3 Bullish Cryptos Predicted Out of Bitcoin (BTC) in June
Bitcoin currently holds over 50% market dominance in the cryptocurrency sector and is generally considered to be less volatile than other cryptocurrencies.
Let's take a look at which altcoins could do well if Bitcoin surges to $73,000.
Bitcoin is close to ATH at $68,000, but some Altcoins are 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, nearing its all-time high. Some altcoins haven't had the same opportunity to recover due to their deep correction when Bitcoin hovered around $56,000.
Analysts say some altcoins are still undervalued compared to Bitcoin and have yet to experience a sustained break above key resistance levels. These three coins were selected for analysis based on their performance in early 2024.
Arbitrum (ARB) price may increase by 20-45% in the next month.
The ARB/BTC chart shows a significant bearish trend, with the price action consistently below the daily Ichimoku Cloud and 100D EMA. Current consolidation near support levels suggests a critical period.
This chart reflects the BTC pair, highlighting key resistance levels marked by the daily Ichimoku Cloud and 100D EMA.
ARB/BTC: A break above the 0.00002178 BTC level (100D EMA) indicates a strong trend reversal, which could create bullish momentum.
ARB/USDT: Breach of $1.265 and then, $1.667 levels confirms a bullish trend, misleading many traders.
Read More: Arbitrum (ARB) Price Forecast 2024/2025/2035
Why Arby May Outperform BTC in June
Shifting Market Sentiment: Overcoming key resistance levels will change market sentiment from bearish to bullish, attracting more investors.
Ecosystem Expansion: Arbitrum's continued growth and increased adoption will greatly increase demand for ARB, resulting in superior performance against Bitcoin.
Injection (INJ) could see a 20-45% increase in Bitcoin in June.
The INJ/BTC chart shows an extended downtrend with repeated failures above the daily Ichimoku Cloud and 100D EMA. The price is currently testing the support level, which indicates the possibility of a breakout.
This chart shows consolidation with different resistance levels. A price action below the daily Ichimoku Cloud and 100D EMA suggests a critical point for an upward move.
INJ/BTC: A break above the 0.0005380 BTC level indicates a trend reversal and high momentum.
INJ/USDT: A break above $29.40 and then $36.36 levels indicates a strong bullish trend.
Why INJ outperformed BTC in June
DeFi offerings of the injectable protocol are unique, potentially attracting significant demand and investment, especially as the DeFi sector expands.
INJ's higher bitcoin volatility offers higher returns during BTC bullish movements.
ORDI investors 10-30% profit on positive breakout
The ORDI/BTC chart shows a consolidating trend below the daily Ichimoku Cloud and 100D EMA. The price is near a support level, indicating the possibility of a breakout.
This chart shows consolidation with specific key resistance levels. Price action below the daily Ichimoku Cloud and 100D EMA indicates a bullish breakout.
ORDI/BTC: A break above the 0.000829 BTC level indicates a trend reversal and bullish momentum.
ORDI/USDT: Crossing the $51.94 level and then the $67.30 level confirms a strong bullish trend.
Why did ORDI outperform BTC in June?
As a cryptocurrency project that uses Bitcoin's blockchain, Ordinals (ORDI) could gain momentum if it adds Bitcoin, lifting the entire Bitcoin ecosystem.
Read more: 10 Best Altcoin Exchanges in 2024
Due to the higher volatility than Bitcoin, ORDI can offer higher returns during bullish market phases.
General market dynamics
Altcoins such as ARB, INJ, and ORDI exhibit higher volatility and may offer greater potential returns than Bitcoin during bullish market conditions, especially if Bitcoin returns to all-time highs.
Conflicts that occur above significant levels of resistance are psychologically arousing. They signal a shift from bearish to bullish sentiment, encouraging more buying activity.
Uptrends in the Bitcoin market often drive altcoin prices higher. However, the development of unique price propositions and ecosystems such as ARB, INJ, and ORDI may result in more significant price movements as Bitcoin consolidates at higher levels.
Disclaimer
In accordance with 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 with a professional before making any financial decisions. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
