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In the first three months of 2024, Bitcoin and other cryptocurrencies demonstrated impressive performance. BTC pushed its historical peak higher. Even though Bitcoin (BTC), setting a new ATH at $73,777, had a rough April, May could be full of surprises. So, which altcoins could gain in the fifth month of the year?
Harmony (ONE)
Transaction volume on the network surpassed $1 million, marking another milestone. This threshold, significant for ONE Coin, reflects an increase in network demand. The price of ONE Coin, continuing to fluctuate within a descending wedge, could experience a breakout next month that might trigger volatility. According to this model, a 36% increase targeting a new peak around $0.034 is expected. Although ADX supports the bullish scenario, the bearish scenario could see a low target of $0.015 or lower in May, the lowest in three months.
Dogwifhat (WIF)
One of the strongest altcoins backed by the meme coin community. It became much more notable as the third-largest meme coin. While competing with PEPE for dominance among Solana meme coins, WIF Coin managed to surpass it. The formation shown below targets $4.8 and reflects a potential increase of over 50% in an optimistic scenario.
If May turns into a nightmare, then a price losing the lower trend line could fall below $2.5 to a $2 support, pausing the uptrend.
NEAR May Targets
Altcoin recently jumped from a $5.2 support to $7.2. Above $7.4, NEAR Coin price could target $8.8. This altcoin, now free from the negativity of the FTX collapse, will be closely watched in May for its potential rise.
Render (RNDR)
AI continues to dominate global agendas, and technology is advancing rapidly. More good news and developments in this field are expected in May. Recognized among AI-focused altcoins, RNDR Coin could test the $10 target. If there are convincing closures below the $8 support, a drop to $6.8 is expected, reversing the upward sentiment.
Stellar (XLM)
XLM price is currently fluctuating within a descending wedge. An old, popular altcoin, it has achieved impressive gains in every bull season it has seen. The technical outlook suggests that the targets of $0.142 and $0.16 could be tested. If XLM Coin moves south, targets of $0.1 and $0.09 could be aimed for.
