Bitcoin’s price recently reached close to $65,000 after the introduction of Hong Kong ETFs, but has since dropped to $62,000. April was a disappointing month for crypto investors, and the outlook for May is uncertain. However, there are three altcoins that could potentially outperform Bitcoin in the coming weeks.
Binance Coin (BNB) had a slow start but quickly recovered after resolving legal issues. While most altcoins have fallen to significant support levels, BNB’s price has remained relatively positive at $590. It has been consolidating for over a month and a half, struggling to break above $640. If Binance Coin can surpass the $635 to $645 range, it may rise to $686 in May, with the potential for further increases.
PEPE Coin has been competing with Dogwifhat (WIF) Coin and has shown strength. Despite low trading volumes and internal disputes, it managed to build a large community last year, indicating long-term potential. Over the past three months, this meme coin with a frog theme has seen a nearly 600% increase. If it can maintain its position above the 50-day Exponential Moving Average (EMA), it could reach a new high of $0.000010.
Tron (TRX) is an established altcoin that has consistently performed well, thanks in part to its founder Justin Sun. While other prominent crypto figures have fallen, Justin has remained resilient. Tron’s price has rebounded from $0.109, preventing further declines. With the 200-day EMA on the verge of crossing above the 50-day EMA, bullish momentum is building, and new highs are possible in the coming month. With the RSI in the neutral zone and strong support, May could be a promising month for TRX if Bitcoin doesn’t experience significant losses.
Disclaimer: The information provided in this article should not be considered investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.
