A Promising Altcoin Set to Breakout, Bitcoin and Ethereum Analysis

A well-known crypto analyst has shared insights on the potential breakout of a competitor to Solana, alongside updates on Bitcoin and Ethereum.

SUI Network Ready to Soar

In a recent strategy session, Rekt Capital, a pseudonymous trader, informed his large following on X that SUI Network (SUI) is on the verge of a significant breakout. The analyst emphasized that SUI only needs one weekly close above diagonal resistance to initiate a bullish trend. SUI has also surpassed Solana in terms of stablecoin transfers, showcasing its strength in the market.

Currently trading at $3.56, SUI has seen a 10.6% increase in value in a single day.

Bitcoin Storm Hits New Highs

Rekt Capital highlighted Bitcoin’s recent surge to a new all-time high, signaling that the “storm is here.” With a price increase of over $10,000, Bitcoin is trading at $117,755, marking a 5.9% gain in the past 24 hours.

Ethereum Ready for a Rally

Turning to Ethereum, the analyst stated that the second-largest cryptocurrency is gearing up for a rally across its macro range of $2,500 to $3,900. Ethereum’s successful retest of the $2,500 support level indicates a potential upward movement within this range.

At the time of writing, Ethereum is priced at $2,980, showing a 7.5% increase for the day.

Stay Updated

For more crypto insights and analysis, follow us on X, Facebook, and Telegram. Subscribe to receive email alerts and keep track of price actions in the market. Don’t miss out on the latest updates and trends in the crypto space.

Generated Image: DALLE3