Top 5 Altcoins to Watch in the Crypto Market in June 2023

As we enter June 2023, the crypto market is abuzz with exciting developments in the altcoin space. Here are the top 5 altcoins that have promising events lined up this month, making them worth keeping an eye on.

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1. Optimism (OP) – Mainnet Network Upgrade

Optimism (OP) is set to undergo a highly anticipated Mainnet network upgrade on June 6, 2023. This hard fork is expected to last between 2 to 4 hours, bringing potential improvements and advancements to the network. Despite a recent dip in price from its yearly high, OP shows signs of a bullish reversal. With a bullish divergence on the RSI and a double bottom pattern forming, there is a high probability of a bounce towards the $1.85 region. However, if the price fails to reclaim this level, a decline to the next support at $1.40 could occur.

2. Vega Protocol (VEGA) – Reduced Inflation Phase

Vega Protocol (VEGA) is entering a significant phase in June, marked by a reduction in staking rewards and inflation. This move aims to promote sustainable growth and stability within the ecosystem. Currently finding support around $1.55, VEGA has the potential to rally towards $2.40 if the level holds. Conversely, a breakdown might lead to a drop to $1.10.

3. DSLA Protocol (DSLA) – Testnet Launch

DSLA Protocol (DSLA) has an exciting event scheduled for June: the launch of its Testnet on June 13. This development could spark positive momentum for DSLA, potentially leading to an upward movement. The price has already shown resilience by bouncing off the $0.0016 support level. If the bounce continues, DSLA could aim for the next resistance at $0.0028. However, a close below $0.0016 might result in a decline to $0.0007.

4. The Sandbox (SAND) – Massive Land Sale

The Sandbox (SAND) is set to conduct a highly anticipated land sale event called “Hallyu Rising” from June 8 to 12. The registration raffle will end on June 7, generating significant interest in the project. SAND has recently reclaimed the $0.52 support area after a double-bottom pattern and bullish divergence in the RSI. If the price breaks out above the current pattern, the next resistance level to watch is at $0.70. However, a rejection could lead to a drop below $0.52, potentially testing the $0.40 level.

5. WhiteBIT (WBT) – Bitfinex Listing

WhiteBIT (WBT) is making a substantial move on June 1 by getting listed on Bitfinex, one of the largest exchanges in the market. This development increases the exposure and accessibility of WBT, potentially driving further price growth. With gradual increases since February and the validation of the $4.40 support turned into support, WBT could target the next resistance at $7.50. However, if the price closes below $4.40, a decline to $3.20 becomes a possibility.

Conclusion

As June unfolds, these five altcoins present exciting opportunities for crypto enthusiasts and investors. With network upgrades, reduced inflation, testnet launches, land sales, and significant exchange listings, Optimism (OP), Vega Protocol (VEGA), DSLA Protocol (DSLA), The Sandbox (SAND), and WhiteBIT (WBT) are poised to capture attention and potentially deliver positive returns. Remember to conduct thorough research and consider your risk tolerance before making any investment decisions

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