The 3 biggest crypto predictions for April 2023
The technicals for the total market cap, excluding BTC, are showing some encouraging signs. BeinCrypto looks at some of the biggest crypto predictions for April.
Will these improved techniques help altcoins finally pick up the pace Bitcoin is setting? If so, this could pave the way for Binance Coin (BNB) and Shiba Inu (SHIB) to make significant price gains in April 2023.
It’s time for Altcoins to transcend
The overall crypto market cap, excluding Bitcoin, has underperformed due to this year’s strong BTC price performance. Several positive technical developments suggest that altcoins may be about to lift in April 2023.
A hidden bullish MACD price divergence is present in the weekly timeframe. The bullish divergence suggests that the total crypto market cap, excluding Bitcoin, could rise to $710 billion, representing a 17.94% increase.
The William’s Alligator indicator is also flashing a buy signal on the weekly timeframe. Interestingly, this is the indicator’s first major buy signal since August 30, 2021.
When the last buy signal was activated for William’s Alligator indicator, the total crypto market capitalization grew from $1.1 trillion to $1.7 trillion, which marked an increase of 54.45%.
If this signal starts to fire up again, it underscores the possibility of explosive growth in altcoins.
Binance Coin (BNB) Price Prediction, April 2023: Surprise, Surprise
Binance Coin (BNB) has recently been rocked by a lawsuit by the US Commodity Futures Trading Commission (CFTC) against crypto exchange Binance and its CEO, Changpeng Zhao. However, the opposite effect can often occur when traders anticipate more downside in a given crypto, especially when the broader market is rising.
On-chain calculations currently show positive price-adjusted daily active address divergence for BNB extending to the $420 level.
Blockchain research platform Santiment suggests that prices tend to go lower when daily active addresses go higher. And when daily active addresses go lower, prices usually go higher.
If the Binance Coin price exceeds the March trading high of $347, the deviation in price-adjusted daily active addresses could be reversed, marking a potential gain of 33.75% in April 2023.
Shibu Inu (SHIB) Price Forecast, April 2023: Higher tops
The Shibu Inu (SHIB) price continues to underperform. Still, a recent development in the chain could signal the start of a pending bull run for this meme coin.
The Token Age Consumed metric shows the number of tokens changing address on a specific date, multiplied by the time since they last moved, according to Santiment.
SHIB hosted its biggest summit of the year on Token Age Consumed on March 20. Spikes on the graph signal a large number of tokens in motion after being inactive for an extended period of time.
The last time Shibu Inu Token Age Consumed rose this much was on January 9th. This resulted in a bull rally that took the SHIB price from $0.000091 to $0.0001510 in less than a month, marking a 73% gain.
If history repeats itself, the price of Shina Inu could enter a new uptrend towards $0.000017 in April 2023.
Disclaimer
In line with Trust Project guidelines, this price analysis article is intended for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, objective reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions.
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