Over the past seven days, the cryptocurrency market has not been pleased – most altcoins have fallen in price. However, in the second half of June, external factors can help restore their cost.
Let us analyze the three altcoin – Immutable (IMX), Reserve Protocol (RSR) and Thorchain (Rune) – and find out what to expect from them this week.
Immutable (IMX)
This week, Immutable X staying will go to Immutable ZKEVM, which will be an important step for the network and its users. This event can give a bull impulse platform and influence the price of IMX token in the coming days.
IMX lost 8.7% per week, and now its price is $ 0.47. Altcoin is trying to stay at $ 0.46. If this succeeds, IMX can reach the next resistance by $ 0.49 and, possibly, grow to $ 0.53.
The parabolic SAR is now above the candles, which indicates a bear trend. If this continues, the price of IMX may fall. The fall below $ 0.44 will be a signal of weakness, which will cancel the bull forecast and increase the risk of losses for investors.
Reserve Protocol (RSR)
RSR is prepared for the second burning of tokens on June 20, after the successful destruction of 1.28 million RSR on May 21. This event can significantly affect the price of altcoin, causing new interest in investors and price movement.
The latest burning of the RSR led to an increase in price by 13.7%. A similar short -term growth can occur after the upcoming burning, especially if the MACD indicator shows a bull intersection. If the pulse is preserved, the RSR can reach $ 0.0073, and the next resistance level will be $ 0.0081, which will attract additional attention of investors.
However, if the overall mood in the market becomes bearish, RSR risks facing difficulties in holding support levels. A breakdown below $ 0.0064 or $ 0.0059 will indicate significant weakness and cancel the bull forecast. In this case, altcoin can continue to fall.
Thorchain (Rune)
The price of Rune has decreased by 5% in the last week, bargaining at $ 1.54 – just below the resistance of $ 1.57. This happened on the eve of the V3.0 renewal for ThorChain, planned at the end of the week. It is expected that the update will bring significant improvements to the network and affect the price of Rune.
Update V3.7.0 on the network Thorchain can raise the price of Rune. Ishimoku cloud also indicates the possible increase in altcoin. If Rune manages to gain a foothold above $ 1.57, this can push the price to $ 1.67 and attract new investments.
However, if the market becomes bearish, Rune may fall. The fall below $ 1.50 may indicate further weakness, and $ 1.39 will become the next level of support. His breakdown will cancel the bull forecast and can lead to losses for investors.
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Source: Cryptocurrency
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