A crypto strategist known for making timely decisions on altcoins believes that Layer 1 protocol Sui (SUI) is preparing to trigger breakout rallies.
Pseudonymous analyst Bluntz tells his 274,600 followers on social media platform X that SUI appears to have sparked a new uptrend after posting a higher low pattern amid the conclusion of a corrective wave ABC.
Bluntz relies on Elliott Wave Theory, which states that a bullish asset tends to experience a five-wave surge after completing an ABC corrective pattern.
The analyst shares a chart suggesting that SUI could reach $1.80 in the coming weeks.
“SUI is back in a high technical uptrend, higher lows and higher highs + one key level already removed.
This is going to surprise a few people in the coming weeks or months, I think.
At the time of writing, SUI is worth $1.17, up more than 13% in the last 24 hours.
Looking at feline-themed memecoin Simon’s Cat (CAT), the crypto strategist believes the altcoin is preparing for a fresh breakout after overcoming its resistance at $0.00003.
“CAT is trading like a beast here, consistently up even when markets were down and now consolidating at previous highs.
I think it resolves violently higher up.
Simon’s Cat is a new memecoin launched last month on the Binance Smart Chain. It is based on the British animated series Simon’s Cat.
Looking at the trader’s chart, it seems to suggest that CAT needs to clear its resistance at $0.000036 before seeing further rallies.
At the time of writing, CAT is trading at $0.0000354, up over 13% on the day.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check price
Follow us on XFacebook and Telegram
Surf the Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Image generated: Midjourney
