Bitcoin currently holds over 50% of the market power in the cryptocurrency sector and is generally considered to be less volatile than other cryptocurrencies.
Let’s take a look at which altcoins could perform well in June if Bitcoin surges to an all-time high of $73,000.
Bitcoin is close to $68,000 ATH, but some altcoins are still undervalued
Bitcoin is ending the month on a positive note after experiencing a correction to $56,000 in early May and is currently trading at $68,000, approaching its all-time high. Some altcoins failed to experience a similar recovery due to the severe correction Bitcoin suffered during its decline 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 past performance in early 2024.
Arbitrum (ARB) could increase 20-45% in value next month
The ARB/BTC chart shows a significant downtrend, with the price consistently falling below the daily Ichimoku Cloud and 100D EMAs. Consolidation near the current support level suggests an important moment.
This chart reflects the BTC pair, highlighting the consolidation phase below key resistance levels marked by the daily Ichimoku Cloud and the 100D EMA.
ARB/BTC: A break above the 0.00002178 BTC level (100D EMA) would signal a strong trend reversal and could potentially trigger bullish momentum.
ARB/USDT: A break above $1.265 and then the $1.667 level would confirm a bullish trend and attract more traders.
Read More: Arbitrum (ARB) Price Prediction 2024/2025/2035
Why ARB Could Outperform BTC in June
market sentiment changes: Overcoming key resistance levels could shift market sentiment from bearish to bullish, attracting more investors.
Ecosystem expansion: Arbitrum’s continued development and increased adoption could significantly increase ARB demand, resulting in superior performance compared to Bitcoin.
Injective (INJ) could surge 20-45% in June as Bitcoin rises.
The INJ/BTC chart shows a long-term downtrend, with repeated failures above the daily Ichimoku Cloud and 100D EMA. The current price tests the support level, indicating a possible breakout.
This chart shows consolidation along identified resistance levels. The daily Ichimoku Cloud and price action below the 100D EMA point out important points for a potential upward move.
INJ/BTC: Breaking above the 0.0005380 BTC level signals a trend reversal and bullish momentum.
INJ/USDT: A break above $29.40 and then $36.36 could indicate a strong bullish trend.
Why INJ Could Outperform BTC in June
Injective Protocol’s DeFi products are unique and potentially attract 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 Positive Breakout for 10-30% Gains
The ORDI/BTC chart shows a downward trend consolidating below the daily Ichimoku Cloud and 100D EMA. The price is close to the support level, suggesting a possible breakout.
This chart shows consolidation where key resistance levels have been identified. Price movement below the daily Ichimoku Cloud and 100D EMA indicates a potential bullish breakout.
Ordi/BTC: A break above the 0.000829 BTC level could signal a trend reversal and bullish momentum.
Run/USDT: A break above $51.94 and $67.30 will confirm a strong bullish trend.
Why ORDI Could Surpass BTC in June
Ordinals (ORDI), a cryptocurrency project utilizing Bitcoin’s blockchain, can gain significant momentum when Bitcoin rises, boosting the entire Bitcoin ecosystem.
Read more: 10 Best Altcoin Exchanges in 2024
Because it is more volatile than Bitcoin, ORDI may offer greater potential returns during bull market phases.
General market dynamics
Altcoins such as ARB, INJ, and ORDI exhibit higher volatility than Bitcoin during bull market conditions and may offer greater potential returns. Especially if Bitcoin recovers to its all-time highs.
A break above a significant resistance level is a psychological trigger. This indicates a reversal from a bearish trend to an uptrend, encouraging more buying activity.
Bitcoin market upward trends often push altcoin prices higher. However, the unique value proposition and ecosystem growth of altcoins such as ARB, INJ, and ORDI could result in much more significant price movements if Bitcoin consolidates at higher levels.
disclaimer
In accordance with Trust Project guidelines, this price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decisions. Our Terms of Use, Privacy Policy and Disclaimer have been updated.