What are the best cryptocurrencies to buy in April?

By: Stanko Iliev
Stanko Iliev
Stanko dedicates himself to providing investors with relevant information they can use to make investment decisions. He loves the… read more.
on Mar 31, 2021
  • The cryptocurrency market is advancing in the last trading week of March
  • If this positive trend continues, ETH, LTC, and XRP could be some of the best performers in April
  • Goldman Sachs announced this week that it would start to offer cryptocurrencies to its clients in Q2

The cryptocurrency market is advancing in the last trading week of March, Bitcoin is trading very close to $60000 resistance, and for now, everything indicates that the price could advance above this level again. The cryptocurrency market continues to attract institutional investors, and according to the latest news, Tesla will now accept Bitcoin as payment for its cars.

“Cryptocurrencies are increasingly becoming an accepted part of the financial landscape, and more institutions are now moving towards adoption. It would be kinda dumb to ignore a $1 trillion market cap, for sure, but low liquidity remains a big obstacle to Bitcoin evolving into its own asset class from valuations alone,” Deutsche Bank reported last week.

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If this positive trend continues, Ethereum, Litecoin, and Ripple could be some of April’s best performers. It is also important to mention that PayPal’s Ceo, Dan Schulman, recently announced plans to delve further into the cryptocurrency world in a bid to race head in the current financial technology era.

“We all know the current financial system is antiquated, and we can envision a future where transactions are completed in seconds, not days; a future where transactions should be less expensive to complete; and a future that enables all people to be part of the digital economy, not just the affluent,” Dan Schulman said.

Another positive news is that Goldman Sachs announced this week that it would start to offer cryptocurrencies to its clients in Q2. Some analysts say that Bitcoin could go above $70K in April, which would certainly positively influence Ethereum, Litecoin, and Ripple’s price.

Ethereum (ETH) is very close to the $2000 resistance level

Ethereum (ETH) price is advancing in the last days of March, and for now, there is no sign of the trend reversal. Ethereum could advance even more in the ongoing bull market, and if the price jumps once again above $2000, the next price target could be around $2200 or even $2500.

Data source: tradingview.com

On the other side, if the price falls below $1600, it would be a firm “sell” signal, and we have the open way to $1400 support level.

Litecoin (LTC) has found strong support above $180

Litecoin has advanced from $122 above $240 since the beginning of January 2021, and the current price stands around $195.

Data source: tradingview.com

The critical support levels are $180 and $160; $220 and $240 represent the important resistance levels. If the price jumps again above $220, it would be a signal to trade Litecoin (LTC), and the next price target could be around $240.

Ripple (XRP) may advance again above $0.70 resistance

Ripple’s (XRP)  price is currently trading below $0.60, but the technical picture implies that the price may advance again above $0.70 resistance in April.

Data source: tradingview.com

If the price jumps above $0.60, it would be a signal to buy Ripple (XRP), but if the price falls below $0.40, it would be a firm “sell” signal and a trend reversal sign.

Summary

The cryptocurrency market is advancing in the last trading week of March, Bitcoin is trading very close to $60000 resistance, and for now, everything indicates that the price could advance above this level again. If this positive trend continues, Ethereum, Litecoin, and Ripple could be some of April’s best performers.

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