- BABY led daily gains on April 12 with a 94% surge, while PROMPT jumped 174.69%, showing sharp altcoin momentum.
- CryptoQuant data shows altcoins entered a buying zone, as the 30-day average dipped below the yearly average.
- RSI and MACD indicators show improving momentum, with market value now above $760B after rebounding from $700B.
The altcoin market had notable gains on April 12, with several tokens having sharp daily price increases. According to BlockBeats data, BABY led the surge with a 94% daily gain, now priced at $0.16319. Other notable performers included PROMPT, which rose by 174.69% to $0.4937.
GUN increased by 29.69% to $0.0555, while NIL increased by 13.32% to $0.433. This surge occurred alongside a 1.02% rise in the total crypto market cap, now at $2.64 trillion. Meanwhile, trading volume dropped by 24.82% to $79.42 billion in the past 24 hours.
Broader Market Activity Indicates Shifting Momentum
Bitcoin continues to dominate with a 62.58% share of the market, down by 0.10% from the previous day. Stablecoin volume reached $74.23 billion, accounting for 93.47% of total trading volume.
DeFi activity amounted to $7.46 billion, roughly 9.40% of total 24-hour volume. The CMC100 index increased by 1.17% to $160.34, supporting a broader trend across major altcoins.
Fear and Greed Index readings remained low at 27, placing the market in a “Fear” zone. Meanwhile, the Altcoin Season Index registered at 17 out of 100, indicating continued Bitcoin dominance.
Trending assets also shifted rapidly, with BABY up by 58.91% among the top gainers. BONK and PI followed with gains of 11.06% and 13.87%, respectively. On DexScan, tokens like BANG/SOL soared by 9501%, while others like Fartcoin/SOL showed mild losses.
Technical Indicators Point to Possible Recovery Phase
According to CryptoQuant, altcoins have entered what it describes as a “buying zone.” This pattern follows a 30 day moving average falling below the annual average. Historically, similar phases occurred in September 2023, just after the last bear market ended.
Analysts use this data to identify favorable points for deploying mid term dollar cost averaging strategies. Recent price movements show altcoins rebounding from oversold levels.
The market bottomed near $700 billion and is now trading above $760 billion. Daily candles closed above the $750 billion resistance, with new resistance identified between $770 billion and $780 billion.
Indicators Show Improving Momentum
The RSI is at 47.58, rebounding from a low of 40.02 but still below neutral. A sustained break above 50 could confirm growing strength.
Meanwhile, MACD readings show a bearish setup, though momentum is shifting. The MACD line is at +1.24 billion, with the signal line at -19.5 billion.
Despite the histogram remaining negative at -20.74 billion, it is narrowing. This narrowing suggests a potential crossover. Volume support is steady, creating conditions that may support further trend development if resistance levels break.
