Top 3 Undervalued Cryptocurrencies to Accumulate in June

In the aftermath of the recent altcoin crash in the crypto market, several cryptocurrencies are currently heavily discounted, offering significant opportunities for interested traders. This article explores the top three undervalued altcoins that have reached crucial support levels, presenting excellent return on investment prospects.

Timeline of Multiversx-egld, Stacks, Zilliqa

Stacks, the layer-1 protocol that enables smart contracts on Bitcoin, have demonstrated incredible resilience amid bearish market trends. Stacks' STX token price has increased by over 6% over the past week and joined top-gaining coins today with a nearly 0.53% price gain, while the broader crypto market plunged by 1.63% in the last day.

In a surprising turn of events, Stacks token (STX) has soared by over 24% in the past two days, defying the market-wide slump. While other cryptocurrencies experienced double-digit declines, STX has emerged as one of the most profitable tokens, even among the largest by market capitalization.

MultiversX's (CRYPTO: EGLD) price has decreased 3.04% over the past 24 hours to $37.5, continuing its downward trend over the past week of -1.0%, moving from $37.74 to its current price.

Stacks Price Analysis: The ongoing correction phase in stacks coin price is strictly responding to two technical levels which are a downsloping resistance trendline and a horizontal support level of $0.67. The coin price bounced back twice from both aforementioned levels accentuating the traders' respect for these levels and therefore it will also have a

The stacks coin price has been in a correction phase for over six weeks, where the altcoin dropped from a top of $1.31 to a low of $0.6702, registering a 48% fall. A downsloping trendline gave a specific direction to this downfall and assisted sellers to prolong this correction phase.

With the month of May already unfolding, the cryptocurrency market is trading in a relatively choppy trend, taking the cue from the flagship decentralized finance (DeFi) asset – Bitcoin (BTC) – and some altcoins are performing better than others.

Shiba Inu (SHIB) is a decentralized cryptocurrency based on Ethereum, hence a meme-coin born in the wake of the success of other “dog” coins, such as Dogecoin, thanks in part to the support of prominent personalities such as Elon Musk.

Ziliqa (ZIL) has made history by joining the hoard of Layer 1 blockchain protocols spreading their tentacles, especially into the Ethereum (ETH) world. In a recent announcement, Ziliqa revealed that it has successfully launched its Ethereum Virtual Machine (EVM) protocol and is now fully live on the mainnet.

Stacks [STX] witnessed a rebound after hitting the channel's lower boundary. However, given the possible market volatility after the US CPI data, its long-term prospect is worth evaluation.

We continue our analysis of the crypto world with regard to news and prices, today in particular we will analyze three very interesting projects, Polygon (MATIC), Chainlink (LINK) and Elrond (EGLD), which we now know as MultiversX.