Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ALTCOIN NEWS»Will altcoin season start in May 2024? 3 Cryptocurrencies to Track
ALTCOIN NEWS

Will altcoin season start in May 2024? 3 Cryptocurrencies to Track

By Crypto FlexsMay 1, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Will altcoin season start in May 2024?  3 Cryptocurrencies to Track
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin prices were expected to rise after the halving at the end of April. But when that didn’t happen, investors turned to altcoins.

Many people are predicting that altcoin season will begin soon, but with the exception of these three altcoins, it seems unlikely.

Bitcoin dominance is on the rise again

Bitcoin dominance reached 56.32% in mid-April before starting to fall to 54.34%. However, in the past few days, this dominance has increased to almost 55%, threatening the emergence of altcoins and the market is eyeing altcoin season.

In fact, altcoin season typically occurs when 75% of the top 50 coins outperform Bitcoin over the past 90 days. This figure is well below the altcoin season threshold, which is currently set at 35%.

Therefore, it is highly unlikely that the altcoin season will take place in May, so it may instead extend into June. Nonetheless, these three altcoins are expected to be launched next month.

Ethereum (ETH) is showing a bullish reversal pattern.

Trading at $3,063, Ethereum’s price failed to break the upper trend line of the descending wedge it has been trapped in since March. Following past failed attempts, the world’s second-largest cryptocurrency asset could break out after rebounding from $2,991 support.

A falling wedge is a bullish chart pattern characterized by converging downward trend lines, indicating a possible reversal in a downtrend. Based on this pattern, the target setting for ETH is 16.7% above the upper trendline at $3,695.

Read more: Ethereum ETF explained: What it is and how it works

Ethereum price performance. Source: TradingView

However, if the support at $2,991 is broken, Ethereum could fall to $2,800, invalidating the optimism.

Helium (HNT) expected to face a reversal of death cross

The price of helium fell to $3.63 last week before recovering sharply. During the downtrend, the altcoin formed a deadcross. This occurs when the 50-day exponential moving average crosses below the 200-day EMA and usually indicates a potential downtrend or market weakness in the future.

Nevertheless, the recent recovery is closer to not only nullifying the death cross but also forming a golden cross. This could push the price of HNT above the $6.33 resistance level and turn into support. The uptrend could put Helium on course for a 26% rally that could take it back to the $7 and $8 support levels.

Read More: Helium (HNT) Price Prediction for 2024/2025/2030

Helium price performance.
Helium price performance. Source: TradingView

However, if the dead cross weighs more than a potential breakout, it could fall to $3.6. Losing this level invalidates any bullish argument.

Can Shiba Inu (SHIB) escape from the descending channel?

The price of Shiba Inu is moving within a descending channel, but a bullish breakout could occur in the coming days with support from the 50-day and 200-day EMAs.

A break above the upper trendline at $0.00002584 could translate to a 29% growth for the meme coin, potentially sending it to $0.00003332.

Read more: How to Buy a Shiba Inu (SHIB) and Everything You Need to Know

Shiba Inu price performance.
Shiba Inu price performance. Source: TradingView

This rise could be seen in May if the meme coin does not witness a decline on the daily charts. A loss of support at $0.00002268 could cause SHIB to fall below $0.00002000. This invalidates optimism and increases the possibility of loss.

disclaimer

In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025

Trump is a magical Eden encryption wallet tie, Trump coin deep 13%

June 5, 2025

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin dives for less than $ 102K in fading momentum and macroscopic uncertainty.

June 6, 2025

Arca EXEC writes a scratch on Circle after IPO

June 6, 2025

The robot of 1x Technologies aims to revolutionize ordinary work with AI.

June 5, 2025
Most Popular

Hoskinson criticizes Vitalik for failing to acknowledge Cardano’s staking innovation.

November 26, 2023

Uniswap advocates use of BSL license for V4: A new model for DeFi?

November 27, 2023

Celsius, Tether, Badger DAO, Compound, Netanyahu’s Nephew File Lawsuits

August 10, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.