Crypto Market Rebounds: Top 3 Altcoin Winners After Weekend Sell-Off
As the cryptocurrency market bounces back from a bearish weekend, three altcoins have emerged as the top gainers, showcasing their resilience and bullish momentum.
BeInCrypto examines three altcoins that have experienced a remarkable recovery following the weekend’s market downturn.
Crypto Comeback: CORE, NEO, and ONDO Rally with Impressive Gains
After a bearish weekend that resulted in over $1 billion in liquidations, the market has started to recover from its recent losses. Bitcoin has reclaimed $66,000 after hitting a low of $60,000 on Saturday, April 13. These three altcoins have also seen the most significant recoveries in the past two days.
Firstly, Core (CORE), known for its decentralized finance (DeFi) solutions, has experienced an impressive bounce back. Technical charts indicate a strong recovery of over 46% from its recent lows, with the price crossing above the 20 and 50-period moving averages.
CORE had reached a one-year high of $4.37 on April 2 but then saw a 72.5% decline. However, the price has since made an impressive recovery in the past 24 hours.
The Relative Strength Index (RSI) on the 4-hour chart confirms this sentiment, steadily climbing and reflecting growing buyer interest.
NEO, often referred to as the “Chinese Ethereum,” has also shown significant gains according to the Binance 4-hour chart. The asset has surged over 52% post-sell-off, with price candles surpassing crucial moving averages, indicating strength.
NEO’s surge can be attributed to its solid fundamentals and recent updates that have boosted investor confidence. The price is almost back to its recent 2-year high of $23.82, currently sitting at $22.25 at the time of writing.
Although lesser-known, ONDO has also participated in the rally. Recently, ONDO transferred $95 million to Blackrock’s tokenized fund, aiming to expedite OUSG transactions from trade date plus two days to instant, addressing investor concerns.
The ONDO price chart reveals a 60% increase, with the latest candles forming a bullish pattern. This follows a significant 47% decline since reaching its all-time high on March 31.
The upward trend of the RSI supports the positive price action, suggesting that ONDO may continue to see gains. The current price of ONDO is $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 signal a shift in market dynamics. Their ability to achieve substantial gains amid market-wide pressure demonstrates strong community support and a valuable technological proposition.
While the broader market remains cautiously optimistic, especially with the Bitcoin halving approaching, these three altcoins have shown what is possible in a volatile and ever-changing landscape. As the market stabilizes, these tokens could pave the way for the next wave of altcoin rallies.