Despite facing increased selling pressure in the crypto market, mid-cap altcoins are showing bullish price action, indicating growing investor interest in these altcoins to capitalize on profits during the current market volatility.
This article delves into market sentiments, price analysis, and potential short-term price targets for the SUI and TIA crypto tokens.
Sui (SUI) Price Action:
Despite the prevailing bearish sentiment in the cryptocurrency space, SUI’s price has demonstrated a bullish trend, surging by over 20% in the last 24 hours. Additionally, it has seen an increase of approximately 120% over the past week and 40.11% over the last 30 days.
The Moving Average Convergence Divergence (MACD) indicator has shown a steady increase in the green histogram, signaling a rise in buying pressure in the crypto market. Moreover, its averages indicate a bullish trajectory, suggesting that SUI’s price will likely continue to appreciate this week.
If the market maintains a bullish sentiment, SUI’s price is poised to test its upper resistance level of $1.460. Conversely, in the event of a bearish trend reversal, the altcoin could drop towards its key support level of $0.6125.
Celestia (TIA) Price Action:
Despite heightened price volatility, Celestia’s price has risen by approximately 2% in the last 24 hours, with a trading volume of $81.432 million, reflecting a -15.78% change. Furthermore, it has surged by 30.16% over the past week and currently holds the 57th position with a market cap of $1.164 billion.
The Relative Strength Index (RSI) technical indicator remains close to its midpoint on the 1-day timeframe. Additionally, its average trendline exhibits a bullish curve, hinting at a potential positive reversal for the altcoin in the near future.
If bullish momentum returns, TIA’s price could retest its resistance level of $7.60. However, if bears take control, Celestia’s price may revisit its critical support level of $4.435 in the upcoming month.
