4 digital currencies at risk of collapsing to their lowest levels in May

I witnessed Digital Currency Markets March and April showed mixed performance, with prices of some assets rising while others approached record highs. As May approaches, market conditions remain unclear, meaning some altcoins could see significant price drops.

Bitcoin SV risks falling further

Bitcoin SV (BSV) is the result of a complete split or hard fork on a network Bitcoin Cash (BCH)). The price of BSV has been falling since the beginning of April. The altcoin price is now trading at $64 at the time of writing, the lowest level in 2024.

This will not be the only record that will be broken, as the price of the currency is expected to fall.bsv At the $50 level in the coming days, reaching its lowest level since December 2023.

Technically, the MACD also does not show clear signs of a trend. BSV parts prices. Although there is a slight rise (shown in green) on the indicator, this does not indicate an upward trend.

As a result, with broader market signals, a selling wave may change direction. BSV Pricewhich could lead him to a new record.

Tezos coin (XTZ) is still in a downtrend

Professions Tezos Coin Price (XTZ) is currently above the $0.945 pivot support level. If this level is broken. The price will be pushed down to $0.87, which is the lowest level for the currency. XTZ Since the beginning of the year.

If this support level is also lost, there is a good chance that it will push the price of the altcoin to $0.76, which would effectively become the lowest level for the Tezos XTZ coin since the start of 2024.

In other words, this price will be a new low forXTZ Price In 2024.

Synthetix (SNX) Risks Crashing to 6-Month Low

Synthetix (SNX) Coin Price) is currently trading at $2.89, which is just above the $2.78 support line. It has managed to stay above this support line even though it has seen a significant decline in recent days.

A break of this support line would mark a new low for the year For the SNX part. This would also be the lowest price Synthetix has seen since mid-November 2023, which could also become a six-month low.

If this decline continues, it could slide SNX Price Towards deeper levels. This downtrend could cause the SNX price to drop to $2, and it will be difficult for it to recover from.

Algorand (ALGO) should be wary of this level of support

He succeeded Price of Algorand (ALGO) has managed to hold $0.158 as a support level since the start of 2024, testing it twice. Early last week, the altcoin bounced off the same support to trade at $0.185. However, forecasts indicate that ALGO's price is likely to fall below this level this time.

Amidst bearish market signals and lack of incentives for investors at the moment, ALGO price may drop all the way to the $0.158 level. Loss of this level as a support floor will then result in exposure ALGO Price At risk of falling to $0.1000.

The realization of this scenario will cause this altcoin to fall to its lowest level in several months. It will also make recovery more difficult. Therefore, you will probably witness currency ALGO big drop coming.