A prominent crypto strategist, known for accurately predicting the rise of altcoins, has set his sights on layer-1 protocol Sui (SUI) as it shows signs of potential breakout rallies.
Using the Elliott Wave theory, the analyst, known as Bluntz, believes that SUI is on the verge of a bullish trend after forming a higher low setup following an ABC corrective wave.
Bluntz shared a chart indicating that SUI could climb to as high as $1.80 in the coming weeks, citing the formation of higher lows and higher highs as positive indicators.
Currently, SUI is valued at $1.17, marking a 13% increase in the last 24 hours.
Turning his attention to Simon’s Cat (CAT), a meme coin inspired by the popular animated series, the strategist anticipates a potential breakout after CAT surpassed its resistance level at $0.00003.
Launched on the Binance Smart Chain just last month, Simon’s Cat has garnered attention in the crypto community for its unique theme.
Bluntz’s analysis suggests that CAT needs to breach the $0.000036 resistance to see further upward momentum.
As of now, CAT is trading at $0.0000354, showing a 13% increase for the day.
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Image Source: Midjourney