The current state of the cryptocurrency market is characterised by Bitcoin (BTC)'s consolidation phase and a shift in investors' focus towards altcoins. Investors are turning their attention towards altcoins due to their volatile and promising price movements, as Bitcoin's price remains within a tight range. As the primary cryptocurrency shows a minor decline, analysts are predicting the start of a period where alternative cryptocurrencies may outperform it. Commonly referred to as an "altcoin season." If Bitcoin's price finds support in the coming days, some altcoins may surge to new highs. The Top Altcoins To Watch out for May and June 2023 are Cardano(ADA), Polygon (MATIC) and the new meme coin Dogetti (DETI).

Cardano's Price Outlook Following Bullish Reversal Formation

Cardano's price has experienced a significant boost in today's trading session, with the breach of the inverse head-and-shoulders (H&S) pattern's neckline, indicating a successful completion of the bullish reversal setup. In line with typical market behaviour, prices tend to pull back following a breakout from a pattern, returning to the level from which it broke out. Therefore, in this scenario, the price of ADA may experience a slight decline towards the neckline.

 Should the price bounce back from this point, it may indicate that buyers have effectively transformed the neckline into a supportive area. Such a progression could potentially clear the path for an upward trend in the coming week, with a likelihood of reaching the $0.60 threshold as suggested by the pattern's projection.

Polygon (MATIC) Shows a Price Surge

Over the last few days, Polygon (MATIC) has demonstrated impressive price growth, ranking among the leading performers in the altcoin market. On April 12, the price briefly slipped below the support line of the symmetrical triangle pattern, but the long tail of the candlestick indicates that bulls bought aggressively at lower price levels. This led to a rally in the MATIC price, eventually breaking through the 20-day estimated moving average (EMA) at $1.12. The bullish momentum caught aggressive bears off guard, which could result in a potential short squeeze.

Although the price faced significant resistance from bears as it approached the resistance line of the symmetrical triangle pattern, it has managed to trade at $1.18, with a surge of 3%. According to TradeView, a crypto analyst, if the price of the altcoin surges above $1.25, MATIC whales may increase their accumulation rate, pushing the price to $1.5 by next week.

Dogetti: The New Favourite Meme Coin

The pre-sale of Dogetti (DETI), a new cryptocurrency token featuring a dog and mafia theme, has been a remarkable success. DETI is specifically designed to establish a robust community where wealth can be inherited by family members who belong to the Dogetti community.

Dogetti has already garnered significant interest from its target audience. In the second phase of DETI's pre-sale campaign, 8.65 billion DETI tokens were sold, raising $915,339 and surprising the cryptocurrency industry. Investors and traders in meme coins are drawn to Dogetti due to its unique features, such as the Dogetti DAO, NFT collecting, NFT breeding mechanism, and other upcoming innovations. These attributes are intended to make this meme coin a favourite among crypto enthusiasts.

Dogetti's success in the pre-sale market and its innovative features have caught the attention of the cryptocurrency industry. As more people become aware of Dogetti's potential, it could emerge as a significant player in the cryptocurrency space. With its strong community focus, unique features, and promising investment opportunities, it will be fascinating to see how Dogetti fits into the larger picture of the cryptocurrency market and the way it maintains its momentum.

The potential onset of an altcoin season is a topic of speculation among market observers, with the possibility of some altcoins surging to new highs if Bitcoin finds support. The bullish reversal setup of Cardano(ADA)'s price and the strong performance of Polygon (MATIC) suggest that these altcoins may be worth watching next week. Additionally, the success of Dogetti (DETI) in the pre-sale market and its unique features have captured the attention of investors and the broader cryptocurrency industry, raising the possibility of it becoming a significant player in the market.

For more information about Dogetti (DETI):

Presale: https://dogetti.io/how-to-buy

Website: https://dogetti.io/

Telegram: https://t.me/Dogetti

Twitter: https://twitter.com/_Dogetti_