An influential crypto analyst predicts a potential 30% surge for a competitor of Solana (SOL) while sharing insights on Bitcoin (BTC) and other cryptocurrencies.
In a recent update, crypto trader Ali Martinez informs his 69,600 followers on X that a crucial indicator is signaling a buy opportunity for SUI, the native token of Sui Network, a layer-1 blockchain and smart contract platform.
“The TD Sequential indicator has flashed a buy signal on the SUI weekly chart. A sustained close above the 50-week moving average could lead to a 30% increase to $1.20!”
The Tom DeMark (TD) Sequential Indicator is a tool used by traders to anticipate price reversals in assets.
Currently, SUI is priced at $0.843 with a slight increase in the last 24 hours.
Shifting focus to decentralized finance (DeFi) protocol Aave (AAVE), Martinez suggests a possible 27% downturn as the TD Sequential signals a sell indication on its daily chart.
“Historically, each time the AAVE daily chart displayed a sell signal through TD Sequential, there was an average correction of 27%. The latest sell signal indicates a potential dip for AAVE.”
AAVE is currently valued at $135.47, reflecting a 1.1% decline in the past day.
In addition, Martinez points out that Polygon (MATIC), a layer-2 scaling solution, might experience a correction following a period of upward movement.
“Despite recent growth, caution is advised for Polygon as the TD Sequential on the hourly chart hints at a potential correction for MATIC.”
At present, MATIC trades at $0.52, marking an 8.4% gain in the last 24 hours.
Concluding the analysis with Bitcoin, Martinez suggests that BTC is still early in its post-halving bull cycle based on historical patterns. He also notes that the industry typically sees an uptrend following significant minting of the stablecoin Tether (USDT).
“Since the 2024 Bitcoin halving, 119 days have passed. In past cycles, BTC reached its market peak around 530 days post-halving. If history repeats, we are in the initial stages of this cycle!”
Bitcoin is currently priced at $60,330.
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