CPI Report Could Be the Catalyst – Here’s Why Solana and Jupiter Might Be the Best Altcoin Bets This May

The latest consumer price index report might trigger a market shift. This timely update could present valuable opportunities in the altcoin space. Opinions are emerging that Solana and Jupiter could stand out as top picks this May. Discover which factors could drive their potential growth and why these altcoins are catching attention. Jupiter (JUP) Shows Mixed Price Action Amid Rebound and Decline Last month, Jupiter experienced a notable surge, with prices rising approximately 35% after a brief downturn of nearly 10%. However, over the last six months, the coin faced a significant drop of around 59%, indicating strong long-term downward pressure despite recent gains. The daily price fluctuations and shifting market sentiment illustrate a coin that is caught between short-term recovery attempts and persistent long-term weakness, emphasizing potential volatility that requires careful trade management. Current trading levels range from about $0.344 to $0.552, with immediate resistance near $0.63 and support around $0.22. The RSI sits at approximately 51, reflecting a balance without clear dominance from either bulls or bears. This suggests a trading strategy focused on monitoring these key levels for potential breakout or breakdown opportunities. SOL Price Surge: Short-Term Gains Amid Long-Term Drop Solana prices jumped over 27% in the past month while falling nearly 30% over the past six months. The recent surge boosts short-term optimism despite the longer-term drop. Price action during the month saw a lively rebound that contrasts with the broader six-month weakness, reflecting renewed investor interest amid persistent market pressure. Current trading ranges from $109.63 to $171.27 with resistance at $194.93 and support at $71.65. Bulls have pushed prices upward in the short term, although overall bearish sentiment lingers. This situation offers trading ideas around support levels with caution near resistance, as no clear trend is dominating the market. Conclusion Solana and Jupiter show strong potential this May. Growing interest and adoption highlight their promise. Market indicators suggest a positive trend for both. Strategic investments in these coins may yield significant returns. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Source: Bitzo