Many cryptocurrencies have seen exceptional rallies throughout March and April and have approached new all-time highs.
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BeInCrypto analyzes potential cryptocurrencies that could see new all-time highs (ATHs) in May as the market enters the post-halving month.
BNB is closer to breaking a 3-year record
BNB Coin, the native token of the world's largest cryptocurrency exchange Binance, has been attempting to surpass the previous ATH of $686. The last time BNB was at this price was almost three years ago, in May 2021.
BNB has struggled to break above the $640 resistance level over the past two months and is currently trading at $612. However, according to the Relative Strength Index (RSI), there is room for further growth for the altcoin.
The RSI measures the speed and change of price movements, indicating overbought (above 70) or oversold (below 30) conditions, helping to evaluate possible trend changes. As long as BNB is below the overbought zone, it can continue to rise.
At just over 12% away, BNB Coin has a good rally opportunity in May.
However, BNB is vulnerable to corrections as overall market signals are not explicitly bullish. If the cryptocurrency exchange token falls through the $520 support, a bullish outcome would be invalidated.
