Sui is showing a strong uptrend driven by memecoin adoption and technical analysis. Crypto analyst Yashu Gola is expecting a potential 20% upside move for the altcoin. The analyst also has his eye on two tokens with high upside potential.
SUI Price Prediction: Is a 20% Rally Coming for the Altcoin?$SUI
Sui (SUI) has gained nearly 6% in the last seven days and 115% in the last thirty days. This performance has placed SUI among the best-performing cryptocurrencies. On the other hand, the crypto market in general has only returned 1.5% and 15% during this period. Technically, a bull flag formation is observed on the four-hour (4H) chart of SUI, suggesting that the rise may continue in October.
A bull flag is formed when price breaks out of a strong uptrend and breaks out into a parallel descending channel. It resolves when price breaks out of the upper trendline and rises to the high of the previous uptrend. Applying this rule to the SUI’s 4H chart suggests that the price target could reach $2.34, an increase of approximately 20% from current levels.
APT Price Prediction: Bearish Signs$APT
The Aptos (APT) chart is signaling a potential downtrend, marked by a rising wedge formation. Characterized by higher highs and higher lows, this formation usually signals that upward momentum is weakening and could signal a possible crash. Additionally, a downtrend in the Relative Strength Index (RSI) suggests that buying pressure is weakening. The RSI is making lower highs as the price continues to rise, suggesting that the altcoin’s price could fall if the support line is broken.
If the rising wedge breaks, APT could drop to the $7.36-$6.66 range, depending on the breakout point. These levels coincide with APT’s Fibonacci retracement levels and previous support areas. However, APT also has the potential for further upside within the wedge range before any breakout. The price could test the $10.32 level amid speculative buying ahead of the token unlock event on October 12. If market sentiment remains bullish and demand is strong, APT could temporarily break above the $10 level despite the underlying bearish indicators.
ALGO Price Forecast:$ALGO
On October 5, the price of ALGO broke above the upper trendline of the wedge but has since pulled back to retest support. This retest allows traders to assess the strength of the breakout and therefore marks a critical phase for the altcoin. If the price holds above the new support level, it usually indicates that the uptrend is about to strengthen further.
If ALGO successfully bounces off this trendline, it will solidify the continuation of the rally and pave the way for a move towards the October resistance level of $0.1423, which is determined by adding the maximum distance between the upper and lower trendline of the wedge to the breakout point.