The Investment Centre broker presents the two top cryptos for May that hold the growth potential
Via ZEXPR, Let’s dive into the top crypto base for May 2021 and the first one that is selected by the broker, Daniel Hyman, from The Investment Centre is Eternity Change (ERN).
Eternity Change (ERN):
Right now one ERN token is just below $20 and this ranks 262nd on CoinGecko that of course is important to mention to evaluate the next month if they outperform the market or not. The market cap is just under $200 million.
Now why this was selected as one of the top picks? The reason for that is, some decent NFT drops are coming to eternity chain in May and one of these is the NFT collection from Pele, course the football legend I think everyone knows this person but this is going to drop at the beginning of May.
They also have some amazing other partnerships such as with Tony Hawk, Mohammed Ali, Boss logic- the artist, etc. So, a lot more world stars in their fields are dropping NFT collections on Eternity Chain that is why analysts think they are one of the best in the world in terms of NFT platforms.
Aside from some amazing drops coming in May which of course will cause the cost like for demand for ERN tokens. The ERN chart is also looking prime for a move up because it has been in a falling wedge for more than a month right now. Analysts think that we are prime to go towards these next several areas that the analysts have highlighted here. So, we have one resistance level at $25, one at $33, and then this very important zone between $40 more or less and $44.
It’s not unlikely to think that Eternity Chain will get to watch the second level maybe even the third level because it is such a long-falling wedge and it would not be extraordinary to see the price go to what’s half more or less of this start falling wedge. So, this is the area to aim at maybe not for May but after May, however, at least investors will get towards this level. So, hopefully, investors will see a good performance by Eternity Change.
Chainlink (LINK):
The next big cryptocurrency for May 2021 is Chainlink. Link currently ranked 12th on coin gecko with just the price of over $35 per link. The market cap is nearly $50 million and why do analysts think Chainlink looks good for outperformance in May 2021 well, basically that’s based on the chart aside from the fact that they are releasing new partnerships every single day but the chart looks prime for a massive move up.
What we see on its chart is that there’s always this W pattern and then with the correction and after at an explosive move up, investors saw this happening every single time. This is the typical accumulation pattern for Chainlink. So, if we go back towards the very beginning once it got listed on Binance back in January 2019, we saw the first W pattern which looks a bit old compared to the other ones with a correction and after a correction. Investors saw a move of 430% up, then they saw another accumulation area with a big W with the last correction before the move up, and then it went up 1000%. Then there was a third time a big W accumulation pattern with a correction after that coming of 170%.
Right now there is a small W pattern so, a smaller accumulation pattern with the correction that is right now over and the last stage before the explosive move up so, that is why analysts think ethereum can easily go up 150% by June. They hope to see it going to $75 hopefully because Chainlink has been lagging the last few months. Since the rest of the altcoin market did pretty well so, that is another reason why analysts selected the Chainlink as the second pick for May 2021.
Cardano (ADA):
The price of Cortana is currently just under $1.30 so, to be exact it is $1.27. The market cap is 41 billion and it is ranked 6th on CoinGecko. The reason why this was selected on the list is because of what news is coming out for Cardano, well they’re going to normally launch theirprimed Alonzo test net in May and that is bringing smart contracts to Cordano. This might be the biggest trigger for Cardano ever for a new move up because the entire market and everyone is already waiting for smart contracts on Cardano for ages.
So, the Alonzo test will finally allow developers to deploy their decentralized applications on the Cardano blockchain, which will be a huge step for Cardano if it’s coming in May. According to Hoskinson, the testnet will go live at the end of April or the beginning of May. Since this is the $2.45 standard, Cordano appears to be in great shape.
Disclaimer: Our content is intended to be used for informational purposes only. It is very important to do your research before making any investment based on your circumstances. You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether to make an investment decision or otherwise.
