Bitcoin (BTC) and Altcoins Rally as the Market Kicks off May on a Bullish Note

The cryptocurrency market has kickstarted the month of May on a bullish note with both Bitcoin (BTC) and altcoins rallying.

The cryptocurrency market has kicked off the month of May on a bullish note with both Bitcoin (BTC) and altcoins rallying. With a trading volume of $79.44 billion, the crypto space has jumped by 2.95%. Following this, Bitcoin price today has surpassed the $97,000 mark for the first time since February 4, 2025.

On the other hand, the altcoin market has followed in the footsteps by adding a notable value to their respective portfolio. While Ethereum price smashed the $1,800 mark, many mid-cap and low-cap altcoin recorded a double-digit price rally during this period.

Are you one of many who are planning on investing in crypto this month? In this article, we bring you the top 3 altcoins that are worth keeping an eye on this month.

1. Ethereum (ETH)

The Ethereum price today has successfully breached the $1,800 mark with an intraday jump of 5.81% and a trading volume of $15.78 billion, a change of +6.45%. However, it is currently trading at a discount of 44% this year, highlighting a huge possibility of a strong bullish reversal. With a valuation of $225.37 billion, the dominance of ETH token has increased to 7.37%.

The Simple Moving Average (SMA) constantly supports the Ethereum price chart in the daily time frame. On the other hand, the RSI indicator is constantly heading toward the overbought range. This highlights a bullish outlook for altcoin in the upcoming time.

If the ETH coin price maintains its value above the $1,800 mark, this could result in it heading toward its upper resistance level of $2,400 this month. On the contrary, if a bearish reversal occurs, the price of Ethereum token could plunge toward its lower support level of $1,500.

2. Arbitrum (ARB)

Despite increased volatility, the ARB price has displayed a consolidated price action over the past few weeks. However, it has added over 5% to its portfolio today, indicating a strong bullish reversal. With a Year-to-Date (YTD) return of -52.78%, this altcoin has a high possibility of recording a strong bounceback in the upcoming time.

The technical indicators SMA & RSI have displayed an increase in the positive outlook. Furthermore, considering the present market statistics, this altcoin could gain major traction this month and potentially retest its upper price targets.

If the Arbitrum price surpasses the $0.3675 mark, this could result in it heading toward its upper target price of $0.60. However, if the bullish rally fails, the price of ARB crypto may retest its crucial support level of $0.2625.

3. Sui (SUI)

The Sui price has displayed a strong bullish reversal during April. Reportedly, this altcoin has soared approximately 50% in 30 days, making it one of the best-performing assets of the month. Moreover, with a market capitalization of $12.38 billion, it has secured the 11th position in the crypto space.

The Relative Strength Index (RSI) has breached the oversold range and continues trading above it. Furthermore, the average trendline displays a similar action, suggesting a significant increase in the buying-over-selling for this altcoin in the crypto space.

If the market favors the bulls, the SUI coin price could prepare to test its multi-month high of $5. Recently, asset management firm 21Shares filed for a SUI ETF with the U.S. SEC, fueling optimism around a further price surge.

However, on the flip side, if the crypto market experiences increased liquidation, the price of SUI token could plunge toward its support trendline of $3.