The approaching Bitcoin all-time high is pushing many altcoins towards record prices. May saw several new all-time highs, and June is expected to follow suit.
We analyzed three of these altcoins that are approaching the formation of new all-time highs and how they can reach these levels.
Maple Finance ($SYRUP )
The price of SYRUP is currently trading at $0.345, which is about 35.69% lower than its recent high of $0.470 in late May. This suggests that the altcoin has strong potential to reach a new all-time high in June, supported by ongoing bullish momentum.
SYRUP shows a strong correlation of 0.68 with Bitcoin, indicating that it often follows BTC price trends. With a 122% rise over the past month, SYRUP is well-positioned to continue benefiting from Bitcoin's upward movements.
SYRUP Price Analysis.
However, selling pressure may threaten SYRUP's gains. If investor sell-offs push the price below the support level of $0.332, the altcoin could decline further to $0.288 or even $0.244, negating the bullish outlook.
Hyperliquid (#HYPE )
The price of HYPE has risen by 78% in the past month and is currently trading at $33.65. The altcoin is still 27.2% lower than its all-time high of $42.25 in December 2024, indicating strong potential for further gains in the near term.
In May, HYPE attempted to break its all-time high but retreated, correcting downward. The Relative Strength Index (RSI) is currently in the bullish zone, indicating continued positive momentum and increasing the likelihood of a successful breakout in June. This could help HYPE enter the list of altcoins reaching new all-time highs next month.
HYPE Price Analysis.
Despite the optimism, a sudden bearish shift could push HYPE below the support level of $31.26. Such a move could lead to declines towards $27.31 or even $23.20, negating the current bullish outlook.
BNB
The price has risen $BNB
by 10% over the past month and is currently trading at $658, which is about 20.6% lower than its all-time high of $793. Maintaining this bullish momentum could help BNB reach new levels in June, attracting the attention of investors looking for growth opportunities.
The Chaikin Money Flow (CMF) indicator is still above zero, indicating strong inflows supporting BNB's upward trend. A break above the $700 level and turning it into support would confirm BNB's potential to form a new all-time high, boosting market confidence.
BNB Price Analysis.
However, BNB has struggled to break the resistance level of $686 recently. If selling pressure intensifies at this level, the price could drop below the support level of $647, potentially leading it down to $618 or $600, which would negate the bullish outlook.
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