An expert in cryptocurrency trading, known for accurately predicting trends in alternative coins, suggests that the layer-1 protocol Sui (SUI) is on the verge of significant price increases.
Using the pseudonym Bluntz, the analyst informs his 274,600 followers on the social media platform X that SUI seems to have started a new upward trend following a higher low pattern at the end of an ABC corrective wave.
Bluntz relies on the Elliott Wave theory, which indicates that a bullish asset typically experiences a five-wave surge after completing an ABC correction.
Based on his analysis, the analyst shares a chart indicating that SUI could potentially reach $1.80 in the coming weeks.
“SUI is once again in a strong uptrend, with higher lows and higher highs + breaking through key levels.
In my opinion, it will surprise many in the coming weeks to months.”
Currently, SUI is valued at $1.17, showing a 13% increase in the last 24 hours.
Switching focus to the meme coin Simon’s Cat (CAT), the crypto strategist anticipates a breakout as the altcoin surpasses resistance at $0.00003.
“CAT is demonstrating strong trading activity, steadily moving up even during market downtrends and now consolidating at previous highs.
I believe this will lead to a significant price increase.”
Simon’s Cat is a newly launched meme coin on the Binance Smart Chain, inspired by the British animated series Simon’s Cat.
Reviewing the trader’s chart, it appears that CAT must surpass the $0.000036 resistance level to observe further growth.
Currently, CAT is trading at $0.0000354, reflecting a 13% increase for the day.
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Image Credit: Midjourney