The cryptocurrency analyst and trader Ali Martinez is leaning on a competitor of Solana (ground).
Martinez said to her 130,100 subscribers on the X social media platform that Sui (SUI) faces the risk of a “net correction” in the middle of the formation of a lower model.
“Since November 2024, followed a head and shoulder pattern with the $ 3 neck serving as a crucial level of support. And the action of the prices observed in recent weeks has helped to form the right shoulder of the model, which is not a positive sign. After the recent break in the level of support at $ 3, the chances increased significantly for a 40% correction which relates to $ 1.60. »»
SU is negotiated at $ 2.73 at the time of the editorial staff, down approximately 48% compared to the high price of $ 5.35 compared to the beginning of January.
Then Bitcoin (BTC). On the potential movement, King Crypto is likely to do then, says Martinez,
“Bitcoin is consolidated in a triangle, preparing the ground for a potential price movement of 20%!”
The Crypto analyst also indicates that on the basis of the blockchain, Glassnode analysis platform, Glassnode, the Bitcoin offer in the hands of long -term holders – entities that kept their sleep parts for more than 155 days – increased between February 11 and March 5. The Bitcoin offer currently in the hands of long -term holders amounted to 13,195,498 BTC.
“Long -term holders accumulate!” The offer held by long -term holders increased by 85,000 Bitcoin in the last month. »»
Bitcoin is traded at $ 89,170 at the time of the editorial staff.
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