In April, the price of Bitcoin did not perform well, leading to difficult times for alternative cryptocurrencies. The month ended with the worst closing since the bear market started. Now, altcoins are facing the possibility of reaching new lows in May.

Bitcoin SV (BSV) has been performing poorly, with buyers stepping in at $64. It is predicted to drop further to $50 in the coming days, potentially hitting its lowest level in years. The MACD indicator is not showing positive signs, and with the general sentiment of the market being negative, forecasts for the altcoin are pessimistic.

Tezos (XTZ) is currently at a critical support level of $0.945, with the risk of falling to $0.87 if this support is breached. Another stop could be seen at $0.76, with many altcoins facing declines similar to their initial rally levels. Both macroeconomic concerns and SEC decisions in May could have a negative impact on altcoins, urging investors to exercise caution.

Despite a downward trend, Synthetix (SNX) has managed to maintain support at $2.78. If this area is breached, the altcoin could search for new lows in 2024, possibly dropping below $2.

Algorand (ALGO) has held the support zone at $0.158 since the beginning of the year. A recent attempt to reach $0.185 was unsuccessful, indicating a potential deeper correction in light of the overall market downturn. With little incentive for investors and expected volatility following Federal Reserve announcements, ALGO may reach a new low between $0.158 and $0.10. While surpassing $0.185 remains a possibility, it is currently unlikely.