Top 3 Large Cap Cryptocurrencies to Buy Before May End

The crypto market is suffering in deep uncertainty as major cryptocurrencies like Bitcoin and Ethereum have remained flattish over the past two weeks. As a result, the broader market sentiment shows no clear indication of dominance from either party and decreases conviction on new trades. However, in this article, we have picked the top large-cap cryptocurrencies which hold their long-term bullish potential amid the volatile market.

Also Read: Peter Schiff Shocks Crypto Community With Bitcoin NFT Announcement

Binance Coin(BNB) 

Source- Tradingview 

On May 24th, the Binance coin price gave a breakdown from a support trendline that has carried a bullish rally for the past five months. With the growing indecisiveness in the market, the coin price is still wavering below the breached trendline testing it as a potential resistance. 

If the prices show sustainability below the flipped support, the sellers will drag the altcoin’s market value nearly 15% down to hit the long-term support trendline of a symmetrical triangle pattern.

This chart setup governs the ongoing sideways trend in Binance coin and can provide a strong pullback opportunity upon the retest for this support trendline. Having said that, the coin holders will obtain a strong confirmation for a sustained bull run once the price pierces the triangle pattern on the upside.

Xrp(XRP)

Source- Tradingview 

The XRP price spent nearly two months in a correction phase with two downsloping trendlines wobbled. The daily chart projected these trendlines as the formation of a parallel channel pattern. 

On May 26th, the coin price gave a decisive breakout from the pattern’s resistance trendline with notable volume indicating the buyers’ attempt to regain trend control. Today, the 0.88% price jump shows a suitable follow on the bullish breakout.

With sustained buying, the XRP price is likely to rise 24% and hit the swing top of $0.583.

Cardano (ADA)

Source- Tradingview 

On May 25th, the ADA price shows a breakdown from a long-coming support trendline of a rising channel pattern. This breakdown could have triggered a massive correction in this coin and tumbled the prices below $0.3 support.

However, the sellers failed to sustain the breakdown which resulted in the ADA price rising back above the trendline. This fake breakdown/bear trap adds more conviction to the coin holders with the pressure of demand pressure at his support.

Thus, the Cardano coin at $0.36 is likely to rise higher and breach the immediate resistance of $0.38. This breakout may trigger a new bull cycle within the pattern and drive the prices to the $0.5 mark.