With the upcoming Bitcoin Halving event this month, the crypto market has started stabilizing, indicating an increase in the number of holders in the industry. Moreover, the crypto market will witness massive price volatility, resulting in crypto tokens experiencing significant fluctuations.
Following the halving event, major altcoins are predicted to regain momentum and prepare to move toward their new high, resulting in the crypto space experiencing a bull market. In this article, we have listed the top 3 altcoins that may outperform other tokens during Q2.
Ethereum (ETH):
After trading in a range between $100 and $250 for about a year, the ETH price displayed major price movements following the 3rd Bitcoin Halving. This further resulted in the altcoin adding over 2,610% in valuation within the next sixteen months, making it the leader of altcoins with the second-highest market cap in the crypto industry.
The Ethereum token is currently trading at a discount of approximately 30% from its previous ATH of $4,881.88, and considering the current market sentiments, the star altcoin is projected to test a new high by the end of this year, giving a return of over 42% from the current trading price of $3,427.
The Moving Average Convergence Divergence (MACD) displays a decline in the price action, indicating that the traders have started turning into investors and accumulating Ethereum tokens for the upcoming bull market to maximize their profits during the coming time.
Polygon (MATIC):
As the hype for Layer-2 (L2) tokens took a rise in the cryptocurrency industry, the Ethereum-backed Polygon (MATIC) token gained significant attention from the market and added approximately 15,000%, from a low of $0.0194 to a new all-time High (ATH) of $2.92 within the next twelve months.
Following the market crash, the MATIC price displayed a mixed sentiment by trading between $0.5 and $1.5 for about 20 months, after which the price successfully regained the lost momentum and has been trading under a positive influence since the year started.
Despite the technical indicator, MACD displaying a high possibility of a bearish convergence in the 1W time frame. The altcoin hints at a strong bullish sentiment, highlighting a high potential for positive price action during Q2.
Also Read : Bitcoin, Ethereum, and XRP Price Prediction For This Week: What’s in Store?
Bitcoin Cash (BCH):
Post-Halving, the BCH price displayed a neutral trend for a brief period, indicating weak buying and selling pressure in the crypto industry for the altcoin. However, as the market volatility grew, the bulls regained momentum and recorded a jump of over 500% within the next six months.
Following the Chinese market crash, the market experienced a massive downfall, after which the price traded in a consolidated range for over a year. With the 4th Halving around the corner, the market has regained momentum and continues to trade positively, highlighting a bullish outlook in the coming time.
The technical indicator, MACD, has displayed the strongest rising green histogram over the past four years, indicating a robust bullish sentiment for the token in the crypto space. Furthermore, the averages show a high potential for a Golden Cross, suggesting the price will gain significant traction this year.
Impact On BRC-20 Tokens:
The BRC-20 tokens have gained significant attention from the crypto industry over the past year, indicating a rising hype for these tokens in the market. Moreover, this category, at the time of writing, was valued at $2.97 Billion, a 10X surge since its inception.
Despite the top tokens, such as ORDI and SATS (1000SATS), displaying a bearish sentiment since the year started, they hint at bullish price action in the longer time frame, suggesting a potential bullish trend reversal post-Halving event.
On the other hand, LiverFi (LEVER) has turned out to be the top gainer by adding over 130% in valuation this year. With the upcoming Bitcoin Halving, the BRC-20 category is prepared to achieve a new high during the coming months.
