Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction – NewsTo
Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction

Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction


The crypto market has experienced heavy selling pressure over the past few days, which has prompted a correction phase in several prominent cryptocurrencies. Here are some of the top coins offering discounts before the start of the next recovery cycle, despite the fact that the market’s overall trend is still bullish.

Top 3 Cryptocurrencies To Invest

Cardano (ADA) 

Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction
Source- Tradingview

The price of the Cardano coin indicates a series of fresh higher highs and higher lows on the weekly time frame chart, which may be an early indication of a trend reversal. A rising channel pattern may be seen forming if we connect the peak of these price fluctuations.

Two rising trendlines are shown in this pattern, during which the price had a persistent uptrend. The ADA price fell to the pattern’s support trendline with the recent market selling pressure, providing a positive reversal potential if the buyers are able to hold this level.

At the time of release, Cardano is trading at $0.35, but a rebound might push the price up 42% to the resistance trendline at $0.5.

(LTC) Litecoin

Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction
Source- Tradingview

The price of Litecoin has been using a support trendline to sustain its ongoing bullish surge, according to the daily time frame chart. In the event of a pullback to this support, buyers will have sufficient support to assemble and restore the positive momentum.

LTC price is currently trading at $81.15 and exhibits a rising support reversal indication with smaller price rejection candles. The purchasers will obtain an additional launchpad that can push Litecoin’s market value 26% higher to reach the monthly barrier of $103-$102.5 if the coin price manages to overcome the immediate resistance of $81.5.

In any case, a breakout over the indicated barrier is necessary to see the subsequent surge.

Cosmos(ATOM)

Top 3 Cryptocurrencies To Invest In May 2023 During Market Correction
Source- Tradingview

On the daily time frame chart for the Cosmos coin price, a descending triangle pattern has formed. The sellers are anticipated to break through the important neckline support of $10.3 under the guidance of the bearish continuation pattern, which might accelerate the decline.

The rising daily RSI indicator, however, shows that the underlying bullish trend is gaining strength. This strength indicator’s bullish divergence points to a strong likelihood of a breakout above the above trendline.

This breakout will debunk the bearish thesis and may encourage investors to push the price of ATOM up 43% to a peak of $15.45.

Leave a Reply

Your email address will not be published. Required fields are marked *