May Predictions for DOGE, ETH and LUNC Coin from Artificial Intelligence!

May Predictions for DOGE, ETH and LUNC Coin from Artificial Intelligence!
May Predictions for DOGE, ETH and LUNC Coin from Artificial Intelligence!

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Although the crypto market has recovered a bit after the recent decline, it has not been able to achieve a strong upward momentum. This points to uncertainty about the direction of the market. A strong March was followed by a volatile April. Now eyes are focused on what May will bring. We took a look at AI’s May predictions for DOGE, ETH and LUNC Coin for our readers.

Artificial intelligence predicts DOGE price for May 1st

As you have been following on, the crypto market has been mixed. The popular meme coin Dogecoin (DOGE) is facing downward price pressure. Dogecoin has found use in various sectors, including payments. Its association with Tesla CEO Elon Musk points to potential additional use cases. The large-volume meme coin has approximately 7 million on-chain holders.

Despite significant user engagement and significant market presence, AI predicts bearishness for Dogecoin in the coming weeks. Influenced by bearish market sentiment and a ‘Greed’ index of 66, CoinCodex predicts that the DOGE price will fall to $0.136776 by May 20th. This represents a decrease of approximately 14% from the current price of $0.1596 for the meme coin.

Dogecoin price prediction 1-month chart. Source CoinCodex

Artificial intelligence predicts May 1 LUNC Coin price

Terra Classic (LUNC Coin) has made a jump after the recently accepted block size proposal. Currently, LUNC Coin is trading relatively high in the last 48 hours. Still, the token is far from out of the woods. Despite the recent increase in LUNC Coin price, the price of Terra Classic remains significantly below the 2024 prices. It has also lost nearly 25% in red over the last 30 days of trading.

In this environment, according to PricePredictions’ artificial intelligence algorithms, the LUNC Coin price is likely to decisively end its 30-day downtrend. But at the same time, it is unlikely to turn the recent rally into a more significant bull run. Indeed, the platform predicts that LUNC will trade at $0.000110 on May 1. So given its price of $0.0001106 at the time of writing, it doesn’t expect the token to make a significant move in the coming days.

LUNC price prediction. Source: PricePredictions

Artificial intelligence predicts May 1 ETH price

Ethereum (ETH) has recently experienced considerable volatility amid market price swings. Despite this uncertain environment, ETH continues to hold above the important $3,000 support zone. Some of the volatility can be attributed to whale activity, as they transfer a significant amount of tokens to exchanges. For example, Whale Alert data from April 20 showed that 10,911 ETH worth approximately $33.52 million were transferred to Coinbase.

At the time of writing, ETH was trading at $3,193, up about 0.75% in the last 24 hours. However, on the weekly chart, Ethereum fell as low as $2,900. Ethereum now stands at a critical crossroads. A loss of this $3,000 level could trigger a further downward trajectory. CoinCodex’s AI algorithm predicts that Ethereum will trade at $3,117.08 on May 1. This means it will remain almost the same as its current value.

ETH forecast, May 1, 2024. Source: CoinCodex

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May Predictions for DOGE, ETH and LUNC Coin from Artificial Intelligence!