3 Altcoins to Watch Ahead of Key Events in the Third Week of April

The crypto market's volatility continues, compounded by the absence of bullish signals from broader financial markets. While altcoins are becoming less dependent

The crypto market’s volatility continues, compounded by the absence of bullish signals from broader financial markets. While altcoins are becoming less dependent on external developments, they are increasingly relying on internal network progress to drive price movement.

BeInCrypto has analyzed three altcoins to watch, focusing on whether key events could trigger a price shift in the third week of April.

Filecoin (FIL)

FIL price has bounced off the support of $2.26, currently trading at $2.50. This rebound follows the altcoin’s 27% decline at the end of March, and traders are anticipating a recovery.

The support level of $2.26 has proven crucial in halting further losses and enabling a potential uptrend. However, if the bears push the price below this key level, it could signal a continuation of the downtrend.

Upcoming developments, such as the FIP 0097 proposal, could further boost FIL’s price. The transition to FEVM supporting transient storage and aligning with Ethereum’s EIP-1153 promises cleaner contracts, lower costs, and better compatibility.

If FIL manages to break through the resistance at $2.63, it could continue rising to reach $2.99. Conversely, if it fails to break through the barrier and falls back below the support at $2.26, the bullish outlook would be invalidated. In such a scenario, FIL may fall to $2.00.

EigenLayer (EIGEN)

Another one of the key altcoins to watch before April ends, the EIGEN price is poised to breach the resistance of $0.86 this week, driven by the upcoming Slashing upgrade.

This upgrade will introduce a free marketplace where Operators can earn rewards for their work, and AVSs can launch verifiable services.

If EIGEN capitalizes on the momentum from the Slashing upgrade, it could surge past the resistance levels of $086 and $0.92. With continued upward movement, the altcoin has the potential to reach $1.00 and beyond.

However, if EIGEN fails to break through $0.86, the price may fall back to the support level of $0.69. This would invalidate the bullish outlook and delay the recovery from the 41.5% losses incurred at the end of March.

OFFICIAL TRUMP (TRUMP)

TRUMP price recently hit an all-time low of $7.14 but has since recovered to $8.33. Despite this recovery, the likelihood of a continued rally is slim due to the upcoming token unlock on April 18.

This event could create additional selling pressure on the altcoin in the coming days.

The first token unlock in three months, set to release 40 million TRUMP worth $331 million, will flood the market. This unlock will also initiate the daily release of 492,000 TRUMP tokens.

Investors are concerned that this increased supply may further weigh on the price.

The surge in supply could prove bearish for TRUMP, which is already facing low demand. This may push the price back down to $7.14 or lower, potentially creating a new all-time low.

However, if the price breaches $9.11, the bearish outlook would be invalidated, and recovery could occur.