These 4 Cryptocurrencies Could Soar to All-Time Highs in May

Many cryptocurrency assets have posted exceptional rebounds throughout March and April and are close to hitting new all-time highs.

BeInCrypto analyzes digital assets that could potentially hit another all-time high (ATH) in May as the market enters the post-halving month.

BNB is closest to breaking a three-year record.

BNB Coin, the native token of Binance, the world’s largest cryptocurrency exchange, attempted to break the previous ATH of $686. The last time BNB was at this price was almost 3 years ago in May 2021.

BNB has struggled to break the $640 resistance level over the past two months and is currently trading at $612. However, according to the Relative Strength Index (RSI), altcoins have room for further growth.

RSI measures the speed and change in price movement, indicating overbought (above 70) or oversold (below 30) conditions and helps evaluate potential trend reversals. As long as BNB remains in overbought territory, it may continue to rise.

With a distance of just over 12%, BNB coin has a fair chance in the May rally.

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However, BNB is vulnerable to corrections because the broad market signals are not explicitly bullish. If the exchange token breaks out of the support at $520, the bullish results will be nullified.

Bitcoin (BTC) is still in the game

Bitcoin prices have been hovering around $70,000 and $65,000 since rebounding a month ago. Since then, cryptocurrencies have experienced one of the most anticipated and optimistic events of the past four years: the halving.

BTC did not witness an immediate surge in value, but a supply shock is expected to hit eventually. This pushes the Bitcoin price past the ATH of $73,737, down 14% from the trading price of $64,530.

Read more: Bitcoin Halving History: Everything you need to know

Over a larger time frame, Bitcoin price is following a Wyckoff pattern, which makes BTC’s long-term outlook optimistic. Therefore, the rally will further validate the pattern.

Nonetheless, if the strength dissipates before a new ATH is formed, the Bitcoin price could fall below $60,000. This invalidates the optimistic results and leaves BTC vulnerable to further declines.

Bitget token (BGB) faces two resistances.

Bitget token price is mainly focused on breaking two important resistance levels by posting a new ATH. BGB has been facing a downward trend since hitting a high of $1.38 in early April.

As a result, the altcoin is currently trading at $1.19, down 15% from its ATH. This high could be broken if the cryptocurrency asset turns resistance at $1.24 into support and rebounds to test $1.38.

The Moving Average Convergence Divergence (MACD) indicator also indicates the same thing. MACD is a trend-following momentum indicator that shows the relationship between two moving averages. It helps identify potential buy and sell signals based on crossovers and divergences.

This indicator is at the peak of a bullish crossover, which signifies a bullish outcome for the cryptocurrency.

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However, if support at $1.15 is broken, the bullish argument will be invalidated, pushing BGB further away from the new ATH.

Temperature (ONDO) integration needs to be broken

Ondo prices have been trading sideways for the past month and a half and are currently trading at $0.799. The altcoin is at a support level of $0.797, a break from which could push it back up to an ATH of $0.977. This could potentially increase by 22%.

RSI above the neutral line of 50.0 indicates bullish support for the altcoin as it suggests potential room for growth.

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However, if the support at $0.797 is broken and ONDO falls below $0.738, the bullish argument will be completely invalidated. This will cause the altcoin to fall below $0.700.