Best Altcoins to Watch Today, April 7 – Ethereum, Chainlink, Filecoin

Highlights:

• Ethereum is holding a key support zone, with bulls still eyeing a stronger upside move.
• Chainlink remains under pressure, but short-term support is still keeping the structure intact.
• Filecoin is flashing early breakout signs as momentum builds near a falling wedge resistance.

The crypto market is declining on Tuesday despite kicking off the week on a stronger note. The overall market capitalization has declined by 1% to $2.35 trillion, while the trading volume surged by 23% to 85 billion, indicating increased market activity. Meanwhile, the fear and greed index is holding at 35 indices, reflecting a “FEAR” sentiment in the market.

Bitcoin, which has inched the $70K mark, has dropped towards the $68K level while major altcoins trade in the red. With minor pullbacks always seen as opportunities for market entries, let’s discuss the best altcoins to watch today, such as Ethereum, Chainlink, and Filecoin.

Best Altcoins to Watch Today

1. Ethereum (ETH)

Ethereum is trading around $2,102, down 1.40% over the last 24 hours. This latest setback comes after the bullish momentum witnessed recently, following the altcoin’s 2% and 7% surges on the weekly and monthly charts. Moreover, the market cap dropped to $253 billion while trading volume climbed to $17 billion.

Crypto analyst Ali Martinez has noted that Ethereum is now testing a decisive support zone near $1,800 on the weekly chart. Ali describes the pattern as an ascending triangle, with the lower trendline acting as the market’s key boundary.

If the current Ethereum $ETH price action is an ascending triangle, then the $1,800 level is the "line in the sand."

This price point serves as the triangle's hypotenuse. If it holds as support, I believe it could trigger a rally toward the $4,900 x-axis. https://t.co/93y0hrWujz pic.twitter.com/sqIFaQKCG8

— Ali Charts (@alicharts) April 6, 2026

So far, price has stayed above that line, while repeated swings show buyers still defending higher lows. If Ethereum holds $1,800, Martinez points to $4,900 as the next chart target, matching the upper resistance area. However, a break below support would weaken the triangle setup and challenge the projected upside move.

2. Chainlink (LINK)

Chainlink has formed a descending channel pattern on the daily chart as the bears take the lead. Currently, the price is hovering around $8.76, down by 1.90% over the last 24 hours. Its market cap has also declined to $6.35 billion.

Despite the latest bearish trend, Chainlink emerges as one of the best altcoins to watch today. The altcoin continues to respect a key micro support zone between $8.34 and $8.64 on the hourly chart. Fibonacci levels also align within it. The price has bounced from that band and reclaimed ground above the $8.47 recent low, keeping the current structure intact. This movement suggests buyers still defend short-term support.

$LINK
The price is holding the upper micro support between $8.34 and $8.64 and has reacted constructively from this area. The structure allows for a potential recovery, although it still requires confirmation.
A break above $9.17 would indicate strengthening upside momentum and… pic.twitter.com/X4ZVlPjORM

— More Crypto Online (@Morecryptoonl) April 7, 2026

However, the analyst suggests that LINK still needs confirmation before calling a durable low. A push above $9.17 would strengthen upside momentum and support a broader recovery case. Until then, the chart points to a corrective, possibly diagonal advance, while failure below $8.47 would weaken the setup.

3. Filecoin (FIL)

Filecoin has seen a gain of 0.90% on the daily chart. As of this writing, FIL is hovering around $0.859, with a market cap of $660 million. Moreover, its trading volume has exploded by 60% to $115 million.

Filecoin is currently nearing the breaking point of a clean falling wedge pattern on the daily chart. This downtrend pattern has held since February, with a strong base around the $0.76 region. A positive breakout could see massive upside, with upside targets located at the $1.38 and $1.60 regions. 

Meanwhile, indicators such as the Relative Strength Index and Moving Average Convergence Divergence support the bullish thesis. The 14-day RSI is holding in the neutral region at 56 levels, indicating a further journey toward the overbought region. Moreover, the MACD line has made a crossover above the signal line, indicating a robust bullish momentum.