Currently, most cryptocurrencies are in the process of recovering from their recent recession. In difficult conditions, we can see that only a few cryptocurrencies are doing well. Here is a list of the top 3 cryptocurrencies to keep an eye on in June 2022.
Table of Contents:
Cardan (ADA)
Cardano has seen a 25% increase in recent days, and has now increased to a market cap of $19.6 billion. In addition, Cardano turned both BUSD and Solana upside down to become the 6th largest cryptocurrency in today’s rankings.
In the coming weeks, Cardano is scheduled to undergo a software update called hardfork. With this update, the network should be better equipped to scale and offer developers a program that is not too difficult.
Over a 1D time frame, the price action of $ADA/USDT has formed a bearish flag chart pattern, in which the price moves within the flag. Therefore, we have to wait for a successful breakout.
Fantom (FTM)
Fantom is a tier one blockchain that can provide alternatives to the high cost and low speeds of other platforms. Boba Network recently expanded to Fantom, providing a fast and scalable solution for Ethereum Layer 2. Fantom is an investment with potential return and risk.
Over a 1D time frame, the price action of $FTM/USDT formed a symmetrical triangular chart pattern. The price moves within the symmetrical triangle. However, we have to wait for a successful breakout or failure.
Polygon (MATIC)
The cryptocurrency market has been on the downside recently, with the Polygon MATIC leading the charge. The launch of Tether USDT could finally be the thing to turn the situation around. The UsdT Tether stablecoin will stabilize cryptocurrency trading on Polygon MATIC, which would affect its price more. MATIC tokens are a good investment for people who only hold for a short period of time.
In a 1w time frame, the price action of $MATIC/USDT has formed a descending channel chart pattern where the price is consolidating smoothly within the channel. However, we have to wait for a breakout to confirm its next direction.
conclusion
Discipline and patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed could make you earn decently if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do your research before investing.
