Sui (SUI) and Aptos (APT) follow Bitcoinâs (BTC) lead
As Bitcoin (
$BTC ) time high, the rest of the cryptocurrency market is generally sitting back and watching developments. However, two altcoins are timing their runs to coincide with the Bitcoin surge, and they are SUI and APT. Both are potentially primed to front-run the rest of the field.
That said, a few of the more fundamentally sound altcoins have perhaps already entered into this next, potentially explosive stage of the bull market. Both
$SUI and
$APT , ranked #23 and #26 by market capitalisation, are Layer 1 networks, and as such are competitors to the likes of Ethereum and Solana. Given their vastly smaller market caps compared to these giants, there is perhaps a lot more room for growth.
From early August this year, the SUI price went on a massive run, putting on 410% up to mid-October. From there, the price experienced a 32% dip, which is a decent retracement to enable the gains to be absorbed, and for keeping the upward trend a healthy one.
The price came down to the 0.382 Fibonacci and has bounced from there - a bullish move. Currently up against the trendline of a descending triangle, a push-through here could open the way to further price growth.
Aptos is up more than 12% on the day so far. The price is currently within a broadening wedge pattern, and having touched the lower trendline, the price is heading back to the top, although with some horizontal resistance still to be overcome.
Zooming out into the weekly view, it can be seen that the APT's bulls do have a much tougher task in front of them than the SUI's bulls. The APT's price is still 96% lower than the last swing high, and this was lower than the previous local high.
The price is currently up against horizontal resistance, and there is also resistance from the 0.382 Fibonacci to be overcome just above this.
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