5 altcoins Worth Your Attention in June
Investors have been recommending buying only Polkadot (DOT) and Cardano (ADA) for the past six months. However, we would like to expand this list with a few more potential assets that deserve your attention. Based on personal experience, we have compiled a list of five promising altcoins for a successful portfolio composition. These assets have the potential to significantly increase in price throughout this month. Topping our list is Optimism (OP) as the second-layer blockchain undergoes a mainnet upgrade. Vega Protocol (VEGA) has announced a reduction in staking rewards. DSLA Protocol (DSLA) is launching its testnet. The Sandbox (SAND) is planning a major land sale, and WhiteBIT (WTB) has already been listed on Bitfinex.
Optimism (OP) to undergo network upgrade
Price: $1.54
Market Capitalization: $516 million
The mainnet upgrade for OP is just days away, with the hard fork scheduled for June 6 and expected to take 2 to 4 hours.
According to our observations, we have noticed that the price of OP dropped on February 24th, reaching a level of $3.24. The decline broke through the horizontal support area at $1.85 and led to a local low of $1.48 on May 12th. Although the asset has not yet recovered the $1.85 area, the RSI has formed a bullish divergence (indicated by the green line on the chart), and a double bottom pattern has formed.
Since bullish divergences often lead to trend reversals, and a double bottom is considered a bullish pattern, the price of OP may reach $1.85 in the near future. If this does not occur, a decline towards the nearest support level at $1.40 can be expected.
Vega Protocol (VEGA) enters a new phase
Price: $1.57
Market Capitalization: $78 million
The decentralized protocol VEGA has announced its intention to reduce staking rewards, which will also lead to a decrease in inflation. The project team has provided detailed information about their plans in a personal blog. Currently, the price of VEGA is attempting to find support above the $1.55 level from which it previously rebounded. If successful, it could potentially rise to $2.40.
However, if VEGA breaks down, the token may experience a decline towards $1.
The Sandbox (SAND) plans a land sale
Price: $0.56
Market Capitalization: $1.03 billion
The Sandbox will hold a long-awaited land sale named “Hallyu Rising.” The event will last for four days, from June 8th to June 12th. The registration lottery will close on June 7th. According to our data, in early February, the price of SAND dropped below the descending resistance line and broke through the horizontal support area at $0.52. However, on May 28th, it recovered and returned to that level. The rebound was preceded by the formation of a double bottom pattern and a bullish divergence on the RSI.
If the price of SAND breaks above the current figure (marked by the black line on the chart), the next resistance will be at the $0.70 level. Otherwise, a decline towards the $0.40 mark is possible.
WhiteBIT (WBT) listed on Bitfinex
Price: $4.80
Market Capitalization: $296 million
The WBT/USDT pair is now available for trading on Bitfinex as of June 1st, with fund withdrawals set to begin shortly. This is an important step for the token as Bitfinex is one of the largest and most reputable exchanges where it is listed. The price of WBT has been gradually increasing since early February. According to our observations, on March 17th, the price broke above the $4.40 resistance area and subsequently confirmed it as support (indicated by the green triangle on the chart).
If the upward trend continues, the next resistance level will be around $7.50. However, if WBT closes below $4.40, its price may drop to $3.20.
DSLA Protocol (DSLA) launches testnet
Price: $0.01
Market Capitalization: $10 million
Completing our unique list of altcoins to watch in June is the DSLA Protocol. According to our observations, the price of the DSLA native token dropped from its yearly high of $0.0041 on April 7th, resulting in a low of $0.0015 on May 11th. However, following the decline, we can also note that the asset has recovered and confirmed horizontal support at the $0.0016 level.
Users will be able to test the DSLA testnet starting from June 13, which could positively impact the price of DSLA and support further rebound. In that case, the token could rise towards the next resistance level at $0.0028.
In conclusion, our unique list of altcoins for June includes several promising assets that deserve attention. Optimism (OP) is expected to undergo a network upgrade, and its price has the potential to reach $1.85, supported by a bullish divergence and a double bottom pattern. Vega Protocol (VEGA) aims to reduce staking rewards, and its price could rise to $2.40 if it finds support above $1.55. The Sandbox (SAND) is planning a significant land sale event, and its price has rebounded from previous support levels, indicating potential growth towards $0.70. WhiteBIT (WBT) being listed on Bitfinex is a significant development, and its price may continue its upward trend towards $7.50 if the current support level holds. DSLA Protocol (DSLA) has launched its testnet, and with confirmed support at $0.0016, it could rise towards the next resistance level at $0.0028. These altcoins present opportunities for investors to diversify their portfolios and potentially capitalize on price growth throughout the month.
DISCLAIMER
All the information mentioned in this article has been provided in good faith and for informational purposes only. The reader is solely responsible for making decisions and assumes full responsibility for any actions taken based on the information obtained from this article.
