main objectives are:

  1. Staking
  2. Pay fees within the network
  3. Reward validators

This month, the protocol will launch the Web3 metabondage. This update will allow projects that rely on this protocol to create long-term engagement with community members by distributing approximately 10% of their supply to EGLD token stakers.

The price of EGLD has been trending upward since January 22. Currently, it is making a second attempt to break through the $200 resistance zone. It is possible that the price of EGLD is also inside an ascending triangle, which is considered a bullish pattern.

If it were to break above this figure, the next resistance would be at $295.

Movement of the EGLD token
Chart by TradingView

Reserve Rights (RSR)

  • Current price: $0.021
  • Market cap: $312 million
  • Ranking by market capitalization: No. 180

RSR is a dual-token stablecoin platform, which aims to combat the effects of inflation. It uses the Reserve (RSV) stablecoin and the Reserve Rights (RSR) token. The latter uses an arbitrage system that serves to keep the price of the former at $1. The RSV token is backed by a collection of cryptocurrencies and other miscellaneous assets.

the new protocol should be launched shortly.

The price of the RSR token broke above a descending resistance line on March 16 and is currently trying to break through the $0.0173 resistance zone. If successful, the next resistance would be at $0.0275.

RSR Breakthrough
Chart by TradingView

Cash (NMR)

  • Current price: $30.92
  • Market cap: $182 million
  • Ranking by market capitalization: n° 288

Numerai is a platform based on Ethereum (ETH), and its native token is called Numeraire (NMR). It allows developers to create machine learning models, which are then used on the platform. Thus, the main objective of Numerai is to bring decentralization to the fields of machine learning and data science.

The platform was founded in 2015.

The Numercon conference was held on Friday, April 1.

The price of the altcoin NMR has been rising since January 23 and broke above a falling resistance line on February 23. If the bullish move continues, the next resistance zone would be at $47.

Breakthrough of the NMR
Chart by TradingView

Secret (SCRT)

  • Current price: $5.33
  • Market cap: $869 million
  • Ranking by market capitalization: n° 94

Secret Network is a blockchain whose main purpose is data privacy. It is built on the Cosmos blockchain.

The native token of the platform is the SCRT. Beyond the fact that it reduces network fees, it can also be staked in order to generate rewards.

The update of Alpha mainnet will be launched this month.

SCRT’s price has been moving inside a long-term symmetric triangle since November 2021. It bounced off its support line on March 18 (green arrow) and has been steadily rising ever since.

The nearest resistance zone is at $7.

Triangle Figure of SCRT
Chart by TradingView

Odin Protocol (ODIN)

  • Current price: $0.092
  • Market cap: $1.6 million
  • Ranking by market capitalization: n° 1576

Odin Protocol is a decentralized ecosystem that was launched on April 21, 2021. Its native token is ODIN, of which 100 million units were initially created and 20% of which are expected to be burned.

Several novelties are expected in the second quarter, including:

  • Geographical integration
  • Wrapped NFTs
  • Price fee
  • A game to win

ODIN token price consolidated above the $0.085 horizontal area and broke above a descending resistance line.

ODIN

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Be[In]Crypto presents its 10 most promising altcoins for April 2022 – BeinCrypto


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