Bitcoin bulls are withal struggling to push the price to a new high simply the positive sign is that BTC has not corrected sharply in the by few days and the top-ranked cryptocurrency has held a market capitalization above $1 trillion since March 26.

While many are wondering what Bitcoin's next move volition be, a Bloomberg Intelligence written report by senior commodity strategist Mike McGlone projects that BTC will rally to $fourscore,000 in the 2d quarter rather than slump to the $40,000 level.

Crypto market data daily view. Source: Coin360

Bitcoin'southward consolidation has non held back altcoins, which take continued their march higher over the past few weeks. Cointelegraph recently reported that the number of cryptocurrencies commanding a $1 billion marketplace capitalization has doubled in the past two months to hitting the 100 mark.

Decentralized finance avails have also rallied significantly as the full value locked in DeFi reached $100 billion on Apr 6 co-ordinate to information from DeFi Llama. At the get-go of the year, the TVL metric was just $20.74 billion, which shows there has been a massive amount of growth in the space.

Keeping the focus on altcoins, let's analyze the fundamentals of three tokens that have washed well in the past few days.

CELR/USDT

Celer Network's CELR token was featured on Cointelegraph on March 16 when the toll was at $0.059. Since then the token has continued its uptrend and striking a new all-time high at $0.103 on March 28, a further 74% rally in a short time.

The DeFi infinite has been in focus in the past few months for its mouth-watering yields. However, surging Ethereum network fees accept limited these benefits to larger players and retail-sized investors with less capital have missed out on many great investing opportunities.

To address this problem, Celer announced the launch of Layer2.finance on Feb. 18, which claims to tremendously cut the cost of accessing DeFi. According to the team, the projection is in its final stages of an inspect and is expected to launch soon. If this succeeds, Celer could address ane of the main problems that may is limiting the rise of DeFi.

CELR has been in a correction since topping out at $0.103 on March 28. The pullback has reached the 20-twenty-four hours exponential moving average ($0.071) but the bulls are struggling to defend this level.

CELR/USDT daily nautical chart. Source: TradingView

This suggests that the bullish sentiment has weakened and traders are not rushing to purchase the dips. The flattening 20-mean solar day EMA and the relative strength alphabetize (RSI) below 54 points to a possible range-jump action in the short term.

If the buyers defend the $0.065 support, the CELR/USDT pair could attempt to resume the upwards-motility but it is probable to meet strong resistance at $0.087 and so $0.095. Withal, if the bulls propel the toll to a higher place $0.103, the pair could rally to $0.122 and so $0.155.

On the downside, if the bears sink the price below $0.065, the decline could extend to the next support at the 50-day simple moving average ($0.047). Such a deep correction unremarkably delays the start of the adjacent leg of the uptrend.

CTSI/USDT

Cartesi (CTSI) aims to have the traditional tools used by the programmer customs and merge them with decentralized tools. This could attract several developers to decentralization who are currently held back due to the unlike programming languages existence used for blockchain. Additionally, the squad believes that their technology could increase the computational power of certain applications by ten,000%.

In the by couple of months, Cartesi has appear partnerships with Injective, Travala, IOTA, Polygon, Elrond, and Avalanche. Over the next few weeks and months, the crypto community volition keenly lookout Cartesi'southward layer-two technology to see if information technology tin enhance computational throughput and implement processing-intensive applications without compromising security.

CTSI has been in an uptrend for the by few weeks. It rallied from an intraday depression at $0.077 on Feb. viii to an intraday high at $0.896 on Apr 4, a 1,063% rally within two months.

CTSI/USDT daily chart. Source: TradingView

However, after the sharp rally of the past few days, the CTSI/USDT pair is currently witnessing turn a profit-booking. The bears accept pulled the price below the 38.2% Fibonacci retracement level at $0.583 and the next support is the l% retracement level at $0.486.

If the pair rebounds off the $0.486 level, it will be a bullish sign as it will show that the previous resistance of $0.466 has flipped to back up. The bulls volition then endeavour to resume the uptrend just are likely to be met with heavy selling virtually $0.65.

If the toll turns down from this resistance, the pair could remain range-bound for a few days. A breakout and close higher up $0.65 will exist the first indication that the bulls are attempting a comeback. On the other paw, a break below $0.466 could signal a possible change in tendency.

COMP/USDT

Compound (COMP) continues to grow stronger despite setbacks in the DeFi sector. On Feb. 21, the protocol reported a total supply of $ten billion, which has since and so surged to over $fifteen billion on April 3. The protocol continues to lead the DeFi rankings with a total value locked at $ix.53 billion.

On March 1, Chemical compound appear the launch of Gateway, a Substrate blockchain, which the team believes will eventually evolve into the backbone of a global interest charge per unit market that is capable of supporting any nugget.

on March 26 Compound Labs founder and CEO Robert Leshner tweeted that he had given a DeFi presentation to Federal Reserve staff. This is a major first step equally it shows that the leading central banking concern in the globe is interested to know m about DeFi.

On April 3, Compound received 629,000 Ether ($i.three billion) from an bearding whale and many suspect that this is proof that major institutions are jumping into DeFi.

COMP rallied from an intraday depression at $330 on March 25 to an intraday loftier at $562.85 on Apr 4, a lxx% rally inside a brusque fourth dimension. The bears are aggressively defending the overhead resistance zone between $558 and $573.

COMP/USDT daily chart. Source: TradingView

The COMP/USDT pair is stuck inside a large range between $320 and $558. The current pullback could observe support at the 20-solar day EMA ($444), which has started to plow upwardly. If the pair rebounds off this level, the bulls will one time again try to push the price in a higher place the overhead zone.

If the bulls succeed, the pair could commencement the next leg of the uptrend which has a target objective at $796.

Contrary to this assumption, if the price slips below the moving averages, it could extend the reject and attain the support at $320. A break below this disquisitional back up could intensify selling and pull the price down to $200.

The views and opinions expressed hither are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should comport your own research when making a decision.