As May draws to a close, Bitcoin and Ether seem to be struggling for momentum and may end the month with losses. This comes amid uncertainty surrounding the US debt ceiling and rising inflation. Markets are awaiting an agreement between President Biden and House Speaker McCarthy to raise the debt ceiling before the June 1 deadline. With no deal announced yet and inflation concerns growing, certain cryptocurrencies appear as opportunistic buys, such as AGIX, AXS, AI, ECOTERRA, OKB, YPRED, and HT.
SingularityNET (AGIX) has been exhibiting bullish momentum in recent trading days. Examining the technical indicators, the 20-day exponential moving average (EMA) stands at $0.28151, potentially shifting sentiment in favor of the bulls. However, the 50-day EMA sits at $0.31771 and could act as a resistance level.
Axie Infinity (AXS) also remains in the spotlight, as traders watch for a potential break past the Fib 0.786 level at $6.92. The 20-day EMA stands at $7.04, just above the current resistance level, while the 50-day EMA and 100-day EMA point to a longer-term bearish sentiment. Traders should closely watch the $6.91 to $7.04 resistance range for a possible breakout or reversal signal.
AiDoge.com is set to disrupt the cryptocurrency meme coin space with its unique “Meme-to-Earn” model. With a presale raising an impressive $14.9 million, the project’s emphasis on AI technologies and utilization of the $AI token has garnered investor interest.
Ecoterra focuses on sustainability and ecological impact. Its platform integrates major global brands such as Coca-Cola, Carlsberg, and Evian, enhancing the Recycle-to-Earn (R2E) system. The presale has already reached over $4.35 million in sales, reflecting the recognition of green crypto projects’ importance for a sustainable future.
OKB has recently followed a symmetrical triangle pattern. As the trading volume decreases alongside a price contraction, the market awaits a decisive break from the lower or upper trendline of the triangle. Based on its proximity to resistance levels, a potentially significant price movement may be on the horizon.
yPredict, an AI-driven crypto price prediction platform, has raised $1.77 million in its presale. The platform plans to offer AI-generated trading signals, pattern recognition, sentiment analysis, and a marketplace for experts to sell their research and models.
Huobi Token (HT) aims to introduce Huobi HK, offering crypto trading services in Hong Kong as part of its mission to solidify the country’s status as a universal center for Web3. Huobi’s announcement and the attempted breakout could signal an upcoming price increase if key resistance levels are successfully surpassed.
While the slow movement of the cryptocurrency market in May has generated fluctuating investor sentiment, these cryptocurrencies have exhibited favorable technical analysis and strong fundamentals, making them potentially attractive options for investors.
Source: Cryptonews
