ALGO, AVAX, HNT, LINK Price Analysis: May 5

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ALGO’s price might rise to $0.21 while AVAX might break the $40.00 resistance.
HNT might drop to $5.11 if another bearish candlestick appears on the chart.
LINK’s next target could be close to $16 following increasing upward momentum.

Many altcoins have shed a substantial part of their values in the last 30 days. Data from CoinMarketCap showed that cryptocurrencies like Algorand (ALGO), Avalanche (AVAX), and Chainlink (LINK) have been affected by this decline.

But in all of this, Helium (HNT) has towed a persona path as its price increased by 17.41% in the last seven days. Here is a thorough analysis of the prices and predictions.

ALGO Price Analysis

At press time, ALGO’s price was $0.19 and bulls were attempting to push the price higher. Coin Edition also looked at the Exponential Moving Average (EMA) to ascertain the potential price direction.

At press time, the 9 EMA (blue) had crossed above the 20 EMA (yellow), indicating that the trend was bullish. Also, both EMAs reinforced the support at $0.18, indicating that an upside could be next for the token. From this analysis, ALGO’s next target could be between $0.21 and $0.23.