Top 3 Performing Cryptocurrencies in May 2019

Share Article

During the month of May, the top three highest performers from the top ten cryptocurrencies ranked by market capitalization were EOS (EOS), Bitcoin Cash (BCH) and Ethereum (ETH). In this analysis, we examine the price fluctuations of all three — plus Bitcoin (BTC). We then summarize our findings.

Sponsored





Sponsored

EOS Price Steadily Increasing

The EOS price is analyzed at daily intervals from Feb 11 to May 31, alongside the 100- and 200-day moving averages.

On Feb 14, the price reached a low of $2.76. A gradual increase began. Since then, the price has been trading inside the ascending-broadening wedge outlined below. The highlighted part is the price of EOS during the month of May:

Sponsored



Sponsored

On Apr 28, the 100- and 200-day moving averages (MAs) made a bullish cross. It could be an indication that a long-term uptrend has begun. Throughout the month of May, the price traded above both the MAs.

EOS began the month with a gradual decrease, touching the support line of the wedge on May 10. An increase ensued and EOS reached the highest prices for the month on May 31 — trading very close to the resistance line at $8.65.

Bitcoin Cash Price in an Ascending Channel

The BCH price is analyzed at daily intervals from Mar 10 to May 31 alongside the 100- and 200-day moving averages.

On Mar 12, the price made a low of $122.2. A gradual increase began which intensified on Apr 2. The price reached a high of $363.3 on Apr 3.

Since then, it has been increasing, trading inside the ascending channel outlined below:

The BCH price increased steadily throughout May.

On May 16, a bullish cross between the 100- and 200-day moving averages occurred. It reached a high for the month on May 30 — trading at $482.0 and touching the resistance line of the channel.

Ethereum Price

The price of Ethereum is analyzed at daily intervals from Mar 18 to May 31 alongside the 100- and 200-day moving averages.

On Mar 25, the price made a low of $132.67. A gradual increase began and the price made a high of $187.98 on Apr 8. Since then, it has been trading inside the ascending triangle outlined below:

On May 7, a bullish cross between the 100- and 200-day moving averages occurred. This preceded the breakout from the channel which occurred on May 13. A rapid increase ensued, and the price reached a high of $279.0 on May 16.

The price reached a high for the month on May 30, reaching a top of $289.42.

Bitcoin Price in an Ascending Channel

The price of Bitcoin is analyzed at daily intervals from Mar 18 to May 31 alongside the 100- and 200-day moving averages.

On May 13, the price made a low of $6880.0. A gradual increase began and the price made a high of $8352.3 on May 16. Since then, it has been trading inside the ascending channel outlined below:

On May 10, a bullish cross between the 100 and 200-day moving averages occurred.

The highest prices for the month were reached on May 30 when the price made a high of $9109.0.

May 2019 Cryptocurrency Performance Summary

The price of Bitcoin (candlesticks) is analyzed alongside EOS (orange), BCH (blue) and ETH (green) below:

All three of the coins have followed a similar pattern to BTC. However, while BCH increased at a higher rate from beginning, ETH and EOS lagged behind. Furthermore, the pattern of BCH is the closest to that of BTC.

ETH began to increase at a faster rate on May 13 and briefly took over the top spot on May 16. It finished the month in third place, after BCH which was second.

EOS increased at the slowest rate until May 23, when it began a rapid upward movement. This move lasted until the end of the month and EOS finished May as the highest riser.

A summary of our results is presented in the table below:

Asset Rate Of Increase Position
EOS 71.2% 1st
BCH 65.3% 2nd
ETH 59.3% 3rd
BTC 51.5% 4th

Which cryptocurrency do you think will be the highest riser for the month of July? Let us know in the comments below.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.

Follow Author

$200 reward waiting for you — Deposit, Trade, Follow and Claim today!

Discover

Limited offer! Learn to mine and trade crypto today for free

Go