Four cryptocurrencies that may reach all-time highs in June
Briefly
- these four altcoins are causing a lot of optimism in June because they all have the potential to reach new all-time highs.
- The price action and the absence of overhead resistance permit the price to accelerate higher in the future.
- There is a distinct “invalidation level” for each of these cryptocurrencies, which is the point at which their upward trend may be disrupted.
These four altcoins, which were ranked among the top cryptos in June despite the bearish cryptocurrency market in May, were able to maintain most of their gains and even post positive results.
June can possibly be a vital month for the altcoin market. Some altcoins may be able to recoup their previous losses and even reach new all-time highs if the market experiences a rebound at this time.
As a result, traders and investors have a great opportunity to capitalize on potential opportunities while keeping an eye on the market. Vipkhoone takes a gander at four cryptos that could hit new all-time highs in June:
Can TomoChain (TOMO) Sustain its Massive Increase?
The TOMO cost was dependent upon a monstrous increment last week, arriving at another yearly high of $2.55. However, it was impossible to maintain the upward trend.
Instead, a long upper wick was created by the TOMO price, which is thought to indicate selling pressure (red icon).
In addition, the wick led to a decline in the TOMO price below the $1.70 horizontal region, which is anticipated to serve as resistance. Even though the deviation above the area is a significant bearish sign, there is no further resistance until the all-time high, which is close to $3.60.
Thus, in the event that the TOMO cost clears the $1.70 region, it can increment quickly toward this area and conceivably arrive at another unsurpassed high.
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Injective (INJ) Cryptocurrency Price Aims for Continuation
Since the beginning of the year, the INJ price has gone up quickly. White indicates that the increase resembles a five-wave upward movement. If this is the case, INJ is in the fifth and final increase wave right now.
The Elliott Wave theory is used by technical analysts to determine the trend’s direction by identifying recurring long-term price patterns and investor psychology.
If the count is correct, the INJ price will finish its fifth wave near the $14 horizontal resistance area. Even though this is a great deal lower than its all-time high, it serves as the previous resistance.
Thus, the cost can move to another record-breaking high assuming it clears the $14 opposition.
However, this bullish INJ prediction will be invalidated if the price falls below the wave one high (red line) at $4.58. The count would be bearish in that scenario, and the price could fall to $3.
RocketPool (RPL) Cryptocurrency Price Clears Major Resistance
Since reaching its all-time high of $65.32 on April 16, the RPL price had fallen below a descending resistance line. On May 12, the decline resulted in a low of $43.44.
The price, on the other hand, rebounded right away, resulting in a bullish candlestick (the green icon). It moved above the descending resistance line the following day, indicating that the correction was finished.
While the price has fallen slightly since the breakout, it created a higher low on May 26. This is the first step in creating a bullish structure.
It is likely that the RPL price will reach a new all-time high if it clears the $54.30 0.5 Fib retracement resistance level.
However, if it is rejected, a decrease in the $44 support area is to be expected.
Rootstock Infrastructure Price (RIF) Clears Long-Term Resistance
Rootstock Infrastructure (RIF) rounded out the top cryptocurrencies in June. The RIF cost had fallen under a slipping opposition line since its $0.50 high in Jan 2021. In November 2022, the decline reached a new all-time low of $0.035 before the price reversed the trend and broke out in January.
The line had been in place for 740 days prior to the breakout. Significant bullish trend reversals frequently result from breakouts from such long-term structures.
This was the case with RIF, which hit a new all-time high in March 2023 of $0.22. However, a rejection of the 0.382 Fib retracement resistance level sparked a decline in the price since then.
However, the price continues to trade above the $0.10 horizontal support region. The trend can be considered bullish as long as it continues to do so.
If the RIF price breaks out above the $0.22 Fib resistance, it can then increase to the next resistance at $0.30. However, if the price closes below $0.10, a drop to $0.04 could ensue.
