The post Top 10 Altcoins Poised To Explode In the Month Of May appeared first on Coinpedia Fintech News
Renowned crypto analyst and the host of the Crypto Banter YouTube channel Ran Neuner recently analyzed various altcoins and shared his insights on why they are approaching the ultimate trade zone.
Pepe: A High-Risk, High-Reward Gamble
Ran noticed that Pepe, a relatively young cryptocurrency, has been pumping significantly. He emphasized that trading such coins involves a high level of risk, but their upward trends could continue, especially if Bitcoin reverses its course. To minimize risks, Ran suggested dollar-cost averaging into the position and setting a stop-loss below the previous day’s open.
Related: Is PepeCoin Worth Investing? What Next For $PEPE Price ? – Coinpedia Fintech News
Stacks, Solana, and AVAX: Watching the Ranges and Trends
Ran analyzed Stacks (STX) and identified an ongoing head-and-shoulders pattern, with a target price of $57 and then $32. Solana (SOL), on the other hand, has experienced a strong downtrend but is currently at a level where traders could go long, with a stop-loss below a specific wick. Avalanche (AVAX) is range-bound, and Ran warned that it might struggle to break through resistance levels.
Chainlink, THORChain, and Dogecoin: Monitoring Range Lows
Chainlink (LINK) is targeting the bottom of its range at $5.45, while RUNE is at an interesting level with a strong downtrend. Losing its current level could be catastrophic for THORChain (RUNE), leading to full-on capitulation. Dogecoin (DOGE) is also selling off, possibly heading down to around $0.067, says Ran.
Cosmos, Vulcan Forged, and Near: Potential Accumulation Opportunities
Cosmos (ATOM) has been holding up relatively well, but Ran expects it to follow the rest of the market if it declines. Vulcan Forged (PYR) is approaching a diagonal trend line at the bottom of its range, potentially dropping to $2.90. Near Protocol (NEAR) is back at its range lows, but these lows could hold for an extended period, making them suitable for long-term accumulation.