SUI ($SUI) and Aptos ($APT) follow the footsteps of Bitcoin ($BTC)
As BTC ($BTC) prepares to hit a new all-time high, other parts of the cryptocurrency market are usually watching the situation develop. However, two AltCoins are pumping in sync with BTC's surge, they are $SUI and $APT. Both have the potential to lead the pack.
BTC (BTC/USD) is currently thriving, and it is not impossible to reach a new all-time high before today's closing. With the trend of BTC, especially in the key stage of the Bull Market, most AltCoin traders either support the king of Cryptocurrency or stand by, waiting for signs that AltCoin is about to follow suit.
That being said, some fundamentally stable AltCoins may have entered the next potential explosive phase of the Bull Market. $SUI and $APT are both ranked 23rd and 26th by Market Cap, and they are competitors to Ethereum and Solana, etc. Considering their much smaller Market Cap compared to these giants, there may still be a significant rise potential.
$SUI is about to break out of the descending triangle? Since early August this year, $SUI has pumped significantly, pumping 410% as of mid-October. Since then, the price has dropped by 32%, which is a good pullback to absorb profits and maintain a healthy rising trend.
The price fell to the 0.382 Fibonacci level and rebounded from there - bullish trend. It is currently on the descending triangle trend line, breaking through this level may pave the way for further pump in price.
Potential $SUI cup and handle pattern? On a higher weekly timeframe, it can be observed that $SUI may potentially form a cup and handle pattern. If this scenario occurs, the measured move would take the price above 4 dollars. The weekly RSI shows there is still sufficient room before the price becomes Overbought.
$APT is climbing within an expanding wedge, with Aptos pumping over 8% on the day so far. The price is currently in an expanding wedge pattern and has touched the lower trendline, with the price rising towards the top, although there are still some horizontal resistances to overcome.
Is a huge $APT W chart pattern forming? From the weekly chart, it can be seen that the task facing $APT long positions is indeed much more difficult than $SUI long positions. The $APT price is still 96% lower than the previous Fluctuation high and lower than the previous local high.
The current price is currently contending with the resistance level horizontally, and there is also a 0.382 Fibonacci resistance level above that needs to be overcome. If the $APT price can break through and confirm the resistance level above, it may form a huge W pattern. Breaking this resistance level may lead to a significant pump in future prices.
(Data source: Laurie Dunn)