Solana Price Skyrockets Past $140 : Will SUI Follow Suit and Soar Next ?
The bullish momentum of SOL and SUI raises intriguing questions. Will they truly skyrocket in the coming days? What opportunities are there for savvy investors to seize?
Solana Spreads Its Wings
After a challenging period, Solana (SOL) seems to be back on track. The token recently managed to break a significant bearish pattern, the famous “falling wedge,” a very bullish technical signal. This breakthrough around $128 has allowed SOL to soar to $140, a performance of +8% over the past week.
If the bullish momentum continues, the next technical targets are set at $153, at the 50-day moving average, and potentially at $181 at the 200-day moving average. Such a scenario would represent a gain of 32% from current levels.
The MACD indicator, widely followed by traders, confirms this upswing in momentum with a bullish crossover of its two lines. Provided that the volumes follow suit, SOL could thus initiate a strong upward trend in the coming days.
Sui (SUI) Getting Ready for a Potential Breakout!
Similar to SOL, SUI has followed a similar structure, moving within a “falling wedge” since its all-time high of $5.36 reached on January 6th. The token has recently bounced off the support of the lower trendline at $1.97, and is currently trading at $2.39, nearing a crucial breakout point.
A confirmed breakout and a retest of the upper wedge limit could propel SUI towards the 50-day moving average and the target of $3.25. Sustained bullish momentum could even push SUI up to $3.73, at the 100-day moving average – representing a potential rise of 57% from current levels.
SUI’s MACD is also heading in a bullish direction, with a histogram showing a decrease in negative momentum, suggesting a possible trend reversal. If volumes support this breakthrough, SUI could follow the same path as SOL and begin a strong upward trend. The CMF is still negative on a daily basis, indicating a possible buying opportunity if the market picks up.
In conclusion, with Ethereum (ETH) leading the market recovery, altcoins like SOL and SUI are showing promising signs of a bullish reversal. If Bitcoin and Ethereum maintain their strength, the overall market could see new upward movements, propelling SOL and SUI even higher.
Traders should keep a close eye on peak volumes and key moving averages, as they could confirm the strength of these technical breakthroughs.
How to Buy SUI on Bitget ?
Investing in SUI on Bitget is a simple and effective process, perfect for beginners. Here is a clear guide to buying the SUI token:
- Create a Bitget account
Visit the official Bitget website and sign up with your email or phone number. Validate your registration via the code sent. - Complete KYC verification
Submit an identity document and, if required, proof of address to pass the KYC verification. This quick step is essential to access all features. - Add funds
In “Deposit,” top up your wallet with cryptocurrencies (USDT, BTC, etc.) or via fiat (credit card, bank transfer). - Access the SUI market
Go to “Spot Market” or “Trading,” search for “SUI,” and select the SUI/USDT pair to open the trading interface and proceed with the purchase. - Place a buy order
Opt for a market order (instant purchase) or limit order (custom price). Enter the desired amount of SUI, verify, and confirm.
Charles Ledoux
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
This article is for informational purposes only and should not be considered as investment advice. Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
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