Sui Could Crash 40%
Crypto analyst Ali Martinez is warning about Sui (SUI), a Solana competitor. He’s seeing a bearish pattern forming on the charts, suggesting a potential 40% price drop. This would send SUI down to $1.60 from its current price of around $2.73. Martinez points to a “head and shoulders” pattern, a classic bearish indicator, and the recent break below a key support level of $3. He says the odds of this significant correction are now much higher. It’s worth noting that SUI is already down considerably from its all-time high of $5.35.
Bitcoin’s Next Move?
Martinez also shared his thoughts on Bitcoin (BTC). He sees BTC consolidating within a triangle pattern, setting the stage for a potential 20% price swing, either up or down. He highlights that long-term Bitcoin holders (those holding for over 155 days) have been accumulating, with an 85,000 BTC increase in holdings over the past month. This currently puts the supply held by long-term holders at 13,195,498 BTC. Bitcoin is currently trading around $89,170.
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