As the cryptocurrency market recovers from a bearish weekend sell-off, three altcoins have emerged as significant gainers, showcasing resilience and bullish momentum.
BeInCrypto looks at three altcoins that have seen a dramatic recovery following the weekend’s bloodbath.
Crypto Comeback: CORE, NEO, and ONDO Rally with Impressive Gains
Following a bearish weekend with over $1 billion in liquidations, the market has slowly begun recovering its recent losses. Bitcoin has reclaimed $66,000 after tapping $60,000 on Saturday, April 13. These three altcoins have also seen the biggest recoveries over the past two days.
Firstly, Core (CORE), known for its decentralized finance (DeFi) solutions, exhibited a remarkable bounce back. Technical charts indicate a robust recovery of over 46% from its recent lows, with price action firmly crossing above the 20 and 50-period moving averages.
CORE recently witnessed a one-year high of $4.37 on April 2 before the price declined by 72.5%. The price has since seen an impressive recovery over the past 24 hours.
Read More: Which Are the Best Altcoins To Invest in April 2024?
The Relative Strength Index (RSI) on the 4-hour chart mirrors this sentiment, climbing steadily and reflecting increasing buyer interest.
NEO, often called the ‘Chinese Ethereum,’ also displayed impressive gains, per the Binance 4-hour chart. The asset has seen a surge of over 52% post-sell-off, with price candles breaching past key moving averages in a show of strength.
NEO’s surge can be attributed to its solid fundamentals and recent updates that have bolstered investor confidence. The price is almost back to its recent 2-year high of $23.82, sitting at $22.25 at the time of writing.
ONDO, although lesser-known, has not lagged in the rally. ONDO most recently also moved $95 million to Blackrock’s tokenized fund; the move aims to expedite OUSG transactions from trade date plus two days to instant, addressing investor concerns.
The price chart for ONDO reveals a 60% increase, with the latest candles forming a bullish configuration. This comes from a dramatic 47% decline since reaching its all-time high on March 31.
The RSI’s upward trend supports the positive price action, suggesting that ONDO could be on track for further gains. The price of ONDO currently sits at $0.97 – Slightly below its all-time high of $1.05.
These three cryptocurrencies stand out not only for their recovery but also for the technical indicators signaling a shift in market dynamics. Their ability to register substantial gains amidst market-wide pressure is a testament to their strong community support and technological value proposition.
Read More: 7 Hot Meme Coins and Altcoins that Are Trending in 2024
While the broader market remains cautiously optimistic, especially with the Bitcoin halving around the corner, these three altcoins have laid down the gauntlet, demonstrating what is possible in a volatile and ever-changing landscape. As the market stabilizes, these tokens could set a precedent for the next wave of altcoin rallies.
Disclaimer
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