Crypto Analyst Highlights Promising Altcoins for May Breakouts
The crypto market shows signs of recovery with Bitcoin maintaining levels above $90,000–$95,000. Increased stablecoin issuance and bullish patterns across major assets contribute to this optimism.
Key Insights
- Tether's recent issuance of two $1 billion mints raised USDT and USDC supply to an all-time high, indicating strong demand for speculative assets.
- Bitcoin navigated macroeconomic challenges, including negative GDP data and persistent inflation, while maintaining a three-month upward trend.
- Analyst Josh Olszewicz highlights potential altcoin opportunities driven by liquidity and Ichimoku-cloud mechanics.
- Solana is showing a bullish pattern with a potential move towards $200, while Curve has already increased by over 10% amidst general altcoin declines.
- Ethereum and Litecoin are lagging but have bottoming structures that may trigger future growth.
- Fetch.ai and Chainlink show promising setups, while Dogecoin and PEPE indicate possible retail interest in the meme coin segment.
- Bitcoin dominance remains high, potentially impacting altcoin performance in the coming months.
At press time, Solana (SOL) traded at $151.90.
