Top 5 Best Performing altcoins In 2019
Top 5 Best Performing altcoins In 2019
The Cryptocurrency project aptly named as Satoshi Nakamoto Vision aims to be the original bitcoin, by restoring Bitcoin�s first protocol while stating that it can massively scale with increased stability. "Top 5 Best Performing altcoins In 2019"
1.Bitcoin SV
Bitcoin SV Cryptocurrency had a remarkable run during May and was the clear leader during the second half of the month after prices broke out on May 21, bringing it back above the elusive $100 price tag.
Prices peaked at $252 according to data from Bittrex after landing itself in overbought territory and triggering a pullback, as shown by the daily relative strength index (RSI) exceeding a value of 70.
BSV/USD pair remains bullishly bid above a technical resistance level of $148, but a strong close below could re-expose the $90 support in the coming weeks.
2.Chainlink
Chainlink�s (LINK) staggering 200 percent rise in mid-May suffered a setback as the monthly close approached, but today remains 96 percent up on the month, placing it firmly in 2nd place within the top 5 performers for May.
Concerns are now building for greater drawdown, courtesy of a candle close below the 38.2 percent Fibonacci retracement line on the daily chart, exposing the neutral pivot along with the 50 percent retracement at $0.84.
Prices remain bullishly bid above the 200-daily moving average (red line) and above a key resistance that became support at $0.68, but expect a pullback if its price breaks below the neutral 50 percent retracement.
3.DENT
DENT is a token issued on the Ethereum blockchain platform that aims to facilitate global communications via its platform and service offerings.
Its performance on the month was bullish, to say the least, concluding May with a 78 percent higher price than it started and ranking as the 3rd best performer of the month.
However, recent market developments have thrown into contention the short-term bullish trend as prices dipped below key support by the time the monthly trading period came to a close.
Similar to that of LINK, the longer term view remains bullish while trading above the 200-day moving average (red line), which looks set to complete positive crossover with the 100-day moving average on another significant upward move.
4.Bitcoin Gold BTG
Bitcoin Gold (BTG), yet another bitcoin fork, changed BTC�s proof-of-work algorithm from SHA256 to Equihash, rendering specialized mining equipment obsolete in an attempt to democratize the mining process.
Traders heavily favored Bitcoin Gold buy opportunities in May 2019, leading it to place as the 5th best performing Cryptocurrency this month, outperforming other notable bitcoin forks such as bitcoin diamond (BCD) and bitcoin private (BTCP).
BTG�s rising channel spanning more than four months looks set to break down courtesy of a rising wedge (bear reversal pattern) residing within the channel�s most recent price action. In addition, along upper wick on the daily timeframe is evidence strong sell pressure still exists above $30.
Should momentum falter here, a drop in value toward the 61.8 percent Fibonacci retracement line at $20.34 may be in the offing but will remain bullish so long as the channel pattern holds.
5.Holo (HOT)
Holochain (HOT) is a decentralized application platform that uses peer-to-peer networking for processing agent-centric agreement and consensus mechanisms between users.
Beginning in late May 2019, HOT managed to break a key resistance zone of $0.0016, carving out a further 57 percent rise in value before prices peaked at $0.0027 on May 29.
From there it has been a downhill battle for HOT with the forfeiture of the 38.2 percent retracement line opening up the neutral pivot point at $0.0018 (50 percent retracement).
If Holochain prices continue to falter, buying pressure is likely to support HOT near $0.0016 due to it being a previous resistance zone.
