Altcoin Price Analysis: Celestia, Kaspa, BitTensor, and Helium Face Bearish Signals in April
In 2024, cryptocurrencies have experienced significant growth, but also strong corrections that are impacting altcoins like Celestia (TIA), Kaspa (KAS), BitTensor (TAO), and Helium (HNT). Despite TAO’s impressive surge this year, its forecast for April appears bearish, indicating a potential pullback as it tries to capitalize on the artificial intelligence narrative.
Meanwhile, HNT is struggling to maintain its momentum after a spike in February, as it looks to leverage the DePin narrative. As we approach April, stronger corrections could be on the horizon for these altcoins.
Celestia Could Go Back To $8.5
Celestia (TIA), a modular network focusing on blockchain solutions, reached an all-time high of $20.77 in February but has since experienced a strong correction, dropping to $13.8 in March. Despite its reputation for blockchain modularity, TIA has not followed the overall crypto surge in 2024, with less than 1% growth YTD.
Recent EMA lines for TIA are bearish, with short-term lines below other lines and close to the current price line. This setup could indicate a potential bearish outlook, with a possible retracement to $8.5 if the downtrend continues.
Key Points:
- CEMA lines for TIA showing bearish signals
- Potential retracement to $8.5 if downtrend continues
Kaspa Is on the Edge
Kaspa (KAS) has seen a 15% increase in valuation in 2024, showing a positive trajectory. However, a significant correction threatens to erase its yearly gains, with a sharp 41% decline over the past three weeks from its peak value of $0.188 on February 20.
The Relative Strength Index (RSI) for KAS is currently at a neutral 47, indicating neither overbought nor oversold conditions. The recent formation of a death cross suggests further price drops for KAS, potentially falling to $0.099 or even $0.075.
Key Points:
- 41% decline in KAS over three weeks
- Death cross formation indicating potential price drops
BitTensor (TAO) Capitalizes on AI Hype
BitTensor has witnessed significant growth in the artificial intelligence sector, with a surge of over 110% in 2024. Starting the year at $274, TAO reached an all-time high of $752.13 by March 7. However, a decline followed, stabilizing around $580 as short-term EMAs dipped below longer-term averages, indicating a looming bearish trend.
If the downward trend persists, TAO could face significant price support levels, potentially falling to $524 or even $415, testing critical thresholds in its market valuation.
Key Points:
- 110% growth in 2024 for TAO
- Potential price support levels at $524 or $415
Helium (HNT) Down 10% This Year
Helium aims to leverage the DePin narrative but has seen YTD price growth below 10% despite the hype. Starting the year at $6.96 and reaching $10.03 in February, HNT’s failure to approach its ATH raises concerns. The formation of a death cross on March 11 led to a price decline, currently at $6.18 and potentially dropping to $4.74 or $2.17 if the downtrend continues.
Key Points:
- HNT YTD growth below 10%
- Potential price levels at $4.74 or $2.17 if downtrend persists
Hot Take: Altcoins Brace for Bearish Trends in April
As altcoins like Celestia, Kaspa, BitTensor, and Helium face bearish signals in April, investors should closely monitor these developments to make informed decisions in the volatile crypto market. Stay vigilant and adapt your strategies accordingly to navigate potential corrections and price movements in the altcoin space.
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