3 Coins Have The Potential To Shoot Up In May
Event | Reason | Analysis | Profit | Ideas
The month is almost over, and many different coins have had amazing rallies. Although, you might have missed the rally in many altcoins this month but you won’t make the same mistake next month.
Next month, significant events are likely to happen in some coins. The coins might provide us a nice movement as a result of this event. You can think of trading by catching this movement.
A little correction is going on in the market but this correction will end soon. It would be ridiculous to look at this depth from the standpoint of fear, therefore it should be looked at from the perspective of buying.
Now we will discuss 3 such coins whose main event will take place in May. Positive news can come from this event, and price movement may start before the event. There is a possibility of benefiting from this.
The chiliz project falls under the category of fan tokens. Chiliz is about to launch a blockchain for sports and they are going to do something different.
Chiliz is a bit old coin and it started with a fan token. They have very solid management based on the fan token, team, and community concepts.
Everyone is a fan of one or more sports, and these fans are willing to leave work to support their favorite team. This has been going on for a long time. In short, don’t underestimate the fan token.
Chiliz may be a small altcoin but the concept behind it is good. They work in sports activities and are going to launch a new blockchain for Sports on 10th May. Perhaps movement will begin in the CHZ token before May 10. Keep a look out for this token.
A few days ago, all of the tokens in the Fan Token category had a more than 100% surge. This surge might happen again in the following month, therefore we should keep an eye on these coins.
Chart
In 2021, the price of CHZ increased by more than 1000% in just a few weeks. Since then, it has only been in correction mode. After two years, a triangle pattern formed in this correction mode. The price of CHZ will experience a significant rise whenever this triangle pattern broke at $0.15.
On May 15, GALA will be doing an airdrop of its version 2 tokens. All Gala holders will get new tokens at a 1:1 ratio in this airdrop. You may remember that there were serious problems with the Gala project a few months ago, so everything had to be shifted to a new chain.
For a few days, the price of the Gala token saw some excellent movement. People still have faith in the Gala, and anything in this coin may happen at any time. All the big analysts and influencers are keeping an eye on it.
Due to the airdrop of the version 2 token of GALA next month, a positive movement can be seen in the price of the token.
Chart
Gala’s price is now fluctuating between 0.35 and 0.50. You might concentrate on the 0.35 level as a strong support. The level of 0.50 has served as resistance many times in the past. If a breakthrough is discovered from this level, the price might rise by 50%.
Earlier the concept of Liquidity seemed quite normal but as soon as Ethereum shifted to POS, all the Liquidity Platforms have seen better days.
Ethereum has unlocked a few days ago. People will resume staking ETH when this event is ended. LIDO and Rocket Pool are both fairly large staking pools right now. As soon as the market begins to recover, both of these coins are going to have a big movement.
Earlier only tokens were staked, but ever since the facility to convert staked ETH into StETH has come, the demand for these staking pools has increased.
Lido is going to have a mainnnet upgrade in May and the date of the event has not been declared yet.
Chart
For Lido Token, a level of $2 is a pretty solid support. Right now it is standing near this support, due to this, a bounce can be seen in it as soon as there is some recovery in the market. The price of LDO moves very slowly, so a small target of $2.5 can be expected in May.
Avalanche will have an important meeting or conference in the first week of May. Keep an eye on it.
From an event standpoint, I am really optimistic about these three tokens. Follow me since I’ll be writing soon an article about opportunities that are coming in many other altcoins.
The article is very short but I hope it was helpful for you.
Clap — Share — Comment — Happily ☺4
Disclaimer
This is not Financial Advice. This article is meant only for educational purposes. I am just sharing my thoughts and analysis based on my many years of experience.
