As we approach the halfway point of 2024, the crypto market is at a critical juncture. Major bullish catalysts like the launch of Bitcoin Spot ETFs and the Bitcoin Halving have already occurred, but the market is still facing downside risks. Despite this, certain altcoins are showing bullish setups with the potential for 5x growth in May.
Here are our top 5 altcoins to stack in May for 10x profits:
- Baby Doge Coin (BABYDOGE)
Baby Doge Coin is an underrated low-cap meme coin that has shown immense underlying potential for a bull run. Despite a recent drop of more than 60% in five weeks, the BABYDOGE price action has found a reversal spot. The bullish revival comes as a post-retest reversal of a long-term resistance trendline breakout.
With a potential morning star pattern under construction, the altcoin could soon give a massive bull run. As per the Fibonacci levels, the BABYDOGE could surge to the $0.0000000053 mark.
- Golem Network (GLM)
The Golem Network has seen a massive jump of 41% today, with the GLM price trend showing a resistance trendline breakout entry opportunity. The altcoin has maintained a positive trend in 2024, and the upcoming month could be extremely bullish with the breakout rally. The MACD and signal lines give a positive crossover, supporting the bullish prospect and reflecting an immense rise in underlying demand.
After surpassing the psychological mark of $0.50, the uptrend is heading towards the $1 milestone. If the momentum of the broader market gains continues, the breakout rally in GLM could hit $5.
- Guild of Guardians (GOG)
Guild of Guardians is the first gaming token on our list, and it is experiencing a constant rise in the number of users. The GOG token price shows a similar rise in market value, as it maintains a rising channel. The buyers are dominant, with a positive crossover in the MACD indicator and a 46% rise in the last two days.
As per the trend-based Fibonacci levels, the GOG price could break the rising channel to $0.60. If the uptrend surpasses the $1 peak, the breakout rally could easily top the $3 mark.
- HighStreet (HIGH)
Highstreet is a Solana-based token that shows bull run potential in May 2024. Moreover, with a rounding bottom reversal in the daily chart, the HIGH token price is heading for the $4 breakout. The breakout rally will surpass a critical supply zone and mark a double-bottom reversal. Further, if the broader market sentiment improves, the altcoin shows potential to hit the $20 peak, the launching price in 2021.
- Metaplex (MPLX)
Metaplex is another Solana-based token that shows a bullish entry opportunity for massive gains in May. With a support trendline at play, the uptrend continues and aims to hit the $0.50 psychological mark. Similar to most altcoins projecting trend reversal, the MACD indicator shows a positive crossover. With immense potential, the MPLX coin could hit the $1 mark in the coming weeks. Optimistically, the altcoin could hit the $2 mark by the end of May 2024.
While predictions are hard to make due to increased volatility, these altcoins show significant potential for growth in May. As always, do your research and invest wisely.
Note: This article is for informational purposes only and should not be construed as financial advice. Investing in cryptocurrencies carries inherent risks, and it is important to understand the risks before investing.
