Bitcoin's recent surge above $95,000 has boosted optimism in the cryptocurrency market and has also led to gains in various altcoins.

The rise in Bitcoin has boosted investor confidence, and as May begins, three altcoins are showing promise as strong performers: Ethereum (ETH), Virtuals Protocol (VIRTUAL), and Solayer (LAYER).

Ethereum is preparing for the upcoming Pectra upgrade set to launch on the mainnet on May 7. This upgrade is anticipated to enhance Ethereum's scalability, validator mechanics, and smart contract system.

Despite the positive outlook, there are risks associated with the upgrade, such as potential short-term volatility due to major exchanges halting ETH deposits and withdrawals during the rollout. Any technical hurdles during the deployment could also create market uncertainty.

At present, ETH is trading at $1,808 with a notable increase in bullish momentum, reflected in its Chaikin Money Flow (CMF) of 0.13, indicating a rise in buying pressure. If this trend continues, ETH could reach $2,072. Conversely, a decrease in demand could push the price down to $1,744.

Virtuals Protocol (VIRTUAL) has surged by 37% in the past week, making it the best-performing asset recently. It is currently trading within an ascending channel, signaling strong buying pressure. If VIRTUAL stays within this channel, it could surpass $2 and reach $2.15 – but if it breaks below the support line, the price might drop to $0.96.

Solayer (LAYER) has seen a 14% increase in the past week, reaching $3.02. The Aroon Up Line on the LAYER/USD one-day chart is at 100%, indicating a robust uptrend with high demand for the altcoin. Aroon Up measures bullish momentum and suggests that LAYER's price may continue to rise, possibly surpassing its all-time high of $3.43.

If selling pressure emerges, LAYER's price could dip to $2.46.