Altcoins
Top 5 Altcoins to Stack in May for 10x Profits
Almost halfway into 2024, major bullish catalysts, like the launch of Bitcoin Spot ETFs and Bitcoin Halving, have come into play. As the latter fail to boost the crypto market, Bitcoin and altcoins find themselves at a pivotal stage.
Despite the downside risk, some altcoins exhibit a bullish setup with 5x upside potential. Will the highly anticipated bullish reversal drive altcoins higher in May?
With increased volatility, predictions are difficult, but here are our top 5 altcoins to stack in May for at least 5x growth.
Baby Doge coin (BABYDOGE)
Being an underappreciated small-cap meme coin, the Baby Doge Coin shows immense underlying potential for a bull run. Despite the recent drop of over 60% in five weeks, BABYDOGE price action finds a reversal point.
The bullish recovery occurs as a post-retest reversal of an upcoming resistance trendline breakout.
With a potential morning star pattern under construction, the altcoin could soon give rise to a massive bull run. According to Fibonacci levels, BABYDOGE could reach the $0.0000000053 mark.
Golem Network (GLM)
With a massive 41% jump today, the GLM price trend shows an entry opportunity to break out of the resistance trendline. As the altcoin maintains a positive trend in 2024, the coming month could be extremely bullish with the breakout rally.
The MACD and signal lines give a positive crossover, supporting the bullish outlook and reflecting an immense increase in underlying demand. After surpassing the psychological $0.50 mark, the uptrend is heading towards the $1 mark.
Given the momentum of broader market gains, GLM upside could reach $5.
Guardians Guild (GOG)
As the first gaming token on our list, the Guardians Guild is seeing a steady increase in users. The GOG token price is showing a similar rise in market value as it maintains an ascending channel.
Buyers are dominant, with the MACD indicator making a positive crossover and rising 46% over the past two days. According to the trend-based Fibonacci levels, GOG price could break the ascending channel up to $0.60.
From a more optimistic perspective, if the uptrend breaks above the $1 high, the rally could easily surpass the $3 mark.
Rue Haute (TOP)
As a Solana-based token, another gaming token, Highstreet, shows upside potential in May 2024. Moreover, with a reversal of the rounded bottom in the daily chart, the price of the HIGH token is heading towards the breakout of $4.
The rally will pass a critical supply zone and mark a double reversal. Additionally, if overall market sentiment improves, the altcoin could potentially reach the high of $20, the launch price in 2021.
Another Solana-based token, Metaplex, shows a bullish entry opportunity for massive gains in May. Moreover, with a support trendline in play, the uptrend continues and aims to reach the psychological mark of $0.50.
Similar to most altcoins projecting a trend reversal, the MACD indicator shows a positive crossover. With immense potential, MPLX coin could reach the $1 mark in the coming weeks. With some optimism, the altcoin could reach the $2 mark by the end of May 2024.