The crypto market is at a very interesting point right now. With the recent developments and the news, it is hard to predict which coins will be on top in May. However, there are some other promising coins that we should look out for in May.
ApeCoin (APE)
APE is a token that powers the BAYC platform, which Yuga Labs are currently developing. The ApeCoin DAO manages the APE token’s governance and utility functions. The APE Foundation aims to grow an inclusive, fair, and transparent ecosystem, guaranteeing the long-term growth of the token for its holders.
The price of ApeCoin (APE) has been on the rise recently. It jumped by 50% in the last 14 days and has been trending highly in the last few weeks.
APE is currently priced at $14.70 and ranks #39 on CoinMarketCap. APE has a supply of 1,000,000,000 coins with a market cap of 4.1 billion dollars.
In the 4H timeframe, $APE/USDT’s second-highest price was reached last week at 27.57 on April 28th. It is currently on strong horizontal support, and a bullish move is expected in it.
Terra (LUNA)
Terra is a blockchain-based, trustless platform for eCommerce. It has fiat-pegged stablecoins to offer stability when doing cross-border business. Terra (LUNA) is a promising cryptocurrency that could work well as a medium of exchange and payment. Many cryptocurrency experts are optimistic about this currency’s potential in the cryptocurrency world because it is inexpensive and easy to trade.
LUNA is currently priced at $82.82 and ranks #8 on CoinMarketCap. LUNA has a supply of infinite coins with a market cap of 28.4 billion dollars.
In the 1D timeframe, $LUNA/USDT was trading between the resistance zone and the support zone, and there will be a possible pump for LUNA if they are bullish.
XRP (XRP)
XRP is the native cryptocurrency used on products developed by Ripple Labs. It provides fast & cheap transactions with lower volatility, making it a suitable option for settling transactions and exchanging money.
XRP is currently priced at $0.6075 and ranks #6 on CoinMarketCap. XRP has a supply of 100,000,000,000 coins with a market cap of 29.2 billion dollars.
In the 1D timeframe, the $XRP/USDT price is on a horizontal support, and a bullish move is expected. However, if it breaks down the support, we will see a bearish trend in it.
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Closing Thoughts
Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
