As the cryptocurrency market recovers from a bearish weekend sell-off, three altcoins have emerged as significant winners, showing resilience and bullish momentum.
BeInCrypto analyzes three alternative currencies who have experienced a spectacular recovery after the bloodbath of the weekend.
Crypto Comeback: CORE, NEO and ONDO Rebound with Impressive Gains
After a bearish weekend with over $1 billion in liquidations, the market has slowly begun to recoup its recent losses. Bitcoin has recovered $66,000 after reaching $60,000 on Saturday, April 13. These three altcoins have also seen the biggest rallies in the last two days.
First, Core (CORE), known for its decentralized finance (DeFi) solutions, exhibited a notable rebound. The technical charts indicate a solid recovery of over 46% from its recent lows, with the price action crossing firmly above the 20- and 50-period moving averages.
CORE recently witnessed a one-year high of $4.37 on April 2 before the price fell 72.5%. Since then, the price has seen an impressive recovery in the last 24 hours.
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The relative strength index (RSI) on the 4-hour chart reflects this sentiment, rising steadily and reflecting growing buyer interest.
NEO, often called the 'Chinese Ethereum', also showed impressive gains, according to Binance's 4-hour chart. The asset has seen a rise of over 52% following the sell-off, with price candles breaking above key moving averages in a show of strength.
NEO's rise can be attributed to its strong fundamentals and recent upgrades that have bolstered investor confidence. The price has almost returned to its recent 2 year high of $23.82, standing at $22.25 at the time of writing.
ONDO, although less known, has not been left behind in the rebound. ONDO also recently moved $95 million for Blackrock tokenized fund; The move aims to accelerate OUSG transactions from trade date plus two days to instant, addressing investor concerns.
ONDO price chart reveals 60% rise, with latest candles forming a bullish setup. This is due to a dramatic 47% drop since hitting its all-time high on March 31.
The uptrend of the RSI supports the positive price action, suggesting that ONDO could be on track for further gains. ONDO price currently stands 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 that indicate a change in market dynamics. Its ability to post substantial gains amidst market-wide pressure is a testament to its strong community support and technological value proposition.
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While the broader market remains cautiously optimistic, especially with the Bitcoin Halving Just 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 next wave of altcoin demonstrations.
Disclaimer
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