The volatility of the crypto market recently dipped after a promising start to May. Even so, some altcoins have continued to defy market trends and rise. This raises an intriguing question: which of these altcoins is on the verge of making history?
BeInCrypto has carefully analyzed three altcoins that are approaching new All-Time Highs (ATH) as we near the third week of May. Let’s dive into their current state and potential for growth.
Saros (SAROS)
SAROS recently hit its all-time high of $0.171 in April. Currently, it’s trading at $0.153, maintaining support just above $0.147. This positions it only 11.4% away from its peak, showcasing its potential for growth if market conditions turn favorable.
The fate of SAROS largely relies on broader market momentum. If the bullish trend sustains, it may very well breach the $0.171 resistance, paving the way for SAROS to climb towards $0.200. Factors like market sentiment and general trends in the cryptocurrency space will play significant roles in this potential rise.
However, if SAROS fails to uphold the $0.147 support level due to rising selling pressure or negative signals, it may drop to $0.134. Such a decline would invalidate current bullish projections and postpone the altcoin’s quest for reaching new highs.
Maple Finance (SYRUP)
Maple Finance has experienced a remarkable surge of 113% this month, currently trading at $0.331. This impressive performance positions it close to its all-time high, highlighting an increase in investor interest and momentum surrounding the token.
Just recently, SYRUP set a new all-time high at $0.384, and a mere 15.66% bump from its current price would surpass this peak. A focus on recovering from today’s 9% dip could indicate promising bullish momentum ahead.
On the flip side, if profit-taking escalates, SYRUP might dip below $0.288, risking a further decline to around $0.244. Such a drop could invalidate the positive outlook, likely deterring investors and causing prices to stagnate or fall further.
Leo Token (LEO)
LEO’s price currently sits far from its January ATH of $10.33. To reclaim this peak, LEO requires robust market support and heightened investor confidence, both of which have been scarce in recent weeks amid ongoing volatility.
A 20% uptick is essential for LEO to reach its all-time high, although achieving this could prove challenging, especially considering that its largest single-day gain this year was just 4.47%. Nevertheless, a surge in Bitcoin’s value beyond $110,000 could rejuvenate bullish momentum for LEO, especially if it can stabilize above the $9.11 support level.
Conversely, if LEO falls below the $8.51 support level, it might subsequently decline to $8.20. Such a downturn would further undermine the optimistic outlook and potentially spark additional selling pressure.
As the crypto market continues to ripple with volatility, these altcoins — Saros, Maple Finance, and Leo Token — are worth watching closely for their potential to set new all-time highs. With market dynamics ever-changing, the next few weeks could be pivotal for these tokens.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
