Weekly Analysis of Altcoin Markets: $MATIC , $APT , $SUI - GNCrypto Analytics
MATIC has slightly paused its decline amidst an overall bearish trend in the altcoin market. Currently, the coin is trading between the support zone of $0.51â$0.54 and the resistance zone of $0.58â$0.60.Â
The asset's future movement might be influenced by Bitcoin's chart trend. In a neutral or positive scenario, MATIC might attempt to reach the $0.64 sellerâs level, but achieving a substantial upward trend requires significant buying volumes to swiftly overcome resistance levels.Â
Otherwise, a further decline to new lows awaits, with the first psychological level at $0.50.
Aptos closely mirrors the market dynamics of MATIC. Currently, the asset is trading between a support zone of $6.38â$6.73 and a resistance zone of $7.4â$7.77, having reached this level after a prolonged correction.Â
For growth to commence, APT needs a positive boost from an increase in BTC's price. In this scenario, the coin might challenge seller levels at $8 and $8.5, potentially resuming an upward trend.Â
Alternatively, if the market turns bearish, APT may see a decline below the $6.4 mark.
SUI reached a record high of $2.12 at the end of March but has since undergone a correction of nearly 65%.Â
Currently, the coin is being supported by a buyer's zone of $0.75â$0.80. If this range fails to hold, the price could plummet to a new low at $0.7.Â
A recovery for SUI appears unlikely at present. Only a secure position above the seller's zone of $0.89â$0.94 would indicate a potential onset of an upward trend, which is premature to anticipate at this stage.