Markets
3 bullish cryptocurrencies are expected to outperform Bitcoin (BTC) in June
Bitcoin currently holds over 50% market dominance in the cryptocurrency industry and is generally considered less volatile than other cryptocurrencies.
Let’s explore which altcoins might perform well in June if Bitcoin reached its all-time high of $73,000.
Bitcoin Approaches ATH at $68,000, But Some Altcoins Remain Undervalued
After undergoing a correction to $56,000 in early May, Bitcoin closes the month on a positive note and is currently trading at $68,000, approaching its all-time high. Some altcoins have not seen a similar recovery due to the deep correction they suffered during Bitcoin’s drop to $56,000.
Analysts have noted that some altcoins are still considered undervalued compared to Bitcoin and are not yet experienced a prolonged breakupT above key resistance levels. These three coins were selected for analysis based on their past performance as of early 2024.
The value of Arbitrum (ARB) could increase by 20-45% next month
The ARB/BTC chart shows a significant downtrend, with the price action consistently below the daily Ichimoku Cloud and the 100D EMA. The current consolidation near support levels suggests a critical juncture.
This chart mirrors the BTC pair, highlighting a consolidation phase below the key resistance levels marked by the daily Ichimoku Cloud and the 100D EMA.
ARB/USDT vs. ARB/BTC (1D). Source: TradingView
ARB/BTC: A breakout above the 0.00002178 BTC level (100D EMA) would signal a strong trend reversal, potentially triggering bullish momentum.
ARB/USDT: Break above $1.265 levels and thereafter $1.667 levels confirm a bullish trend, attracting more traders.
To know more: Arbitrum Price Forecast (ARB) 2024/2025/2035
Why ARB Could Outperform BTC in June
Change in market sentiment: Breaking above major resistance levels would turn market sentiment from bearish to bullish, attracting more investors.
Ecosystem expansion: The continued development and growing adoption of Arbitrum could significantly increase demand for ARB, leading to superior performance compared to Bitcoin.
Injective (INJ) could see a 20-45% increase in June as Bitcoin rises
The INJ/BTC chart reveals a prolonged downtrend, with repeated failures to break out of the daily Ichimoku Cloud and the 100D EMA. The price currently tests the support level, indicating the potential for a breakout.
This chart shows the consolidation with resistance levels identified. Price action below the daily Ichimoku Cloud and 100D EMA suggests a tipping point for a potential upside move.
INJ/BTC: Breaking above the 0.0005380 BTC level would indicate a trend reversal and bullish momentum.
INJ/USDT: It could break above $29.40 and then $36.36 levels signal a robust bullish trend.
Why INJ Could Outperform BTC in June
Injection protocol DeFi the offerings are unique and potentially attract significant interest and investment, especially because the DeFi the sector is expanding.
INJ is higher volatility compared to Bitcoin it presents greater potential returns during BTC bullish moves.
ORDI investors expect gains of 10-30% in case of a positive breakout
The ORDI/BTC chart illustrates a downtrend with consolidation below the daily Ichimoku Cloud and the 100D EMA. The price is near a support level, suggesting the potential for a breakout.
This chart shows the consolidation with key resistance levels identified. Price action below the daily Ichimoku Cloud and 100D EMA indicates a possible bullish breakout.
ORDI/BTC: A breakout above the 0.000829 BTC level would signal a trend reversal and bullish momentum.
ORDI/USDT: Breaking above the $51.94 level and then the $67.30 level would confirm a strong uptrend.
Why ORDI Could Outperform BTC in June
As a cryptocurrency project using the Bitcoin blockchain, Ordinals (ORDI) can gain significant momentum if Bitcoin rises, lifting the entire Bitcoin ecosystem.
To know more: Top 10 Altcoin Trades in 2024
Due to its higher volatility than Bitcoin, ORDI can offer greater potential returns during bull market phases.
General market dynamics
Altcoins such as ARB, INJ, and ORDI exhibit greater volatility and could offer greater 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.
That of Bitcoin Upward market trends often increase altcoin prices. However, the unique value propositions and ecosystem growth of altcoins such as ARB, INJ, and ORDI may result in even more significant price movements once Bitcoin consolidates at higher levels.
Disclaimer
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