Top 5 altcoins-growth leaders for the week of May 24-31

The editors of BeInCrypto compiled a top list of altcoins that showed the maximum increase in the week from May 24 to May 31.

These include:

  1. Decred (DCR): +51,81%
  2. Enjin Coin (ENJ): +46,74%
  3. Uniswap (UNI): +33,81%
  4. Nexo (NEXO): +32,56%
  5. Polygon (MATIC): +32,27%

What minor altcoins do you think are promising? Share your opinion in the comments and join the discussion in our Telegram channel!

DCR

The DCR rate reached a historic high of $250 on April 16 and has been declining ever since, moving along the downward resistance line.

On May 10, the price formed a declining high and resumed its decline, eventually reaching a low of $87.57 on May 23. After that, the market turned around, heading north.

Technical indicators began to give bullish signals. The RSI index pierced the 50 mark. The MACD signaled a bullish reversal. The stochastic oscillator is ready to form a bullish intersection.

In addition, a rise above the A-wave minimum (red line) at $164.36 neutralizes the likelihood that we are dealing with a bearish impulse structure, pointing instead to a completed A-B-C structure.

Thus, the DCR rate can continue to grow at least to the downward resistance line, which passes at $200.

Source: TradingView

ENJ

The ENJ exchange rate formed a historical high of $4 on April 9, after which it began to decline. On the same day, the price formed a “shooting star” candle pattern.

Further, in the process of decline, the coin moved along the line of descending resistance.

On May 23, the market marked a low of $0.73, breaking under the support area of $1.15.

However, the price quickly recovered over this area. As a result, the decline that preceded this rebound began to look like a deviation on the chart (the red circle).

In addition, technical indicators give bullish signals. In particular, this is indicated by the stochastic oscillator, which forms a bullish intersection.

Thus, the market may make a bullish breakout of the resistance line. In this case, the following resistance areas will meet the price at $1.98 and $1.75, respectively.

Source: TradingView

UNI

The UNI rate hit a low of $13 on May 23 and immediately rebounded from it. The next day, the price formed a bullish absorption candle, and on May 27, it rose to a maximum of $30.

However, the coin bounced from the Fibo 0.5 level at $29 and began to roll back.

However, the market is trying to form an increasing low and continue to grow. As long as trading is above the key support area of $17.50, the trend will remain bullish.

Source: TradingView

NEXO

The NEXO exchange rate reached a low of $1.03 on May 24, but rose significantly on the same day. Soon, the price managed to recover above the $1.80 area.

During another decline, the market again tested its strength as a support on May 30 (green icon on the chart), successfully forming an increasing low.

The key resistance is located in the area of $2.57.

Source: TradingView

MATIC

The MATIC rebounded on May 23 from the $0.85 support area. After that, the price continued to rise and formed a high of $2.438 on May 26. This led to a bullish breakdown of the descending resistance line.

Subsequently, MATIC made a rebound and tested this resistance line as support. There is also a support area of $1.58, formed by the Fibo level of 0.5.

Currently, the MATIC exchange rate is trying to form an increasing minimum. If it succeeds, we can expect growth to new highs.

Source: TradingView

Read the last one bitcoin forecast may here.

Disclaimer


All information contained on our website is published in good faith and objectively, and for informational purposes only. The reader is solely responsible for any actions taken on the basis of the information received on our website.

Shibnobi Builds On Its Gains, Announces Whitelist SweepWidget Contest For $Shinja Holders

As Shibnobi, the world's deadliest Shiba, continues to gain massive momentum, the team is...

Inaugural ZENCON a resounding success

Over 200 participants and attendees of the 68-Hour-Hackathon produced 24 projects across 5 categories...

Gulf Xellence announces the most exciting and largest CRYPTO FEST 2022 to be held on 19th – 20th October in Dubai,UAE

Witness the world of possibilities under one roof – attend CryptoFest 2022. CryptoFest 2022 is...