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Bitcoin ($BTC) is the biggest cryptocurrency in the world, but at times, even altcoins can surpass the performance of the king coin.
BeInCrypto analyses which three such altcoins hold the potential to outperform $BTC in the month of May.
Binance Coin ($BNB) Is Still in the Competition
Binance Coin price has been in consolidation for over a month and a half, attempting to close above $640. However, the altcoin has failed to do so, leaving it stuck trading around the $560 to $620 range.
However, $BNB has the benefit of support from its investors and bullish market cues. The exchange native token is less than 16% from its all-time high of $686. Breaching it would enable Binance Coin to note further rise.
Nevertheless, consistent consolidation is also possible and could extend the wait for a new ATH.
$PEPE Won’t Stop
Despite facing tough competition from dogwifhat (WIF), Pepe ($PEPE) has surprised the market with its recent rally. In the past three months, the frog-themed meme coin has witnessed a 586% growth.
If the meme coin stays above the 50-day Exponential Moving Average (EMA), it could reclaim $0.00001000 as support.
Tron ($TRX) Takes It Back
Tron’s price bounced back from the lows of $0.109, nearly avoiding the formation of a death cross. This bearish phenomenon occurs when the 200-day EMA crosses over the 50-day EMA. However, a sudden surge in Tron price resulted in the aversion of this death cross.
This has opened $TRX up to the potential of a rally since the Relative Strength Index (RSI) is in the bullish zone.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, indicating overbought or oversold conditions. It ranges from 0 to 100 and is typically used to identify potential trend reversals.
Should the RSI maintain the 50.0 neutral line as support, $TRX could continue its rally.