May has started on a bullish note for the crypto market. As the market recovers from the March 2024 crash, new narratives are quickly arising. Among the topics that are heavily discussed within the crypto community are the potential "altcoins to watch in May 2024."
Here are 3 potential altcoins that are the talk of May 2025!
Ethereum (ETH)
The Simple Moving Average (SMA) continues to favor the Ethereum (ETH) price chart in the daily time frame. On the other hand, the RSI indicator continues to move towards the overbought range. This signals a bullish outlook for the altcoin in the coming time.
If the ETH coin price manages to maintain a value above the $1,800 mark, it could lead to its upper resistance level of $2,400 this month. Conversely, in the event of a bearish reversal, the Ethereum (ETH) token price could fall to its lower support level of $1,500.
Arbitrum (ARB)
Despite experiencing increased volatility, Arbitrum (ARB) price has shown a YTD Return of -52.78%, which is a strong indicator that this altcoin has a high probability of recording a strong bounce back in the near future.
SMA & RSI technical indicators have shown an increase in the positive outlook. With this level of market statistics, this altcoin could gain huge traction this month and potentially test its upper price target.
If Arbitrum (ARB) price manages to sustain a trade above the $0.3675 level, it could propel it towards its upper price target of $0.60. However, if the bullish rally fails, ARB crypto price might test its crucial support level at $0.2625.
Sui (SUI)
The Relative Strength Index (RSI) has crossed above the oversold range and continues to be sustained. Furthermore, the average trend line shows similar action, indicating that there is still significant buying pressure against selling in this crypto.
If the market favors the bulls, the price of Sui coin (SUI) could be set to test a multi-month high of $5. Recently, asset management firm 21Shares filed an SUI ETF with the U.S. SEC, fueling optimism around a further price surge.
This post first appeared on Pintuplus.
