Algorand, GateToken, and PancakeSwap have a chance to outperform bitcoin in April

Cryptocurrency market analysts note that March turned out to be an exceptionally bullish month for bitcoin BTC $98,436.70 Bitcoin -0.40% Market capitalization $1.95 trillion VOL. 24 hours $3.56 billion - the main cryptocurrency has updated its historical high for the first time in history even before halving. Nevertheless, experts have identified three altcoins that have a good chance of outperforming BTC in April.

Algorand (ALGO)

Since the beginning of the year, the price of the ALGO token has increased by only 17%. However, now the altcoin seems to be preparing for a large-scale rally, as the EMA(Exponential Moving Average) lines have formed a «golden cross» on the chart for the first time in 4 years.

The goldencross is a rare bullish signal that occurs when the short-term EMA crosses over the long-term EMA. Its appearance is seen as a positive sign — it indicates that the market may move from a downtrend to an uptrend.

If the forecast meets expectations, ALGO is likely to test resistance at $ 0.32. In case of a successful breakout, the price of the altcoin will rise to $ 0.41.

GateToken (GT)

Currently, GT is only 22.19% below its all-time high reached on May 12, 2021. Over the past month, the coin has grown by 98.10% and reached $ 10 for the first time in 3 years.

The four-hour chart hints at a continuation of the uptrend. EMAs for 20, 50, 100, and 200 periods are lined up in a bullish pattern.

If the bulls' efforts are enough, GateToken may retest the previous high of $ 12.83. Technical signs and market activity point to favorable conditions for GT in the short and medium term.

PancakeSwap (CAKE)

Over the past month, the price of the CAKE platform’s native token has soared by 48.54%. Nevertheless, it is still trading 89.42% below the ATH, which was reached in April 2021. This suggests that the coin has a huge upside potential.

The 4-hour chart of CAKE shows a bullish trend. The short-term EMAs (20 and 50) are above the long-term EMAs (100 and 200), signaling a continuing momentum. If the altcoin manages to break above the resistance level of $ 5.03, it will head to a two-year high of $ 7.71.