Despite the latest step taken by the US to avoid a government debt default, the altcoin market continues to decline. Investors are now watching the developments of June for the next opportunities.
Which altcoins to watch closely this month
The U.S. House of Representatives vote to suspend the national debt ceiling went from 314 to 117, with bipartisan support. After its legislative journey, the bill will go to the Senate for approval. If it comes into effect by June 5, it would allow the U.S. Treasury to issue new loans, preventing a possible default on its financial obligations.
Financial analysts predict that this move could lead the Fed to consider raising interest rates at its June meeting. As a result, uncertainty hangs in the air. So, what are the best altcoins to buy under these volatile macroeconomic conditions?
Amid this economic turbulence, altcoins such as WSM, IOTA, ECOTERRA, LTC, YPRED, XLM and DLANCE are emerging as notable considerations for buying, according to analyst Trent Rhode.
Wall Street Memes (WSM)
The Wall Street Memes (WSM) token presale, in particular, has resonated with the Reddit community Wall Street Bets and a leading NFT project, and is currently gaining considerable attention. The project, with a rapidly growing digital audience of more than one million on various platforms, attracted the attention of important names such as Elon Musk. In less than a week, the WSM pre-sale has seen raising over $2.4 million.
Wall Street Memes are no strangers to the crypto market spotlight. The Wall Street Bulls NFT collection previously sold out in just 32 minutes, making an impressive $2.5 million. This interest in WSM offers a glimpse into the project’s aim to change the current power dynamics in the altcoin market.
Analysts speculate that the prominent Wall Street Bets community could influence WSM’s listing on top crypto exchanges. A generous 30% of the total token supply is reserved for community rewards, with an existing contest offering a $50,000 WSM airdrop to five lucky members.
IOTA (MIOTA)
After reaching its monthly high of $0.2266 on May 30, IOTA dropped as low as $0.2002. It later reached its local top of $0.2072. IOTA is currently trading slightly higher at $0.2044.
According to the analysis, the price may consolidate at these levels before attempting to resume its bullish momentum. The 20-day EMA is at $0.1939 while the 50-day EMA is at $0.1968. These two EMAs act as support for IOTA, providing a buffer in case the price drops in the short term.
However, the 100-day EMA sits at $0.2045, acting as a resistance level that IOTA must overcome to continue its bullish trajectory. If IOTA can break the resistance levels while maintaining positive technical indicators, the bulls will have another chance for higher highs.
ECOTERRA
Currently in its seventh phase, the Ecoterra pre-sale has already raised $4.6 million. Thus, it approached its target of 4,775 million dollars. Ecoterra’s unique appeal revolves around the Recycle to Win (R2E) system, which offers a new perspective on sustainable recycling.
The ECOTERRA is on sale for $0.0085. It is expected to hit $0.00925 once the pre-sale target is reached. With the token price that will increase, early pre-sale participants will have the opportunity to generate significant returns powered by future staking protocols to generate revenue.
Litecoin (LTC)
Litecoin is slightly bullish today despite the overall crypto market downturn. Investors are watching the 90.20 critical support closely. This level will push the bulls towards the $97 resistance in the coming days. Meanwhile, LTC’s price increase is likely linked to the halving on August 2. Many analysts previously said that this news could attract new buyers.
According to the on-chain analytics platform Santiment, the Litecoin network has recently experienced a significant increase in volume, particularly whale transactions. In fact, the trading volume on the Litecoin network has reached its highest level in two years. This indicates a significant increase in market activity. Also, whale activity on the network has reached its highest level since January, reflecting the growing interest in this cryptocurrency.
Despite the Litecoin price’s struggle to break above $100 for over two years, recent developments suggest that a bullish boom may be on the horizon. The formation of a symmetrical triangle, often referred to as the pennant, since February indicates a potential uptrend. This optimistic outlook is further supported by the upcoming third halving, which is known to trigger bullish volatility.
YPRED
AI-powered crypto platform yPredict is approaching the impressive $2 million benchmark in its fundraising efforts. Thus, it attracts international attention. The platform’s advanced AI capabilities offer refined insights to retail traders with the potential to enhance their portfolios.
YPredict’s token, YPRED, raised $1.97 million in pre-sale. This impressive performance places yPredict among the key crypto pre-sales of 2023. Meanwhile, Jacob Bury, a crypto analyst, shared his 10x growth forecast for YPRED. You can find more details about the project in the tweet below.
Stellar (XLM)
XLM price found support near $0.0856-0.0866 before surging higher last week. Stellar surged past the resistance at $0.0882, along with the 20- and 50-day MAs, to $0.0889.
XLM is currently trading at $0.092488. A drop to the downside support levels at $0.0892 to $0.0896 will present buyers with new opportunities.
ETH, AVAX, ADA, ATOM and MATIC deals
It is among the altcoins to watch in June on Ethereum. Its price has gained 58.8% since the beginning of the year.
On the other hand, AVAX, which fell 90% in the bear market of 2022, could emerge as a longer-term winner. Avalanche also had a good start to the year, with AVAX up 32.6% through May 30.
Like almost all other tokens, the price of MATIC dropped in 2022. As a result, it lost 70% of its value during the year. Like other cryptocurrencies on the list, MATIC has benefited from the 2023 crypto bull market. According to the data, it progressed by 18.9% until May 30th.
Additionally, Cardano is among the biggest losers with 81% in 2022. But in recent months it has reclaimed some of those losses. It recorded a 53.3% gain from year-to-date through May 30. Finally, ATOM lost 71% in the 2022 bear market. However, it has made an important comeback in recent weeks. It is now up more than 70% from its lows in June 2022. In 2023, it reached 16% by May 30.
Requires close monitoring on Bitcoin
There is no guarantee that Bitcoin will rise in June. However, the May drop made Bitcoin gasp. So it means you can start a position or add to an existing one. In the long run, the adoption curve could quickly steepen before 2023 hits the rearview mirror. As a result, they may have missed a historic opportunity not to buy Bitcoin this summer.
cryptocoin.com In this article, we have compiled the Bitcoin price predictions that technical analysts have recently included. At the time of writing, here is the performance of the biggest cryptocurrencies in the last 24 hours:
- Bitcoin (BTC) – 27,221.34 (0.05%)
- Ethereum (ETH) – 1,904.49 (0.03%)
- BNB (BNB) – 307.29 (0.03%)
- XRP (XRP) – 0.5251 (0.09%)
- Cardano (ADA) – 0.381 (0.09%)
- Dogecoin (DOGE) – 0.07298 (0.01%)
- Solana (LEFT) – 21.61 (0.23%)
- Polygon (MATIC) – 0.9046 (0.01%)
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.