Currently, most cryptocurrencies are in the process of recovering from their recent downturn. Amidst challenging conditions, we can see that only a few cryptocurrencies are performing well. Here is a list of the top 3 cryptos to look out for in June 2022.
Cardano (ADA)
Cardano saw an increase of 25% over the past few days, and it has now increased to a market cap of 19.6 billion dollars. In addition, Cardano flipped both BUSD and Solana to become the 6th biggest cryptocurrency in today’s rankings. In the next few weeks, Cardano is scheduled to undergo a software upgrade which is called hardfork. With this upgrade, the network should be better equipped to scale and give developers a program that isn’t too difficult.
In a 1D timeframe, the price action of $ADA/USDT has formed a bear flag chart pattern, where the price is moving inside the flag. Therefore, we have to wait for a successful breakout.
Fantom (FTM)
Fantom is a layer one blockchain that can provide alternatives to other platforms’ high costs and low speeds. Boba Network has recently expanded to Fantom, providing a fast and scalable solution for Ethereum’s Layer 2. Fantom is an investment with both potential reward and risk.
In a 1D timeframe, the price action of $FTM/USDT has formed a symmetrical triangle chart pattern. The price is moving inside the symmetrical triangle. However, we have to wait for a successful breakout or breakdown.
Polygon (MATIC)
The crypto market has been downward lately, with the Polygon MATIC leading the charge. The launch of Tether USDT might finally be the thing to turn it around. The Tether USDT stablecoin will stabilize cryptocurrencies trading on Polygon MATIC, which would most affect its price. MATIC tokens are a good investment for people who are only holding for a short time period.
In a 1w timeframe, the price action of $MATIC/USDT has formed a descending channel chart pattern where the price is smoothly consolidating inside the channel. However, we must wait for a breakout to confirm its next direction.
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Closing Thoughts
Discipline and Patience are the most important components of a successful trade. According to the above analysis, the coins we just discussed about might make you decent gains if other market conditions prevail favorably. Again, it’s your hard-earned money that you’ll be using. Do Your Own Research before investing.
Disclaimer: Our analysis is for educational purposes.
