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.
