Top 4 Cryptos Gearing up for All-Time Highs in May

April was an extremely bullish month for the cryptocurrency market, a welcome respite after a three-month downward trend.

Bitcoin (BTC) increased over 15%, while several altcoins moved more than 100%, despite a robust Bitcoin Dominance Rate (BTCD).

This article will analyze four cryptocurrencies with bullish formations that can reach new all-time highs in May.

Will Solayer Continue Rallying?

The LAYER price reached its all-time high on April 30. However, the wave count suggests LAYER could be nearing a local top.

The count shows that Solayer is in wave three of a five-wave upward movement. Wave three has extended and has 2.61 times the length of wave one.

The Relative Strength Index (RSI) also generated a bearish divergence (orange). Combined with the sub-wave count (black), it suggests a local top is in place.

If the LAYER price begins to correct, the closest support will be $2.73, created by the 0.382 Fibonacci retracement support level.

After the wave four correction, the LAYER price will likely begin wave five, taking it to a new all-time high.

A target for the movement’s top can be determined once wave four is over.

HYPE Price Aims for Breakout

The HYPE price has decreased inside a descending wedge since its all-time high in December 2024.

The decline culminated with a low of $9.29 on April 7, after which the HYPE price bounced.

HYPE trades at the wedge’s resistance trend line, which coincides with the $20 resistance area.

A successful breakout could take Hyperliquid to the next resistance at $27.5, the final one before the all-time high.

Technical indicators are bullish, supporting the breakout.

After generating a bullish divergence (orange), the RSI and Moving Average Convergence/Divergence (MACD) rallied and crossed their bullish thresholds.

As a result, a breakout from the wedge is the most likely future HYPE price prediction.

Does SUI Have Enough Strength?

The SUI price started a five-wave upward movement on April 9 and broke out from a descending resistance trend line. 

SUI’s resistance has existed since the all-time high, so its breakout is a positive sign for the long-term trend.

After its breakout, SUI faces rejection at the 0.618 Fibonacci retracement resistance at $3.97 and has fallen since.

The wave count suggests wave three is over, and the SUI price is now correcting in wave four.

While a significant extension would be required for wave five to take the price to a new all-time high, SUI can still do so.

Final DEEP Price Increase

Deepbook Protocol is the final crypto asset that can reach a new all-time high in May.

Its price movement is very similar to SUI, meaning the DEEP price is in wave four of a five-wave increase.

Wave four is an irregular flat correction and could end soon. If this is true, a sharp and significant wave five often follows.

Similarly to SUI, a considerable extension in wave five can cause the DEEP price to reach a new all-time high.

Bullish May Cryptos

April was an extremely positive month for LAYER, SUI, DEEP, and HYPE.

All four have positive formations and could increase even further in May, possibly reaching new all-time highs.

About the Author

Valdrin Tahiri

Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.

He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.

Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.

He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.

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