A crypto strategist known for his timely altcoin calls believes the Layer-1 protocol Sui (SUI) is gearing up to trigger breakout rallies.
Pseudonymous analyst Bluntz tells his 274,600 followers on social media platform
Bluntz relies on the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave wave after completing an ABC correction pattern.
The analyst shares a chart that suggests the SUI could rise to $1.80 in the coming weeks.
“SUI is back in a technical high time frame, higher lows and higher highs + key level already removed.
I think it will surprise a number of people in the coming weeks or months.”
At the time of writing, SUI is worth $1.17, up over 13% in the last 24 hours.
Looking at the feline-themed memecoin Simon’s Cat (CAT), the crypto strategist believes the altcoin is gearing up for another breakout after clearing its resistance at $0.00003.
“CAT is trading like a beast here, with a steady rise even while the markets were in a downtrend and now consolidating at previous highs.
I think this resolves violently higher.
Simon’s Cat is a new memecoin that was launched last month on the Binance Smart Chain. It is based on the British animated web and book series Simon’s Cat.
Looking at the trader’s chart, he seems to suggest that CAT needs to clear its resistance at $0.000036 before witnessing new rallies.
At the time of writing, CAT is trading at $0.0000354, up over 13% on the day.
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Generated image: Midjourney