3 Altcoins to Watch in the First Week of May 2025

Bitcoin recently surpassed the $95,000 mark, reigniting optimism in the cryptocurrency market and boosting the value of many altcoins.

BTC's price surge has rekindled investor confidence, and with the first week of May underway, three altcoins stand out as potential candidates: Ethereum (ETH), Virtuals Protocol (VIRTUAL), and Solayer (LAYER).

Ethereum (ETH)

Ethereum is preparing for the long-awaited Pectra upgrade, expected to go live on the mainnet on 05/07. This improvement is anticipated to significantly enhance Ethereum's scalability, validation mechanism, and smart contract architecture.

Despite its price potential, this upgrade comes with risks that could impact ETH's price. Major exchanges are expected to temporarily suspend ETH deposits and withdrawals during the implementation, which could cause short-term volatility or temporary selling pressure.

Moreover, any technical challenges during the deployment could create market uncertainty and negatively affect market sentiment.

ETH is currently trading at $1,808 at the time of writing, showing a steady increase in price momentum. This is reflected in its Chaikin Money Flow (CMF) index, which is currently at 0.13 and trending upward. Such a positive CMF indicates increasing buying pressure. If this trend continues, ETH could rise to $2,072.

Conversely, if demand decreases, the coin's price could drop to $1,744.

Virtuals Protocol (VIRTUAL)

VIRTUAL has increased by 37% over the past week, becoming the best-performing asset in the market over the past seven days. It is currently trading in an ascending parallel channel, confirming the increase in buying pressure.

This price pattern forms when an asset's price moves between two upward-sloping parallel trend lines, with one serving as support and the other as resistance. This pattern indicates a sustainable uptrend with stable price fluctuations between the parallel lines.

If VIRTUAL maintains this channel, it could rise above $2 to trade at $2.15.

However, if demand decreases and VIRTUAL breaks below the support line of the ascending parallel channel, its price could drop to $0.96.

Solayer (LAYER)

LAYER has increased by 14% over the past week, trading at $3.02 at the time of writing. Examining the LAYER/USD chart for a day shows the token's Aroon Up Line at 100%. This indicates its current strong uptrend, supported by significant demand for this altcoin.

An asset's Aroon indicator measures trend strength and direction by tracking time since the highest and lowest prices within a specific period. It comprises two lines: Aroon Up, measuring price increase momentum, and Aroon Down, tracking price decrease pressure.

For LAYER, with the Aroon Up line at 100%, the asset has recently reached a new high. This is true for the token, which traded at its All-Time-High of $3.43 on Monday morning.

This trend suggests high buying pressure, and the price may continue to rise. If this occurs, LAYER could return to its All-Time-High and surpass it.

Conversely, if selling begins, the token's price could drop to $2.46.