Bitcoin tested the solidity of the support level at $66,800 and is recovering after hack FUD. We can’t say that May was excellent for altcoins. Generally, there were no significant gains except for ETH, and some experienced major drops. So, what are the predictions for June?
Cardano (ADA) June Prediction
One of the largest altcoins by market cap and even the largest PoS altcoin before ETH transitioned to PoS. However, there is a lethargy due to years of not fully delivering what was expected. The price of $0.44 experienced a double-digit drop after peaking at $0.50 on May 21. The Awesome Oscillator (AO) confirms a shift in market momentum against ADA Coin bulls at the time of writing. This signal has been flashing for 60 days and is not very positive for June.
In a scenario where selling pressure continues to increase, we could see new tests in the $0.4 and $0.38 range. ETH is expected to have exchange listings in June. Meanwhile, everyone is expecting a sell-the-news event.
Moreover, concerns like the risk of surprising inflation data might make investors cautious. This suggests that the overall environment might not be very supportive for ADA Coin.
Bitcoin Cash (BCH) June Price Prediction
Bitcoin Cash (BCH) lost 10% of its value in the last 10 days. The movement of MTGOX assets is not good for BCH either. There is an unaccounted-for selling potential from BTCs that were directly converted to BCH. Therefore, news about MTGOX could act as a trigger for selling here as well, especially since distributions are expected to start before the end of the year. This means the peak story for BCH in 2024 might have taken a serious hit.
On the other hand, the Chaikin Money Flow (CMF) indicator confirms the capital outflow from the not-so-successful BTC fork. The altcoin’s CMF has been positioned below the zero line since May 23. The SAR indicator also confirms the ongoing risk of decline and decreasing appetite here.
In a possible scenario for the BCH price, the potential for a continued drop below $459 is noteworthy. Of course, crypto is full of surprises, and the person writing these lines cannot predict the future.
