Data: Monthly performance of the top five cryptocurrencies up in May 2021

Let’s take a look at the top five rising cryptocurrencies in May: TEL (241%), MATIC (137%), ETC (96%), RLC (67%), and ATM (54%).

May was particularly bad for the cryptocurrency market. While some cryptocurrencies grew, bitcoin fell a full 31%, a drop that was exacerbated by one of the biggest drops ever on May 19.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

Let’s take a look at the top five rising cryptocurrencies in May: TEL (241%), MATIC (137%), ETC (96%), RLC (67%), ATM (54%).

Telcoin (TEL)

TEL is a decentralized cryptocurrency based on the ethereum blockchain. It aims to connect the cryptocurrency and telecom industries. Its goal is to be able to send mobile money instantly at a very low cost.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

Considering its focus on the remittance market, it is targeting an average cost per trade of 2%.

Since reaching an all-time high of $0.0649 on May 4, TEL has been following a downward resistance line (dashed line), which it broke on May 25.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

It is validating the rising support line since the bullish hammer candlestick created by TEL on May 19.

Polygon (MATIC)

MATIC is a platform designed to scale and build on ethereum. With the continued success of decentralized applications (dApps), the current ecosystem struggles to meet the demand for scaling. This has led to high Gas fees and slow block confirmations.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

MATIC combines the features of the Ethernet blockchain to create a multi-chain system. As a result, it can solve the problem of slow speed and Gas fees without giving up security.

The system is similar to other multi-chain systems such as Cosmos (ATOM), Avalanche (AVAX) and Polkadot (DOT), but also benefits from the ethereum network.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

MATIC hit a low of $0.74 on May 23 and started to move up, which seems to be the start of a new rally. On top of that, MATIC has broken out from the downside resistance line.

Currently, it is very close to the $1.59 support level, which was created by: the 0.5 Fiboracci retracement, the horizontal support zone, and the previous downside resistance line.

Ether Classic (ETC)

ETC is an ethereum chain that was originally launched in 2016. After the network was hacked, opinions differed on how to handle the response, and whether the blockchain should be restored was the main cause of disagreement.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

ETC has fallen all the way since May 6, when it hit a new all-time high of $176. This drop validated the previous all-time high resistance area of $44.50 as a support level.

After this validation, ETC started moving up again.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

iExec RLC (RLC)

iExec is a provider of decentralized computing that uses blockchain technology to create a marketplace for monetizing arithmetic power. In addition, it supports applications in various fields such as artificial intelligence, healthcare, and big data. It also provides easy and secure access to servers for dApps.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

The network consists of computing resource providers who receive native tokens RLC as a reward for their contributions.

RLC may form a triple bottom pattern at the $4.50 support zone. A break of the lower resistance line would likely confirm the bullish pattern.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

Atlético Madrid Fan Token (ATM)

The Atletico Madrid Fan Token (ATM) is a functional token that provides Atletico Madrid fans with a tokenized share of participation in club decisions through the use of Socios’ applications and services. ATM is the official fan token of Atlético Madrid.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

The token has been consolidating in the $15-$21 range since May 23rd. In addition, there is a potential symmetrical triangle.

Data: Monthly performance of the top five cryptocurrencies up in May 2021

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/data-monthly-performance-of-the-top-five-cryptocurrencies-up-in-may-2021/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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