Altcoins
3 bullish cryptos expected to eclipse Bitcoin (BTC) in June
Bitcoin currently holds over 50% of market dominance in the cryptocurrency industry and is generally considered less volatile than other cryptocurrencies.
Let’s explore which altcoins could perform well in June if Bitcoin hits its all-time high of $73,000.
Bitcoin Nears ATH at $68,000, But Some Altcoins Remain Undervalued
After experiencing a correction to $56,000 earlier in May, Bitcoin closes the month positively and is currently trading at $68,000, closing in on its all-time high. Some altcoins have not seen a similar recovery due to the deep correction they experienced during Bitcoin’s fall to $56,000.
Analysts noted that some altcoins are still considered undervalued compared to Bitcoin and have not yet been. experienced a sustained breakupt above key resistance levels. These three coins were selected for analysis based on their past performance as of early 2024.
Arbitrum (ARB) could increase its value by 20-45% next month
The ARB/BTC chart shows a significant downtrend, with price action consistently below the daily Ichimoku cloud and the 100D EMA. The current consolidation near support levels suggests a critical moment.
This chart mirrors the BTC pair, highlighting a consolidation phase below key resistance levels marked by the daily Ichimoku cloud and the 100D EMA.
ARB/USDT versus ARB/BTC (1D). Source: Trading View
ARB/BTC: A breakout above the 0.00002178 BTC level (100D EMA) would signal a strong trend reversal, potentially triggering bullish momentum.
ARB/USDT: Breaking through the $1.265 levels and subsequently the $1.667 levels confirm an uptrend, attracting more traders.
Learn more: Arbitrum (ARB) Price Prediction 2024/2025/2035
Why ARB could outperform BTC in June
Change in market sentiment: Overcoming key resistance levels would transform market sentiment from bearish to bullish, attracting more investors.
Ecosystem expansion: The continued development of Arbitrum and its increasing adoption could significantly increase the demand for ARB, leading to superior performance compared to Bitcoin.
Injective (INJ) Could See a 20-45% Surge in June as Bitcoin Rises
The INJ/BTC chart reveals a prolonged downtrend, with repeated failures to break above the daily Ichimoku cloud and the 100D EMA. Price is currently testing the support level, indicating the potential for a breakout.
This chart shows consolidation with identified resistance levels. Price action below the daily Ichimoku Cloud and the 100D EMA suggests a critical point for a potential move higher.
INJ/BTC: Surpassing the 0.0005380 BTC level would indicate a trend reversal and bullish momentum.
INJ/USDT: Go above $29.40 then levels of $36.36 signal a robust uptrend.
Why INJ could outperform BTC in June
Injection protocols Challenge the offers are unique, likely to attract significant interest and investment, especially as the Challenge the sector is growing.
The INJ is higher volatility that Bitcoin presents greater potential returns during BTC bullish movements.
ORDI Investors Eye 10-30% Gains on Positive Breakout
The ORDI/BTC chart illustrates a downtrend with consolidation below the daily Ichimoku cloud and the 100D EMA. Price is near a support level, suggesting breakout potential.
This chart shows the consolidation with the main resistance levels identified. Price action below the daily Ichimoku cloud and the 100D EMA indicates a possible bullish breakout.
COMPUTER/BTC: A breakout above the 0.000829 BTC level would signal a trend reversal and bullish momentum.
ORDI/USDT: Exceeding the level of $51.94 then the level of $67.30 would confirm a strong upward trend.
Why ORDI could outperform BTC in June
As a cryptocurrency project using Bitcoin’s blockchain, Ordinals (ORDI) can gain significant momentum if Bitcoin rises, lifting the entire Bitcoin ecosystem.
Learn more: 10 Best Altcoin Exchanges in 2024
Due to its higher volatility than Bitcoin, ORDI can offer greater potential returns during bull market phases.
General market dynamics
Altcoins like ARB, INJ, and ORDI exhibit higher volatility and could offer higher potential returns than Bitcoin during bullish market conditions, especially if Bitcoin returns to its all-time highs.
Breakouts above significant resistance levels are psychological triggers. They indicate a shift from bearish to bullish sentiment, encouraging more buying activity.
Bitcoin Upward market trends often drive altcoin prices higher. However, the unique value propositions and ecosystem growth of altcoins like ARB, INJ, and ORDI may lead to even greater price movements once Bitcoin consolidates at higher levels.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decision. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.