Summary
TLDR: Cryptocurrencies in 2024 are experiencing strong growth but are also facing strong corrections, potentially impacting altcoins like Celestia, Kaspa, BitTensor, and Helium. Technical analysis suggests bearish trends for these tokens, with potential price drops for TIA, KAS, TAO, and HNT in the near future. Investors should conduct their own research and consult with professionals before making financial decisions.
Key Points
1. TAO has seen impressive growth of over 100% YTD, but its April forecast appears bearish, signaling a potential pullback as it tries to capitalize on the artificial intelligence narrative.
2. KAS experienced a 15% uptick in valuation in 2024, but faces the threat of a significant correction that could erase its yearly gains. The RSI stands at a neutral 47, indicating it is neither overbought nor oversold.
3. HNT, focused on DePin, has only seen YTD price growth below 10%, despite the hype. Short-term EMA lines crossed below long-term lines, forming a death cross, leading to a price decline. If the downtrend continues, HNT could reach as low as $4.74.