In June, the cryptocurrency market experienced substantial upheaval, yet several digital currencies reached unprecedented levels. Market conditions were challenging, causing significant setbacks for many. As July approaches, we explore three cryptocurrencies that could potentially achieve all-time highs before the month’s end.
How is BNB Performing?
BNB was one of the first five altcoins to surpass its previous all-time high. However, since hitting $720.67 on June 6, it has declined by 21.11%. According to the BNB/USD daily chart, the Relative Strength Index (RSI), which gauges momentum, has also trended downward but is moving toward the oversold region. Additionally, the Accumulation/Distribution (A/D) indicator suggests that distribution isn’t intense. Therefore, if BNB enters an overselling phase, its price could recover. Increased buying pressure might propel the asset’s value by 29.90%, potentially reaching $740.70 in July.
What is Causing KAS to Surge?
KAS, the native cryptocurrency of the Kaspa Network, a PoW-based project, is currently trading at $0.17, just 9.61% below its all-time high of $0.19. The token has risen by 6.75% in the last 24 hours, with trading volume increasing by 172.65%. The 4-hour chart shows bulls defending the $0.14 and $0.15 support levels, breaking the $0.16 resistance on June 13. This indicates a potential recovery, and KAS’s value could reach $0.20 in July.
User-Usable Inferences
– BNB’s price recovery is possible if it enters an oversold condition.
– KAS shows strong market interest with significant trading volume increases.
– BRETT’s price may test its all-time highs if support holds at $0.13.
The final cryptocurrency, BRETT, developed on the Coinbase Layer-2 network Base, showed a parabolic rise from $0.033 to $0.19 between May 9 and June 9. This pattern indicates a peak, with BRETT now trading at $0.15 and a potential price reversal expected. Despite this decline, the RSI remains above the 50.00 midpoint, suggesting that bulls are keen to maintain the $0.13 support level. If sustained, BRETT might test highs between $0.20 and $0.21 in the near future.
In conclusion, while the crypto market faces turbulence, BNB, KAS, and BRETT show potential for reaching new peaks due to their respective market dynamics and technical indicators.