We assess the potential, expectations, and likelihood of the top blue-chip cryptocurrencies outperforming during the summer of 2024. Interestingly, the cryptocurrency with the highest chance of a bull run might be the one that’s least anticipated.
RELATED – Which Blue-Chip Crypto Will Outperform This Summer?
June 13th, 2024: A Critical Date for Bitcoin
June 13th, 2024, marks a significant decision point for Bitcoin. BTC must move above $69,000 by this date to sustain bullish momentum. Failure to break this level will likely result in BTC struggling, dampening overall market momentum.
Bitcoin (BTC)
BTC is trading close to 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 can break through the $69,000 level by June 13th, it has a reasonable probability of outperforming in the next eight weeks. Chart courtesy: BTC predictive research.
Ethereum (ETH)
ETH is trading approximately 25% below its ATH, with a promising chart setup. Key support levels are holding firm, and resistance levels are within reach.
AI price analysis, explained on Ethereum’s predictions overview, projects a support level at $2185.59 and resistance up to $4573.96.
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 about 40% below its ATH, reflecting significant potential for gains.
Its chart patterns indicate a steady climb towards key resistance levels, with recent ecosystem developments adding momentum.
AI price analysis expects SOL to see a minimum of $105.68 and a maximum of $198.6 in 2024 as explained on this page highlights SOL predictions.
SOL could outperform this summer, especially with continued technological and ecosystem growth. However, the probability of facing resistance at former ATH is a high probability outcome, as explained in InvestingHaven Releases New Solana (SOL) Targets For The Next 18 Months.
XRP
As discussed in A Wild Unexpected XRP Price Target For July 2024, XRP is significantly below its ATH by about 80%, presenting a unique opportunity.
It has shown a strong bullish reversal pattern, indicating a potential major price surge. Regulatory developments could act as catalysts for price appreciation.
Key chart indicators support a bullish outlook, and investor sentiment is improving.
Only in case XRP can clear $0.66 will it have the highest probability of outperforming this summer due to its deep discount from ATH, strong reversal pattern, and potential regulatory catalysts. Chart: XRP forecast.
Conclusion
Each blue-chip cryptocurrency—BTC, ETH, SOL, and XRP—has unique factors that could drive their performance over the next eight weeks. BTC must surpass the $69,000 level by June 13th to maintain momentum. ETH and SOL are positioned for potential gains with solid chart setups. XRP stands out with its strong reversal pattern and potential regulatory catalysts. The current soft USD provides a supportive backdrop for these cryptocurrencies to potentially outperform before the seasonally weak period in September. If bullish momentum picks up, there could be a 3 to 4 week bull run, with XRP being the wildcard due to low expectations and exhausted sellers.
