Bitcoin currently holds more than 50% of the market dominance in the cryptocurrency sector and is generally considered less volatile than other cryptocurrencies.
Let’s examine which altcoins could perform well in June if Bitcoin rises to 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 is closing the month on a positive note and is currently trading at $68,000, approaching its all-time high. Some altcoins did not experience a similar recovery due to the deep correction they underwent during Bitcoin’s drop to $56,000.
Analysts noted that some altcoins are still considered undervalued compared to Bitcoin and have yet to experience a sustained breakout above key resistance levels. These three coins were selected for analysis based on their past performance in early 2024.
Arbitrum (ARB) could increase in value by 20-45% next month
The ARB/BTC chart shows a significant downtrend, with the price action consistently below the daily Ichimoku Cloud and 100D EMA. The current consolidation near support levels indicates a critical juncture.
This chart reflects the BTC pair, highlighting a consolidation phase below key resistance levels characterized by the daily Ichimoku Cloud and 100D EMA.
ARB/BTC: A breakout above the 0.00002178 BTC level (100D EMA) would signal a strong trend reversal, potentially generating bullish momentum.
ARB/USDT: Breach of the $1,265 and, consequently, the $1,667 levels will confirm a bullish trend, attracting more traders.
Read more: Arbitrum (ARB) Price Prediction 2024/2025/2035
Why ARB May Outperform BTC in June
Market Sentiment Shift: Overcoming key resistance levels will change market sentiment from bearish to bullish, attracting more investors.
Ecosystem Expansion: Arbitrum’s continued development and increasing adoption can significantly increase ARB demand, leading to superior performance against Bitcoin.
Injective (INJ) could rise 20-45% in June with rising Bitcoin
The INJ/BTC chart reveals a prolonged downtrend, with repeated failures to break above the daily Ichimoku Cloud and 100D EMA. The price is currently testing the support level, indicating the potential for a breakout.
This chart shows consolidation with identified resistance levels. The price action below the daily Ichimoku Cloud and 100D EMA indicates a critical point for potential upward movement.
INJ / BTC: If the 0.0005380 BTC level is breached, it will indicate a trend reversal and bullish momentum.
INJ/USDT: Break above the $29.40 and then the $36.36 levels would indicate a strong bullish trend.
Why INJ could outperform BTC performance in June
Injective Protocol’s DeFi offerings are unique, potentially driving significant interest and investment, especially as the DeFi sector expands.
INJ’s higher volatility than Bitcoin offers greater potential returns during BTC’s bullish moves.
ORDI investors eye 10-30% profit on positive breakouts
The ORDI/BTC chart illustrates a downtrend with consolidation below the daily Ichimoku Cloud and 100D EMA. The price is near a support level, suggesting the potential for a breakout.
This chart shows consolidation with key resistance levels identified. The 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: Breaching the $51.94 level and then the $67.30 level will confirm a strong bullish trend.
Why ORDI outperformed BTC in June
As a cryptocurrency project using Bitcoin’s blockchain, Ordinals (ORDI) could gain significant momentum as Bitcoin rises, upending the entire Bitcoin ecosystem.
Read more: 10 Best Altcoin Exchanges in 2024
Due to its higher volatility than Bitcoin, ORDI can offer greater potential returns during bullish market phases.
General market dynamics
Altcoins such as ARB, INJ and ORDI show higher volatility and can 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.
Bitcoin’s upward trends in the market often increase altcoin prices. However, unique value propositions and ecosystem growth of altcoins such as ARB, INJ and ORDI could result in even more significant 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 construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimers have been updated.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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