Price Analysis

Top Altcoin To Stack For May As Market Turns Bullish!

The volatility in the crypto industry is on a constant rise, highlighting increased buying and selling pressure in the market. Moreover, top altcoins have recorded a significant uptrend in their respective charts, suggesting a high potential for a positive price action during the coming time.

In this article, we have covered the market sentiments and price targets for the top 3 Altcoins that have the potential to outperform the crypto market during the upcoming month.

Stacks (STX):

The STX token jumped 5.38% within the past day, resulting in its price on the verge of testing its important resistance level of $3.088, the outcome of which is uncertain. However, the volatility is on a constant rise with the market favoring the bulls, indicating a possibility of an altcoin rally soon. 

TradingView: STX/USDT

Furthermore, the Stacks price has added 21.73% within the past seven days and its YTD stands at 103.68%, highlighting a positive outlook for this altcoin in the market. Further, the Stacks token has displayed a bullish price action by surpassing the EMA 50-day in the 1D time frame.

The technical indicator, MACD, displays a positive outlook for the STX price in the coming time as its averages show a bullish convergence in the 1D time frame. Moreover, the histogram records a rising pattern, suggesting the price will continue trading under a bullish sentiment.

If the market holds the price above the support level of $3.085, the Stacks price will continue rising and prepare to test its upper resistance level of $4.250 during the upcoming month. However, a bearish trend reversal may pull the price toward its support level of $2.52.

Kaspa (KAS):

After recording a successful 2023, the Kaspa price displayed a neutral trend for the first month of 2024, indicating a reduced price action for the altcoin in the market. However, as the volatility increased, the price recorded a jump of 88.63% within the next few days.

KAS Price Analysis
TradingView: KAS/USDT

The price recorded a yearly high of $0.183, following which the bulls lost momentum and recorded a correction of 36.62% in value. Since then, the price has been trading in a closed range between $0.116 and $0.140.

The MACD shows a flatline in the chart, suggesting a weak buying and selling pressure for the altcoin in the market. Furthermore, the averages display a bullish crossover, highlighting a bullpower in the market.

If the market continues trading under a bullish influence, the KAS price will test its upper level of $0.162. Conversely, if the bulls lose momentum, the Kaspa token will fall to test its support level of $0.116 in the coming time.

ImmutableX (IMX):

The IMX price has displayed a strong bullish reversal in the chart after trading under a bearish convergence for about a month. The ImmutableX token has recorded a jump of 5.52% within the past day and 20.16% over the past week, suggesting a high potential for a bullish price action in the coming time.

IMX Price Analysis
TradingView: IMX/USDT

The Moving Average Convergence Divergence (MACD) displays a rising green histogram, highlighting a bullish outlook for the IMX price this week. Further, the averages show a positive price action, suggesting a bullish outlook for the ImmutableX token during the coming time.

If the market pushes the IMX price above the resistance level of $2.55, the bulls will prepare to test its upper resistance level of $3.08 in the coming time. Negatively, bearish price action may result in the ImmutableX token falling toward its support level of $1.97 this month.

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