Analysts have identified 4 tokens whose value may collapse in May

Amid mixed market signals in April, some cryptocurrencies grew, while others approached new local lows. Cryptocurrency analysts have drawn attention to four altcoins that may continue to fall in May.

Bitcoin SV
The price of Bitcoin SV has been declining since early April. At the time of writing, the token is trading at a yearly low of $ 64 and is at risk of falling to $ 50. Technical indicators, including the MACD, do not give any hints of a reversal. Thus, if the broader market sentiment does not change to positive, BSV will be waiting for another low to be updated.

Tezos
The Tezos altcoin is on the verge of breaking through the most important support level of $ 0.945, which will lead the altcoin to a yearly low of $ 0.87. If this level is lost, XTZ could fall to $ 0.76.

Synthetix
Trading at $ 2.89 at the time of writing, Synthetix is just above the $ 2.78 support line. Losing it would lead to a potential collapse to a six-month low. A drop in SNX to $ 2 would make recovery even more difficult.

Algorand
Since the beginning of 2024, the price of Algorand has been holding $ 0.158 as support. Although the altcoin bounced off this level early last week, the next retest could be a setback. The loss of this support will most likely cause ALGO to fall to $ 0.10.