The cryptocurrency industry has successfully recorded a bullish reversal in its chart with top altcoins seeing significant gains in their respective portfolio over the past seven days. Furthermore, market leader BTC price reclaimed the $65K mark, highlighting strong bullish sentiments.
With the increasing interest of investors in the mid-cap and low-cap altcoins to maximize their profits, the crypto market is poised to experience significant price action in May. In this article, we covered 4 altcoins that have the potential to outperform the top cryptocurrencies this month.
Athena (ENA):
The Athena price showed a significant price action by adding 11.89% to its portfolio in the last 24 hours and a 24 hour trading volume of $331.92 million. Moreover, the price breached its resistance level of $0.90, highlighting a positive outlook for the altcoin in the coming time.
Furthermore, the altcoin has added 16.73% within the last seven days and its year-to-date (YTD) return stands at 34.13% in valuation. With the rising bullish influence, the ENA coin price is poised to reach a new ATH during the coming months.
The technical indicator, MACD, is showing a steady rise in the green histogram with its averages showing bullish price action. Moreover, the Simple Moving Average (SMA) is supporting the ENA price, indicating a strong positive influence on the altcoin in the crypto market.
If the market holds the price above the $0.90 support level, the bulls will prepare to test its upper resistance level of $1.325 this month. But a bearish trend reversal could pull the Athena price towards its crucial support level of $0.70 in the near term.
AIOZ Network (AIOZ):
The AIOZ network is a DePin for Web3, driving a faster, safer and decentralization. It has received significant attention from the crypto industry following the artificial intelligence (AI) hype.
The AIOZ price has added 12.04% in the past day and a trading volume of just over $10 million. Moreover, it has gained 24.63% within the last seven days and added 448.56% since the beginning of the year.
The Relative Strength Index (RSI) has successfully crossed the midpoint by showing a significant rise in its chart over the past week. However, the averages are hovering near the neutral point, highlighting uncertainty in future price action for this altcoin.
If the market continues to trade under a bullish influence, the AIOZ price will prepare to test its upper resistance level of $1.029. Conversely, if the bears overpower the bulls, the price will drop to its $0.684 support level during the coming week.
Hedera (HBAR):
After trading under a bearish sentiment for a brief period, the Hedera price has shown a strong bullish reversal by adding around 10% within the past day. Furthermore, this altcoin has added 13.59% over the past 30 days and has a YTD of 39.87%, suggesting bullishness in the crypto space.
The Moving Average Convergence Divergence (MACD) displays a constant green histogram in the 1D time frame, highlighting increased buying over selling pressure in the crypto space. Furthermore, the averages show a bullish rise suggesting a positive outlook for the altcoin this week.
If the market holds the HBAR price above the $0.120 support level, the bulls will regain momentum and prepare to test its upper resistance level of $0.160 during the coming weeks. Negatively, a bearish trend reversal could pull the price to its low of $0.10.
Ondo (ONDO):
After its launch on January 18 with a price tag of $0.08355, this year, the ONDO price gained significant attention in the market, which resulted in the Ondo crypto adding approximately 700% within hours.
Positively, the altcoin has added 8.19% in the past day and 13.04% over the past seven days. Moreover, its return stood at 941.94% since its inception at the time of writing this article.
The MACD is showing strong bullish price action with its averages successfully recording an uptrend in its chart. On the other hand, the SMA supports the price chart, indicating that the ONDO price will continue to gain value in the coming time.
If the bulls continue to gain momentum, the Ondo token will prepare to test its upper resistance level of $1 by the coming weekend. On the other hand, if the bears gain control of the market, the price will lose momentum and test its crucial support level of $0.736 this month.
Also Check: Top Altcoins With High Highlight Rally Chances Next Week
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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