The cryptocurrency market witnessed a decline in trading activities last month. At the time of writing, the global cryptocurrency market value was $2.41 trillion, down 11% in the last 30 days. As the end of June approaches, some altcoins have seen a resurgence in bullish trends. Maker (MKR), Injective (INJ), and Kaspa (KAS) are some of the altcoins that might outperform Bitcoin in July.
Maker Chart Analysis
MKR stands out as the governance token of the leading cryptocurrency lending platform MakerDAO, and the altcoin price has increased by almost 10% in the last seven days. This rise is due to the recent increase in buying pressure for the token. The Relative Strength Index (RSI) was at 56.12 at the time of writing, indicating an upward trend.
MKR’s RSI data shows that the buying pressure among market participants outweighs the selling activity. MKR’s Directional Movement Index (DMI) confirms the bullish position. At the time of writing, the token’s positive directional index (blue) is above the negative index (red). This bullish signal confirms that bull strength dominates the market. If MKR bulls remain in control, the token price could rise to $2612.
INJ Chart Analysis
INJ stands out as the governance token powering the Layer-1 network Injective, built for decentralized finance (DeFi) applications. The altcoin’s value has increased by 10% in the last seven days and is currently above the 20-day Exponential Moving Average (EMA).
Additionally, the points forming INJ’s SAR data are located below the price. This indicator measures an asset’s trend direction and identifies potential price reversal points. When the points are below an asset’s price, the market is said to be in an upward trend. This indicates that the asset’s price is rising and the bullish trend may continue. If INJ’s bullish trend continues, the token could trade at $24.37.
KAS Chart Analysis
KAS’s value has increased by over 20% in the last seven days. The price increase is due to the altcoin’s current bullish trend. To confirm this, the Awesome Oscillator data turned its green bars at the time of writing. This data measures an asset’s price trends and identifies reversal points. When it publishes green bars, it is a bullish signal indicating that there may be an upward movement or strength in the ongoing trend.
Additionally, the Elder-Ray Index also shows a value above zero at the time of writing. This indicator measures the relationship between the strength of buyers and sellers in the market. A positive value means bull strength dominates the market. If KAS maintains its bullish trend, its price could rise above $0.2.
