SUI Price Chasing a New ATH While Solana Advnaces to Next Targets-Here’s What’s Next for these Altcoins

The post SUI Price Chasing a New ATH While Solana Advnaces to Next Targets-Here’s What’s Next for these Altcoins appeared first on Coinpedia Fintech News

As the Bitcoin price is poised to discover new highs every single day, some of the altcoins have displayed momentum and the possibility of achieving new highs. Solana has been one of the strongest cryptos ever in history, rising from rags to become the 4th largest token after Bitcoin, Ethereum, & Tether. After breaking above the descending pattern that it held for over 7 months, the SOL price is now poised to reach the final barrier before forming the new ATH close to $250. 

Meanwhile, the bears have been trapped at the highs for over a couple of years which raises the concern of an increase in selling pressure. However, the current market dynamics do not support the bearish trajectory suggesting the token could surge beyond the ATH, discovering new highs before the end of the month. 

The SOL price has entered the last phase of the bull run that may accomplish after completing the parabolic recovery. The rebound from the 2023 lows was the breaking point for the rally that constantly formed bull flags and later surged towards the next resistance. Currently, the price has broken above a major bull flag after multiple bullish attempts. Hence, the token is expected to keep up the trend and rise above the crucial resistance zone between $251 and $257. 

The technicals have turned in favour of the crypto with the RSI close to enter the overbought zone while the DMI continuing with the bullish trend. Hence a rise over $250 appears imminent that may assist the Solana (SOL) price rally to mark a new ATH at around $275 to $280 this month. 

Will Sui (SUI) Price Contiue to Discovery New Highs?

Besides, the SUI price has launched a bfresh bullish attack as the bears seem to remain off-the-track for a while. The rise in the buying volume and pressure suggests the token is expected to maintain a strong ascending trend, even after breaching above the resistance of the rising expanding channel. Now that the token has found fresh highs around $3.3, the next pitstop could be around $3.5 which may just be a matter of time. 

The SUI price has experienced a massive rise in volume, which soared from levels below a billion to as high as $3.6 billion in just a couple of days. This huge influx of trading interest suggests the potential increase in the price, which could push the price beyond the interim highs. However, the bears are not expected to hinder the progress of the rally, and hence the SUI price rally is believed to follow the market sentiments until the end of 2024.