We are almost halfway through June 2024, and 45.36% (166 days) of this fast-paced year has passed. The first quarter was favorable for cryptocurrency investors. Bitcoin achieved steady gains in the early months, reaching up to $73,777. However, the halt in the decline of inflation has made things difficult since April. Despite good recent data, the Fed remains unconvinced about the decline.
Altcoins of June
Several cryptocurrencies have made a mark this month. The first is Oasis (ROSE), which reached $0.12 in June for the first time since April 8. The altcoin, holding above the 20-day EMA, remains strong despite BTC’s weakness. The Aroon Up Line indicator for ROSE is at 85.17%, suggesting the continuation of the uptrend.
If the increase continues, we might see new peaks beyond $0.13. As of writing, BTC is hovering at $67,000, and the concern over yesterday’s sub-$66,000 closures has temporarily subsided.
TON, FLOKI, and W Coin
Telegram integration has allowed TON Coin to quickly outpace its competitors and reach a massive user base. Its strategy is quite successful, as seen in NOT Coin’s chart and on-chain data. In the past 7 days, TON Coin has increased by 5%, with its trading volume surpassing half a billion dollars, reaching the May 16 peak.
The DMI indicator confirms the rise for TON Coin. The Elder-Ray Index reflects buyer appetite, sending promising signals for continued price increases. TON Coin, which has made a name for itself in June, could rise above $8.05.
Floki (FLOKI) Coin has been the most losing cryptocurrency since last week. It dropped by 32%, triggered by panic sales from investors who were waiting for profitable new peaks. This is not surprising as investors had been holding strong for a long time. On June 12, there was a net outflow of $53 million, and if the weakness continues, we might see $0.0002 before the end of the month.
Lastly, Wormhole (W) has slipped below the 20-day EMA and 50-day SMA. Such patterns can occur during heavy sell-offs. If the downtrend continues, the $0.46 region could be tested. The altcoin, which has fallen by 30% in 7 days, is hovering at $0.48. However, if investors consider this as the bottom, a return to $0.51 is also possible.
