The total crypto market cap has dropped by over $1 trillion since December.
Despite underperforming the rest of the memecoin market, DOGE could rally from $0.16 to $0.50 if its support holds.
Long-term holders are increasing their positions in IMX and could trigger a rally toward $1 in April.
ZRO is one of the few altcoins seeing gains and could see a breakout above $3 if momentum continues.
BNB, GT, and OM are hovering near crucial price zones and could be seeing major rebounds in the coming month.
The first quarter of the year has been lackluster for the crypto sector as a whole.
The total crypto market cap has declined from the $3.72 trillion mark in mid-December of last year to around $2.65 trillion at the time of writing (more than $1 trillion in loss).
However, amid this market-wide decline in prices, the crypto whales are making moves that could indicate where the market is headed next.
While some whales continue to sell and aggravate the ongoing market decline, others continue to place strategic bets on certain cryptocurrencies.
As such, let’s take a look at some of the key altcoins most poised for comebacks in April, as a new quarter begins for the crypto market.
Dogecoin making the list is no surprise. This memecoin has underperformed compared to the rest of the memecoin market.
However, this cryptocurrency has been the object of some renewed interest from large investors so far.
According to insights from renowned analyst Ali, Dogecoin has done a good job at holding between the $0.17 and $0.16 price levels at the bottom of a multi-year ascending channel, which has been valid since 2015.
Dogecoin’s ongoing price levels | Source: Twitter
Dogecoin is currently struggling to hold off against the broader market decline.
However, the whales showing an interest in this cryptocurrency could be a trigger for a renewed comeback.
A rebound from the $0.16 price level could create an opportunity for this cryptocurrency to explode once again towards the $50 cent mark.
Immutable X is another preferred choice among crypto holders.
According to IntoTheBlock data, there has been a marked increase in accumulation behavior from long-term holders.
The snapshot shows a slow decline in the holding behavior of "cruisers," and a market decline in the behaviors of "traders."
On the other hand, there has been a strong uptrend in accumulation among long-term holders over the last year.
Ownership trends on ImmutableX | Source: IntoTheBlock
This behavior among long-term holders could suggest strong accumulation among this cohort.
Because of this, Immutable X has a strong chance for a rally towards the $1 mark in April of this year.
LayerZero has managed to hold on to a 7% price increase over the last month, according to CoinMarketCap.
This is in contrast to declines across the top 100 cryptocurrencies on the market.
Ongoing bullishness on the monthly chart | Source: CoinMarketCap
According to data from Santiment, the number of LayerZero holders has also been on a steady increase since October of 2024, even seeing spikes between early December and early January.
Increase in the number of holders | Source: Santiment
The number of holders has been on a steady increase since then and is now at its highest since June of last year.
If this accumulation trend continues like this, Layer Zero could find the strength it needs to break above the $3 mark.
On the other hand, a break below $2 could make $ZRO vulnerable to short-term dumps.
BNB has attempted to reclaim its all time high around $793 several times, since the end of last year.
As it stands, the cryptocurrency has declined further down from this price level and now trades slightly above the $500 mark.
Despite these struggles, BNB continues to show resilience and is maintaining a critical support level between $587 and $619.
The current price of BNB | Source: CoinMarketCap
As it stands, BNB is around 25% beneath its all time high and its price action depends strongly on the general market sentiment.
If April sees a fresh wave of bullish interest, BNB could be on its way towards fresh new highs.
However, a failure to break above the $647 zone could open the door to further decline for the cryptocurrency.
Gate is much closer to its all-time high than most other cryptocurrencies.
The asset currently trades at around $23.50 per CoinMarketCap and is just around 10% away from its all-time high.
The Gate token price | Source: TradingView
However, according to the charts, a successful flip of the $23.94 zone into a support level could make GT poised for another strong rally.
Market sentiment suggests that investors remain cautious about taking profits prematurely. However, if GT fails to break through this resistance, it could fall back to $22.56 or even as low as $21.25, invalidating the bullish outlook.
OM has been gaining attention lately because of its ability to rally towards its ATH of $9.17.
This asset now trades at around $6.58 and will need to surge by around 40% to reclaim this price level.
The OM price action | Source: TradingView
The cryptocurrency is holding well to the $6.2 support at the time of writing, and could be set to make a new all time high soon.
However, investors must note that a critical resistance sits around the $7 price level, and a failure to break above this price level could cause another drop to $6.2, or even a breakdown towards new lows.
Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.