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5 Altcoins You Should Keep an Eye on in April

3 mins
Updated by Geraint Price
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In Brief

  • Ethereum (ETH) PancakeSwap (CAKE) and iExec RLC (RLC) will undergo network upgrades.
  • EOS will launch is Ethereum Virtual Machine.
  • IoTex (IOTX) hard fork will go live.
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Top 5 altcoins to watch in the crypto market in April 2023: Ethereum (ETH), PancakeSwap (CAKE) and iExec RLC (RLC) will launch network upgrades. EOS will finally release its Ethereum Virtual Machine (EVM), while IoTeX (IOTX) will undergo a hard fork.

Ethereum (ETH) Launches Shapella Upgrade

  • Price: $1,810
  • Market Cap: $221,518 billion
  • Rank: #2

The Shapella network upgrade will activate on the Ethereum network at epoch 194048, which is scheduled on April 12. The upgrade will allow validators to withdraw their stake from the Beacon Chain back to the execution layer. This could cause a large number of ETH to become unstaked.

The Ethereum price movement looks decisively bullish. The price has increased rapidly since March 10 and reclaimed the $1,700 support area on March 17, successfully validating it as support 10 days later (green icon).

Moreover, the daily RSI broke out from its bearish divergence trend line and moved above 50.

If the increase continues, the ETH price could move toward $2,000. However, a close below $1,700 would invalidate the bullish structure and could cause a drop to the $1,450 support.

Ethereum (ETH) Price Breakout
ETH/USD Daily Chart. Source: TradingView

PancakeSwap (CAKE) v3 Will Launch in April

  • Price: $3.69
  • Market Cap: $673 million
  • Rank: #70

PancakeSwap v3 will launch in the first week of April. Early supporters will receive a share of the $135,000 airdrop that comes with it. V3 will offer better trading fees, yield farming and improved liquidity provisioning.

The CAKE price has traded inside a long-term symmetrical triangle since June 2022. The price is currently very close to the triangle’s support line.

Whether the utility token breaks out or down from it could determine the future trend in the crypto market. A breakdown would likely cause a drop to $3.20, while a breakout could cause an increase to $4.70.

PancakeSwap (CAKE) Crypto Price Pattern
CAKE/USDT Daily Chart. Source: TradingView

EOS Altcoin Launches Ethereum Virtual Machine (EVM)

  • Price: $1.14
  • Market Cap: $1,244 billion
  • Rank: #45

The EOS Ethereum Virtual Machine (EVM) will launch on April 14. It has been in the works for over a year, and will provide instant access to code libraries, and popular toolkits, ideally paving the road for rapid adoption. The EVM will boast more than 800 swaps per second, immediately becoming the most performant EVM available.

The EOS price still follows a descending resistance line in place since August 2022. If it breaks out, it could rapidly move to the next resistance at $1.50.

However, if the altcoin’s price gets rejected again, a drop to the short-term ascending support line at $0.96 could follow.

EOS Altcoin Movement
EOS/USDT Daily Chart. Source: TradingView

iExec RLC (RLC) Altcoin Launches v8 Upgrade

  • Price: $1.76
  • Market Cap: $142 million
  • Rank: #188

RLC launched its v8 upgrade in the final week of March. The upgrade will be faster and massively scalable, allowing for heavy computation on large files.

The RLC price deviated below the $1.55 horizontal area on March 10 (green circle) but reclaimed it shortly afterward. This is a bullish sign that often precedes upward movements. If the current increase continues, the RLC price could move to the $2.55 resistance area.

However, if the crypto price closes below $1.55, it could fall to the ascending support line at $1.20.

iExec RLC (RLC) Price Breakout
RLC/USDT Daily Chart. Source: TradingView

Iotex (IOTX) Hard Fork Goes Live

  • Price: $0.025
  • Market Cap: $245 million
  • Rank: #136

The IoTeX hard fork will go live on April 4. It will be activated at block height 22,991,401.

The IOTX price bounced at the $0.022 horizontal support area on March 10. It has increased since. If the upward movement continues, the price could increase to the long-term descending resistance line at $0.030. 

However, if the digital currency closes below $0.022, it could decrease to a new all-time low.

IoTex (IOTX) Crypto Price
IOTX/USDT Daily Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.

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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
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