Bitcoin currently holds over 50% of the market dominance in the cryptocurrency sector and is generally considered less volatile than other cryptocurrencies.
Let’s explore which altcoins might perform well in June if Bitcoin surges 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 positively and is currently trading at $68,000, approaching its all-time high. Some altcoins have not experienced a similar recovery due to the deep correction they underwent during Bitcoin’s dip to $56,000.
Analysts have noted that some altcoins are still considered undervalued compared to Bitcoin and have not yet experienced a sustained breakout above key resistance levels. These three coins were selected for analysis based on their past performance in early 2024.
Arbitrum (ARB) May Increase 20-45% in Value Next Month
The ARB/BTC chart showcases a significant downtrend, with the price action consistently below the daily Ichimoku Cloud and 100D EMA. The current consolidation near support levels suggests a critical juncture.
This chart mirrors the BTC pair, highlighting a consolidation phase beneath key resistance levels marked by the daily Ichimoku Cloud and 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: Breaching the $1.265 and, subsequently, the $1.667 levels would confirm a bullish trend, enticing more traders.
Read More: Arbitrum (ARB) Price Prediction 2024/2025/2035
Why ARB Might Outperform BTC in June
Market Sentiment Shift: Overcoming key resistance levels would transform market sentiment from bearish to bullish, drawing in more investors.
Ecosystem Expansion: Arbitrum’s ongoing development and increasing adoption could significantly boost ARB demand, leading to superior performance against Bitcoin.
Injective (INJ) Could See 20-45% Surge in June With Rising Bitcoin
The INJ/BTC chart reveals a prolonged downtrend, with repeated failures to surpass the daily Ichimoku Cloud and 100D EMA. The price currently tests 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 suggests a critical point for potential upward movement.
INJ/USDT vs INJ/BTC (1D). Source: TradingView
INJ/BTC: Surpassing the 0.0005380 BTC level would indicate a trend reversal and bullish momentum.
INJ/USDT: Breaking above the $29.40 and then the $36.36 levels would signal a robust 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 presents greater potential returns during BTC’s bullish moves.
ORDI Investors Eye 10-30% Gains on Positive Breakout
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 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/USDT vs ORDI/BTC (1D). Source: TradingView
ORDI/BTC: A breakout above the 0.000829 BTC level would signal a trend reversal and bullish momentum.
ORDI/USDT: Surpassing the $51.94 level and then the $67.30 level would confirm a strong bullish trend.
Why ORDI Could Outperform BTC in June
As a cryptocurrency project utilizing Bitcoin’s blockchain, Ordinals (ORDI) can gain significant momentum if Bitcoin rises, lifting 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 like ARB, INJ, and ORDI exhibit higher 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.
Bitcoin’s market upward trends often lift altcoin prices. However, unique value propositions and ecosystem growth of altcoins like ARB, INJ, and ORDI can result in even more significant price movements once Bitcoin consolidates at higher levels.
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