Altcoins
Top Altcoins for 2x-5x Profit by End of May
The recent surge in The price of Bitcoin above $65,000 on Wednesday sparked a new relief rally in the crypto market. Top altcoins are also benefiting from this bullish momentum, rebounding from their previous correction trends.
As market sentiment grows more optimistic about a potential rebound following the completion of Bitcoin’s fourth halving, several tokens are demonstrating the potential for significant gains, with projections of 2-5x earnings d by the end of May.
Fetch.ai (FET), Floki, Bonk, AAVE and Ethena (ENA) are among the major competitors showing promising signs of robust growth.
Recover.ai (FET)
FET is an Ethereum token that powers Fetch.ai, an open platform that provides tools for building innovative AI applications and services. Amidst the recent market consolidation, the FET Price trades sideways, resonating within two converging trendlines of the triangle pattern.
At press time, Fetch. Ai coin is trading at $2.35 and holds a market cap of $2 billion. If the uptrend is confirmed, then FET price will cross the overhead trendline and change the potential target of $3.48, followed by a psychological level of $5.
FLOKI
The popular dog-themed cryptocurrency Floki showed a notable rise this week as the price of Bitcoin soared to $67,000. Meme sectors often show drastic moves toward new market changes due to their inherent volatile nature and the influence of speculative trading.
On May 15, the Floki Price gave a decisive breakout of the $0.0002 neckline resistance of an ascending triangle pattern. This continuation pattern is known to accelerate bullish momentum and promote an extended recovery.
If the breakout holds, FLOKI price could challenge the $0.00031 and $0.45 highs.
BONK
Solana-based Memecoin entered a fresh rally in mid-April as the price moved back from $0.000012 support. The new surge in buying interest increased the coin’s value by 160% to challenge the $0.000029 resistance.
An analysis of the daily chart shows that this rally has turned into an inverse head and shoulders pattern. Additionally, bullish reversal is often seen at market lows and signals a change in market sentiment.
A potential breakout of the $0.000029 neckline will intensify the bullish momentum and boost the BONK Price at $0.000047, followed by $0.000071.
AAVE
AAVE token price shows strong resilience above the $80 level amid the recent market correction. Additionally, the altcoin has repeatedly bounced from the aforementioned support, indicating that investors have actively accumulated this asset during market declines.
On May 15, AAVE price returned from the $80 support and surged 11.35% in four days to reach the $88.6 mark. If the bullish momentum persists, buyers will breach the resistance trendline and aim for a target of $153.
However, the potential recovery could lie between the resistance of $97.5, followed by $109.
Ethena (ENA)
ENA, the native utility token of the synthetic dollar protocol Ethena, has been in a correction trend over the past five weeks. Additionally, the downtrend driven by two converging trendlines indicates the formation of a falling wedge pattern.
The narrowing range of this chart pattern indicates weakening bearish momentum and the opportunity for buyers to regain control. Additionally, the ENA Prize is currently trading at $0.74 and showing an intraday gain of 3%.
A potential breakout of the wedge pattern will signal the end of the correction pattern and support ENA price to reach a high of $1.5.
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