The cryptocurrency market is experiencing a new wave of growth, with Bitcoin's recent surge and Ethereum's ETF approval sending prices soaring. As the market cap approaches $3 trillion, investors are looking for the next big thing. This article highlights three top cryptocurrencies to buy, promising significant returns on investment.

1. Ethereum (ETH)

Ethereum's price has been steadily increasing, with a 2.2% gain in the past 24 hours and a 25% increase in the past seven days. The asset continues to show signs of bullish tendencies, with the Ethereum ETF news hype settling. The Ethereum price outlook is bullish, with the asset still having some upward journeying to do.

Technical analysis suggests that Ethereum may still have another 4-6% gains to achieve before hitting the target. Ethereum dominance has also received a major boost following the recent price spike, with ETH now having over 18% dominance over the entire crypto market industry.

2. Solana (SOL)

Solana's price has surged more than 22% over the past month, driven by positive market sentiment. The altcoin has seen a slight decrease of 6.72% in the past seven days, but the recent recovery indicates potential for a rebound. If the bulls successfully push the price past the $170 resistance level, this could set the stage for further gains.

Breaking through this barrier might drive SOL towards the next key resistance at $190. Sustaining this upward trajectory could lead to an ambitious attempt to breach the $200 mark.

3. Shiba Inu (SHIB)

Shiba Inu sits on top of all three bull market indicators, starting with the 200-day, 50-day, and 20-day Exponential Moving Averages (EMAs). The Moving Average Convergence Divergence (MACD) has rebounded into the positive region, reinforcing the bullish structure. Breaching the immediate resistance at $0.000026 may encourage more people to buy SHIB, hence the FOMO in the crypto fear and greed index. This is likely to boost the price above $0.00003 and bring the next target at $0.000035 within reach.

Conclusion

Identifying the right cryptocurrencies to buy in May is crucial for every investor. Buying into projects like Ethereum, Solana, and Shiba Inu could pave the way to a higher return on investment. If Bitcoin rises to $100,000 in 2024, some of these tokens could go up 50x, changing the fortunes of many investors.