The cryptocurrency market had a choppy May, with Bitcoin (BTC) failing to break through the $70,000 barrier and the majority of altcoins failing to exhibit the anticipated dynamics.
Nevertheless, things could change in June, and these three altcoins are well-positioned to not only regain their positions but also surpass BTC.
A breakout of a critical level is imminent for Arbitrum (ARB).
Price action on the ARB/BTC chart has been consistently below the 100D EMA and daily Ichimoku Cloud, indicating a significant downtrend. There is a critical moment indicated by the current consolidation at support levels.
Two-way ARB/USDT and ARB/BTC (1D). According to TradingView,
In the case of ARB/BTC, a possible upturn would be indicated by a breakout above 0.00002178 BTC (100D EMA).
The bullish trend will be confirmed and more traders will be drawn to the ARB/USDT pair if it breaks through the $1.265 and then $1.667 levels.
Reasons Why ARB May Beat BTC in June
The market’s mood can shift from bearish to bullish if important resistance levels are broken.
The expansion of the Arbitrum ecosystem has the potential to boost the demand for ARB to a level where it outperforms Bitcoin, provided that the platform is continuously developed and used more widely.
The injection (INJ) builds up its force
There have been multiple unsuccessful attempts to break through the daily Ichimoku cloud and 100D EMA on the INJ/BTC chart. There is a possibility of a breakout as the price is currently testing the support level.
Currency pairs INJ/USDT and INJ/BTC (1D). According to TradingView,
The INJ/BTC pairing: A reversal and the development of upward momentum will be indicated by a break of the level of 0.0005380 BTC.
A strong bullish trend is indicated by a break above the $29.40 and then $36.36 levels for INJ/USDT.
Arguments for INJ’s Potential June Outperformance Against BTC
As the decentralized finance industry grows, innovative solutions like Injective Protocol’s could entice a lot of investors. INJ offers more potential during BTC bullish moves due to its higher volatility compared to BTC.
If Bitcoin were to rise in value, ORDI could do well.
Below the daily Ichimoku cloud and 100D EMA, the ORDI/BTC chart shows a downtrend with consolidation. Similar to ARB and INJ, the altcoin’s price is close to a support level, which could indicate a possible breakout.
1D ORDI/USDT and 1D ORDI/BTC. According to TradingView,
For ORDI/BTC, a reversal and subsequent increase are indicated by a break above 0.000829 BTC.
Exiting the $51.94 and $67.30 resistance levels will establish a robust bullish trend in the ORDI/USDT pair.
Reasons ORDI May Beat Bitcoin in June
Being a part of the Bitcoin ecosystem, ORDI has the potential to experience substantial growth during the current Bitcoin rally.