Cryptocurrency Heard for the Month: 16 June 2022

 

June Review

June this year has begun with cryptocurrencies in a bear market. The cryptocurrency industry as a whole is down $1 trillion since the start of 2022. With prices stabilizing after the May crypto crash it’s likely that June could be the best time to buy crypto for many months to come.

The prices of major cryptocurrencies like Bitcoin and Ethereum are at their lowest levels in over a year. Meanwhile, altcoins Cardano and BNB have strong growth potential.

Previous Crypto Portfolio Selection Performance

Solana (SOL)

Technical Analysis: BUY at or below $27.50

About Solana

Solana (SOL) is a cryptocurrency launched in 2020. Solana has a current supply of 511,616,946.142289 with 325,111,693.31357527 in circulation. The last known price of Solana is 111.54812138 USD and is up 2.19 over the last 24 hours. More information can be found at https://solana.com.

Solana price today is $27.30 USD with a 24-hour trading volume of $1,808,151,771 USD. Solana is down 7.40% in the last 24 hours. The current CoinMarketCap ranking is #9, with a live market cap of $9,342,059,527 USD. It has a circulating supply of 342,209,857 SOL coins and the max. supply is not available.

 Avalanche (AVAX)

Technical Analysis: BUY at or below $15.00

About Avalanche

Avalanche (AVAX) is a cryptocurrency launched in 2018. Avalanche has a current supply of 395,891,289.9134107 with 267,283,805.3648784 in circulation. The last known price of Avalanche is 93.76814754 USD and is up 3.40 over the last 24 hours. It is currently trading on 222 active market(s) with $1,736,550,754.69 traded over the last 24 hours. More information can be found at https://avax.network/.

Avalanche price today is $14.77 USD with a 24-hour trading volume of $659,269,505 USD. Avalanche is down 9.48% in the last 24 hours. The current CoinMarketCap ranking is #17, with a live market cap of $4,151,141,317 USD. It has a circulating supply of 280,992,325 AVAX coins and a max. supply of 720,000,000 AVAX coins.

VeChain (VET)

Technical Analysis: BUY at or below $0.023

About VeChain

VeChain (VET) is a cryptocurrency . VeChain has a current supply of 86,712,634,466 with 64,315,576,989 in circulation. The last known price of VeChain is 0.07426171 USD and is down -2.90 over the last 24 hours. It is currently trading on 176 active market(s) with $823,085,531.34 traded over the last 24 hours. More information can be found at https://www.vechain.org/

VeChain price today is $0.022315 USD with a 24-hour trading volume of $173,340,462 USD. VeChain is down 5.95% in the last 24 hours. The current CoinMarketCap ranking is #31, with a live market cap of $1,618,095,442 USD. It has a circulating supply of 72,511,146,418 VET coins and a max. supply of 86,712,634,466 VET coins.

Cardano (ADA)

Technical Analysis: BUY at or below $0.50

About Cardano

One of the biggest aspects of Cardano is the way it’s built out. Cardano has laid out a roadmap of five stages that will lead to the ultimate goal, which is to become a self-sustained decentralized system. ADA also launched smart contracts this year. Also, one of the major focuses of this plan is to rely on peer review before launching any updates.

 Cardano price today is $0.466718 USD with a 24-hour trading volume of $1,758,252,281 USD. Cardano is down 6.35% in the last 24 hours. The current CoinMarketCap ranking is #7, with a live market cap of $15,837,642,049 USD. It has a circulating supply of 33,934,048,406 ADA coins and a max. supply of 45,000,000,000 ADA coins.

 Crypto Buy Recommendations (Technical Analysis and Fundamentals)

Ethereum (ETH) – The Merge incoming 

Technical Analysis: BUY at or below $1,007

About Ethereum

Ethereum is well established as the second-largest cryptocurrency by market cap.

While many challenges have vowed to outcompete with Ethereum, the network remains the largest offering smart contracts and dApp development. To date, thanks to backing the world’s largest NFT marketplace, the Ethereum network has generated more than $27 billion in all-time sales volume – the largest in crypto.

Ethereum price today is $1,062.62 USD with a 24-hour trading volume of $27,839,497,588 USD. Ethereum is down 11.45% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $128,767,858,441 USD. It has a circulating supply of 121,179,515 ETH coins and the max. supply is not available. This is the lowest Ethereum price since early 2021. With a planned upgrade to Ethereum’s consensus mechanism coming soon (called The Merge), the network will soon enjoy drastically reduced fees. This makes Ethereum one of the best cryptocurrencies to buy in June 2022.

Bitcoin (BTC) – Indicators suggest Bitcoin is a buy

Technical Analysis: BUY at or below $20,600

About Bitcoin

Bitcoin (BTC) is a digital or virtual currency created in 2009 that uses peer-to-peer technology to facilitate instant payments.

Bitcoin price today is $20,589.74 USD with a 24-hour trading volume of $46,180,675,250 USD. Bitcoin is down 8.52% in the last 24 hours. The current CoinMarketCap ranking is #1, with a live market cap of $392,606,254,487 USD. It has a circulating supply of 19,068,050 BTC coins and a max. supply of 21,000,000 BTC coins.

Bitcoin is trading at a price of $29,590 today. Bitcoin has not fallen to below $30,000 since July last year and has not been at the low $29,000 range since late 2020. The Bitcoin price 20-week SMA is up over $37,000 while the 200-day SMA is as high as $41,500.

Bitcoin’s RSI on a weekly view is down at 33%. These indicators suggest Bitcoin is likely to rise in price in the future and hence is one of the best cryptocurrencies to buy in June 2022.

Binance Token (BNB) – native token of crypto’s largest exchange

Technical Analysis: BUY at or below $207

About Binance

Binance is the world’s largest crypto exchange by daily trading volume (currently $63 billion).

BNB is the native token of Binance and powers the crypto exchange while offering reduced fees for investors holding BNB in their Binance wallets.

BNB is the fifth-largest cryptocurrency in the world by market cap ($46 billion) and well ahead of its closest competitor, Cardano ($19.8 billion market cap).

BNB price today is $206.39 USD with a 24-hour trading volume of $1,717,954,451 USD.

BNB is down 7.82% in the last 24 hours. The current CoinMarketCap ranking is #5, with a live market cap of $33,698,413,138 USD. It has a circulating supply of 163,276,975 BNB coins and a max. supply of 165,116,760 BNB coins.

 Investment Diversification

Before investing in any financial vehicle, please note diversification is key to any good investment strategy, and this holds true, when you are investing in cryptocurrency. Do not put all your money in Bitcoin, for example, just because that is the name you know or most hear on the street. There are thousands of options, and it is better to spread your investment across several currencies. Hopefully, the following articles in the subject will help you make better investment decision choices, when investing in Cryptocurrencies.

 

 

 

 Disclosures: The cryptocurrency market is highly volatile, so be prepared for ups and downs. Investors may experience dramatic swings in prices. Investors, who do not have high risk tolerance, cryptocurrency might not be a wise choice of investment. Cryptocurrency is all the rage right now, but investors should remember, it is still in its relative infancy and is considered highly speculative. Investing in something new comes with challenges. Investors, who plan to invest in Cryptocurrency should do their own research, and invest according to their risk tolerance.

 

June 16, 2022Tags: Automatedtrading, avalanche, Binance, bitcoin, cardano, Cryptocurrency, Etherium, Forecast, Forex, forextrading, FXtrading, mam, multiaccountmanagement, VeChain