There are thousands of different cryptocurrencies in the market, each with its own features, advantages, and risks. The overall crypto market is going through a correction phase. However, that has given us a good opportunity to accumulate cryptos for decent gains.
Let’s have a look at 5 top cryptos for May 2023:
Bitcoin
Bitcoin (BTC) is the oldest and most popular cryptocurrency in the world. Bitcoin is still one of the best cryptocurrencies to buy in May 2023 because it has proven its resilience and dominance in the crypto space. We believe it’s the best crypto to invest for substantial gains. Let’s take a look at the chart for trend analysis:
The target for the inverse head and shoulder breakout, which has already been verified, is around 41200, which is also the golden retracement level of 61.8%.
This is a very likely situation because the general public is still bearish and the current positive trend can only be corrected by a maximum liquidity hunt of $25,000.
Love Hate Inu
f you are looking for a crypto that combines the fun of memes with the utility of voting and earning, you might want to check out Love Hate Inu (LHINU). This is a new project that aims to disrupt the online survey market by introducing the first blockchain-powered voting platform that rewards users with LHINU tokens for participating in polls and staking.
Love Hate Inu is backed by a strong team of experts and advisors from various fields, such as meme marketing, blockchain development, voting systems, and social media. We believe this token is worth taking a shot. You guys can allocate a small portion of your portfolio here.
Ethereum
Ethereum is not just a cryptocurrency, but a platform for building and running decentralized applications (DApps) that can transform various industries and sectors. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Smart contracts are self-executing agreements that run on the blockchain and can facilitate transactions, exchanges, and interactions without intermediaries or central authorities. Ethereum is a great option to put your money into crypto. Let’s have a look at the chart for trend analysis:
In a 6-hour time frame, the price is consolidating inside the descending triangle. Currently, the price is getting rejected from the resistance trendline of the triangle. we have to wait for a successful breakout or breakdown to confirm its next direction.
Deelance
This new project aims to create a decentralized platform where freelancers can connect with potential employers in a secure, transparent, and rewarding way. This Web3 platform is trying the dynamics of freelancing. The token is available for pre-sale and we believe it’s a good opportunity to accumulate now.
Users can stake DLANCE tokens to access the platform and create custom polls decided upon by the community. Both actions will earn rewards.
MATIC
Matic is used to pay for transactions and computational services on the Polygon network. It is also used for staking and governance, as well as for accessing various DApps and platforms that run on Polygon. Matic has a total supply of 10 billion tokens, of which 9.25 billion are currently in circulation.
Let’s have a look at the chart for trend analysis:
In a daily time frame, the price is moving above the Horizontal S/R zone. A bounce is expected from here. On the other hand, if it breakdown the S/R zone with a successful retest, then it can go downward.
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