The fourth month of 2023 has ended, and the crypto and altcoins market are still in flux. With the recent adoption of the MiCa law by the European Parliament, a new age of cryptocurrency regulation is about to begin, leaving investors unsure of the direction the market will take.
Despite the uncertainties, there are still many chances to seize, such as inexpensive cryptocurrencies that can be bought for just $1. Three cryptocurrencies to keep an eye on in May are listed.
#1: Cardano (ADA)
Investors have just started to pay attention to Cardano (ADA). Cardano whales, or significant holders, gambled on the coin in April and bought ADA worth over $200 million.
Although ADA has dropped 12% over the past week, analysts think the correction may indicate a bullish retest before it creates an inverse head and shoulders structure. According to Cardano’s chart, the current $0.387 is a favorable opportunity to buy, and the coin may rise in value over the next several weeks.
ADA/USD 4-hour chart | Source: TradingView
#2: Polygon (MATIC)
One of the most well-known layer-2 blockchains is Polygon (MATIC). At $0.9846, the price is currently a little under $1. The token has dropped 38% from its February 2016 peak of $1.542 and 10% during the past month.
Even though MATIC’s downward trend is still present, many investors looking to stack on a top 10 cryptocurrency may find the current chart a favorable entry point.
MATIC/USD 4-hour chart | Source: TradingView
#3: Fantom (FTM)
Since it unveiled a new mainnet upgrade, the next-generation Layer-1 DeFi platform has generated a lot of buzz. It promises to reduce block, and P2P processing speeds by 30% and quickly scale the network to process files and search logs.
Despite declining 22.8% in the previous week, FTM has increased in value by over 100% since the year began and is presently trading at $0.4214. A glance at the chart reveals that FTM just reached a high of $0.633, which suggests that the price may resume movement in the next months.
FTM/USD 4-hour chart | Source: TradingView
The price of an item is simply one aspect to consider while investing in cryptocurrency. Investors know that a well-rounded portfolio should have a mix of good assets, regardless of their price, despite the temptation to concentrate only on low-cost options to accumulate more tokens. Having said that, the cryptocurrencies we’ve selected are reasonably priced and have a lot of room to grow and advance in May.
Read more:
- Here’re 3 Cryptocurrencies To Watch For The Week Of April 24
- List Of 3 Altcoins That Shouldn’t Be Traded In May
- Is It Time To Buy Bitcoin Now?