Home Investing & Trading Altcoin Trader Alert for May 6

Altcoin Trader Alert for May 6

by Brandon Harville

Looking for the biggest winners and losers over the weekend? Here’s our top-five gains and top-five losses for May 6th.

Top coins with positive 24-hour price changes

1. Horizen (+5.37%)

ZEN is the biggest winner over the weekend, gaining a total of 5.37% as the rest of the market continues to cool off. While it looks like things have calmed down, it’s looking optimistic for investors already holding ZEN tokens.

2. Aeternity (+3.5%)

Aeternity has enjoyed a relatively strong pump over the past day. While the coin did experience some organic gains, many analysts attribute the latest breakout to FOMO and encourage last-minute traders to exercise caution before purchasing any AE tokens. Long-term investors, on the other hand, are welcome to find a suitable entry point.

3. Loopring (+1.67%)

LRC is enjoying a breakout from its two-day bear run. At the moment, it’s anybody’s guess whether LRC will continue to hover around the $0.057 mark or if it will dip or breakout. Since it hasn’t topped its previous week high, this could be a great entry point for traders and investors.

4. DigiByte (+1.53%)

Coming off the heels of a downward trend, DGB enjoyed a small gain over the past 24 hours. With that said, analysts are cautious about this token’s long-term performance. Many believe that we’re a long way away from seeing support. Short and approach with caution.

5. NULS (+1.02%)

NULS, the highly customizable blockchain project, gained little more than a percent over the last 24 hours. This coming right after a four-day dip. Judging by its volatile chart patterns, it’s difficult to tell which direction the token will move.

Top coins with negative 24-hour price changes

1. Maximine (-21.88%)

It’s been a bad day for MXM, dropping more than 20% in value over the past 20 hours. While it’s likely that the cloud-based mining token could continue to drop, some analysts are speculating that this could be a great entry point for investors.

2. DigiXDAO (-11.05%)

DigiXDAO is still recovering from an 11% loss, dropping back below the $30 mark as the crypto market continues to cool off. With no major news coming out of the DigiXDAO camp, it’s only safe to believe these drops are part of a greater market fluctuation.

3. Cosmos (-7.57%)

Coming off a breakout of the past few days, ATOM drops -7.57% and is subject to ongoing speculation. Traders and investors are encouraged to exercise caution and look at the overall health of the market before purchasing more of this token.

4. Siacoin (-7.01%)

No news emerging from the Siacoin team as the token loses 7% of its value. As with the other tokens mentioned, Siacoin’s future performance looks to be closely linked to the overall market.

5. Project Pai (-6.09%)

PAI experienced a significant drop over the weekend, going from $0.0397 to a low of $0.034. The good news is that the token bounced back relatively quickly from the correction breaking the $ 0.037 mark once again.

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