Top Altcoins to Watch in May for Potential Gains: Theta Network (THETA), Ravencoin (RVN), and Akash Network (AKT)
The crypto market’s volatility in April has led to significant growth for Bitcoin and many altcoins. However, some lesser-known coins missed out on this opportunity but are gearing up for potential gains in May. BeInCrypto has conducted an analysis to highlight three altcoins that are poised for growth in the coming month.
First up is Theta Network (THETA), which has experienced a downtrend throughout April and the second half of March. Despite this, the Moving Average Convergence Divergence (MACD) indicator has recently shown a bullish crossover, indicating a potential uptrend for THETA. If the altcoin can break out of its bearish pattern, it may reach $3 as a support level.
Next, Ravencoin (RVN) is on the verge of a breakout as it aims to flip key Fibonacci retracement levels into support. With the MACD also showing signs of a bullish crossover, RVN could see further upward movement if it can breach these levels successfully.
Lastly, Akash Network (AKT) has seen significant growth following its Upbit listing and upcoming summit. The altcoin is currently trading just below a critical Fibonacci retracement level, and closing above it could lead to a rally towards $5.50 and beyond. However, failure to secure this level as support may result in a decline to $4.10.
Investors are advised to conduct their own research and consult with a professional before making any financial decisions. The crypto market is subject to change, and conditions may shift rapidly.
