Which top crypto to consider in June and July 2024?

We assess the potential, expectations, and likelihood of major blue-chip cryptocurrencies outperforming during the summer of 2024. Interestingly, the cryptocurrency with the highest chance of seeing an uptick could be the one which is the least expected.

RELATED – Which Top Crypto Will Outperform This Summer?

June 13, 2024: a critical date for Bitcoin

June 13, 2024 marks an important decision point for Bitcoin. BTC must exceed $69,000 by this date to maintain bullish momentum. Failure to exceed this level will likely cause BTC to struggle, thereby dampening overall market momentum.

Bitcoin (BTC)

BTC is trading near its all-time high (ATH), a sign of strength and resistance. A breakout above its ATH could attract significant investor interest.

Market sentiment remains cautiously optimistic, driven by institutional interest.

If BTC manages to breach the $69,000 level by June 13, it has a reasonable probability of outperforming over the next eight weeks. Chart courtesy: BTC Predictive Search.

Ethereum (ETH)

ETH is trading around 25% below its ATH, with a promising chart pattern. Key support levels remain firm and resistance levels are within reach.

The AI ​​price analysis, explained in the Ethereum forecast overview, predicts a support level at $2,185.59 and resistance up to $4,573.96.

ETH has a solid chance of outperforming, especially if it breaks through technical resistance levels and the overall market remains bullish.

Solana (SOL)

SOL is trading approximately 40% below its ATH, reflecting significant upside potential.

Its chart patterns indicate a steady climb towards key resistance levels, with recent ecosystem developments adding momentum.

AI price analysis expects SOL to reach a low of $105.68 and a high of $198.6 in 2024, as explained on this page, which highlights SOL forecasts.

SOL could outperform this summer, especially with continued technological and ecosystem growth. However, the likelihood of facing resistance at the old ATH is a very likely outcome, as explained in InvestingHaven Releases New Solana (SOL) Targets for the Next 18 Months.

XRP

As noted in An Unexpected and Wild XRP Price Target for July 2024, XRP is significantly below its ATH by around 80%, presenting a unique opportunity.

It showed a strong bullish reversal trend, indicating a potential significant price rise. Regulatory developments could act as catalysts for price appreciation.

Key chart indicators support a bullish outlook and investor sentiment is improving.

Only if XRP manages to clear $0.66 will it have the highest likelihood of outperforming this summer due to its steep discount to the ATH, strong reversal trend, and potential regulatory catalysts. Chart: XRP forecast.

Conclusion

Each top cryptocurrency (BTC, ETH, SOL, and XRP) has unique factors that could determine their performance over the next eight weeks. BTC needs to surpass the $69,000 level by June 13 to maintain its momentum. ETH and SOL are positioned for potential gains with strong chart setups. XRP stands out for its strong reversal trend and potential regulatory catalysts. The current dollar weakness provides a favorable backdrop for the potential outperformance of these cryptocurrencies ahead of the September period of seasonal weakness. If the bullish momentum picks up, there could be a 3-4 week rally with XRP being the wild card due to low expectations and seller exhaustion.