A noted crypto strategist, known for his accurate altcoin predictions, has his sights set on layer-1 protocol Sui (SUI) for its potential to initiate breakout rallies. The analyst, who goes by the pseudonym Bluntz, has shared his insights with his substantial following of 274,600 on the social media platform X, suggesting an optimistic future for SUI.
Bluntz's analysis points out that SUI has entered a bullish phase, marked by a higher low setup and the conclusion of an ABC corrective wave, as dictated by the Elliott Wave theory. This theory posits that following an ABC correction, a bullish asset is likely to experience a significant five-wave surge. Bluntz's chart analysis suggests that SUI's value could climb to as much as $1.80 in the forthcoming weeks, a notable increase from its current price of $1.17, which itself represents a 13% increase in the last 24 hours.
"SUI back in a technical high timeframe uptrend again, higher lows and higher highs + key level taken out already. It’s gonna surprise a few people in the next weeks to months, in my opinion," Bluntz remarked, highlighting the promising future he sees for SUI.
Turning his attention to the feline-themed memecoin Simon's Cat (CAT), Bluntz believes that this altcoin is gearing up for another substantial breakout. This prediction comes after CAT overcame its resistance level at $0.00003. Simon's Cat, inspired by the British animated series, has shown resilience and strength, especially notable given its recent launch on the Binance Smart Chain.
Bluntz suggests that for CAT to witness fresh rallies, it must surpass the resistance at $0.000036. At the moment, CAT is trading at $0.0000354, marking over a 13% increase on the day.
Both SUI and CAT are on the radar of crypto investors, thanks to Bluntz's analysis. As the crypto market continues to evolve, these altcoins, backed by significant technical momentum, are ones to watch for potential breakout rallies.
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