There are some significant short-term movements in the cryptocurrency markets, and what we are experiencing these days is exactly that. The fluctuation in Bitcoin prices has relatively settled down. Although BTC is hesitant about reaching higher peaks, it continues to struggle to stay above $70,000. This means that liquidity could flow more into altcoins.
Altcoins with Potential for Gains
While Bitcoin‘s price continues to fluctuate in a narrow range over the past few days, we have started to see much bigger movements in altcoins. Three altcoins, including Solana (SOL), BNB, and Avalanche (AVAX), have seen significant gains during this period. BNB managed to positively diverge with the excitement of Launchpool, and its price saw $600 after a long interval.
The rise of Solana was triggered by the support of hype altcoins like WIF and the anticipated airdrops. Miles Deutscher stated that Avalanche subnets would help increase the AVAX price, and as mentioned, the price exceeded $50.
“AVAX is indeed pushing its own gaming subnets. I love AVAX, and a breakout price of $50 could lead towards the $100 level.”
Lesser-Known Altcoins
ANKR, RAY, and MASK are three cryptocurrencies that have managed to attract relatively less investor attention this month but have made significant gains. Ocean Protocol (OCEAN), APT, and iExec RLC also seem inclined to reach new peaks. In total, these nine altcoins have the potential to see their historical highs while BTC lingers in a narrow range.
APT and RLC also showed noteworthy growth, with RLC nearly doubling its value in March. ANKR broke its long-term downtrend at the end of February. Thus, all nine are primed for a parabolic rise. The liquidity following 500-600 days of weak performance could help them reach impressive highs faster than expected.
However, investors should not forget that liquidity quickly moves among altcoins. While altcoins like RON and Axelar experienced massive increases more recently, they were unable to sustain them. Following the liquidity in bull markets seems like the key to success, but it is also the reason for being caught on the wrong side at times. Perhaps it is a better option to allocate a short-term trade budget to positions tied to a few days’ targets.
