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Top 7 Altcoins to Watch in May

Discover the leading altcoins poised for potential growth in May following the latest Fed interest rate announcement.
Published on 2023-05-04

Crypto Market Surge Post-Fed Announcement

The global crypto market cap experienced a 1.38% increase after the U.S. Federal Reserve announced a 25-basis points interest rate hike. This relief rally, the last fiscal policy announcement until June, has invigorated the crypto market, offering a chance for recovery from recent downturns. The market cap now stands at $1.20 trillion, with many altcoins showing promising gains.

Promising Altcoins for May

Several altcoins are positioned for potential growth, including Aave (AAVE), UniSwap (UNI), Chainlink (LINK), Dogecoin (DOGE), Neo (NEO), Fantom (FTM), and Cronos (CRO). These cryptocurrencies may offer substantial profits for traders and investors in the coming weeks.

Aave (AAVE)

AAVE saw a 3% price increase, trading at $71.31. Though it remains below the 9-week and 20-week EMA lines, there's potential for a multi-week rally if it reclaims its position above these levels.

UniSwap (UNI)

UNI's price increased by 1.57%, valued at $5.35. Despite this, it remains down 0.77% over the past week. Technical indicators suggest a potential drop before a recovery above the EMA lines.

Chainlink (LINK)

LINK rose by 1.43%, trading near $7.07. Its price might break out towards $9.904 if technical indicators align favorably.

Dogecoin (DOGE)

DOGE experienced a 1.02% increase. Despite recent declines, it might rebound to $0.1011, supported by positive RSI indicators.

Neo (NEO)

NEO's price increased by 1.66% to $10.19 but remains in a downward trend. A reversal above the 20-week EMA could see it reach $14.09.

Fantom (FTM)

FTM rose over 7%, trading at $0.4418. Its upward trend could see it climb to $0.6024, with potential further gains.

Cronos (CRO)

CRO's price dropped by 1.58% to $0.07075. A bullish close above the 20-week EMA may shift momentum, targeting $0.0948.

Conclusion

These altcoins present intriguing opportunities as the crypto market responds to macroeconomic changes. Investors should conduct thorough research and consider these options for potential gains in May.

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