As of mid-May, the altcoin market remains steady, with many projects holding firm within upward patterns or maintaining clear support zones. The continuing decline in Bitcoin dominance is leaving room for altcoins to show relative strength. However, early signals of potential short-term corrections are beginning to surface, which means traders should approach overheated setups with caution.
Litecoin (LTC), XRP, and Cardano (ADA)
Litecoin continues to hold above the key $100 level. The $105.5 resistance area has been tested several times but hasn’t been broken yet. A clear breakout above this range could open the door to targets around $110 and $111. However, any drop below $100 would increase the risk of a bearish reversal.
XRP has reached $2.60, with the $2.63 mark acting as strong resistance. As long as support at $2.42 remains intact, there’s room for a continued move towards $2.70. The current trend remains well-structured, but a dip below $2.42 would be the first signal of weakness in this setup.
Cardano (ADA) is currently trading sideways between $0.77 and $0.86. A breakout above $0.86 could push the price up to $0.90 in the short term. Since there hasn’t been a downward break, the overall upward structure of the chart remains intact.
VeChain (VET), Solana (SOL), and Chainlink (LINK)
VeChain continues to stay above the 2.9-cent level. To unlock further upward potential, the token needs to break through the 3.3-cent resistance. If this occurs, a move toward 3.5 cents could follow. As long as the recent low holds, a return to previous highs remains possible.
Solana recently retested the important price range between $183 and $185. A breakout above the $192 to $195 region could signal renewed bullish momentum. However, if the price falls below $180, the short-term outlook would become more uncertain.
Chainlink (LINK) wasn’t explicitly mentioned in this market note, but it remains part of the broader trend that continues to show strength in various altcoin sectors.
