These 3 Bullish Altcoins are Predicted to Outperform Bitcoin in June 2024

Posted by – Bitcoin currently holds more than 50% market dominance in the crypto sector. This crypto king is generally considered less volatile when compared to other crypto assets.

Bitcoin at US$68,000 Nearly Touches ATH; Some Altcoins Still Undervalued
After recording a correction to US$56,000 in early May, Bitcoin managed to close the month positively and is now trading at US$68,000. The location is close to the ATH record. Even so, several altcoins have not experienced a similar recovery. This is because of the depth of the correction they suffered when Bitcoin collapsed to US$56,000.

Analysts detect that some altcoins are still classified as “undervalued“ when compared to Bitcoin. This line of altcoins is observed to have not experienced a sustained breakout above the key resistance level. These three altcoins were selected for analysis based on their past performance in early 2024.

Potential for Arbitrum (ARB) to Record a 20-45% Rally in June
The ARB/BTC chart shows a sharp downtrend. Its price action has consistently hovered below the daily Ichimoku Cloud as well as the 100-day EMA. The current consolidation phase near the support level indicates a critical point.

This chart reflects the pair with BTC, highlighting a consolidation phase below key resistance levels marked by the daily Ichimoku Cloud and the 100-day EMA.

Reasons why ARB has the potential to overtake BTC’s performance in June
Shift in Market Sentiment: Successfully conquering a major resistance level will immediately change market sentiment from bearish to bullish. This condition will attract more investors as well.

Ecosystem Expansion: Arbitrum’s ongoing development and adoption surge could massively boost ARB demand levels. This will boil down to its performance being able to outperform Bitcoin.

Injective (INJ) Chances to Rise 20-45% in June, Fueled by Bitcoin Surge
INJ/BTC chart reveals a prolonged downtrend. INJ price has repeatedly failed in attempts to break through the daily Ichimoku Cloud as well as the 100-day EMA. Meanwhile, the price is currently testing this support level, giving off the potential for a breakout.

Additionally, this chart shows consolidation with identified resistance levels. The price action below the daily Ichimoku Cloud and the 100-day EMA indicates a crucial point for potential upward price movement.

INJ/BTC: Successfully surpassing the 0.0005380 BTC level would indicate a trend reversal and bullish momentum.

INJ/USDT: A breakout above the US$29.40 level and then US$36.36 would be a sign of a strong bullish trend.

Reasons why INJ was able to outperform BTC in June

Injective Protocol’s DeFi offering is unique, so it has the potential to generate a torrent of interest and investment. This is especially as the DeFi sector continues to grow.

The higher volatility of INJ than Bitcoin presents the potential for greater profits during BTC’s bullish movement.

ORDI Investors Aim for 10-30% Profit during Positive Breakout
The ORDI/BTC chart depicts a downtrend with consolidation below the daily Ichimoku Cloud and 100-day EMA. Currently, the price is hovering near a support level, indicating a potential breakout.

Also, this chart shows consolidation with key resistance levels identified. The price action below the daily Ichimoku Cloud and 100-day EMA indicates a potential rokokbet bullish breakout.

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