- Bittensor (TAO) surged 35% weekly after breaking out of a falling wedge pattern near $230-$240, rallying 44% to hit $340 after reclaiming its 200-period moving average.
- SUI is displaying an identical technical setup to TAO's recent breakout, having broken above its falling wedge resistance near $2.12 and showing a bullish MACD crossover.
- If SUI breaks and holds above its 200 MA resistance like TAO did, analysts target $3.00 representing a potential 33% upside from current levels.
- Major altcoins are showing recovery signs after sharp corrections, with AI-focused and Layer 1 blockchain tokens leading the potential bullish momentum.
Date: Mon, April 21, 2025 | 05:40 AM GMT
In the cryptocurrency market, major altcoins are starting to show signs of recovery after enduring sharp corrections since the start of the year. Among them, the AI-focused token Bittensor (TAO) has come into the spotlight with an impressive weekly gain of 35%, fueled by a major technical breakout on the lower timeframes.
Meanwhile, Sui (SUI) — a Layer 1 blockchain token — is flashing a very similar setup to TAO’s recent breakout, suggesting that a short-term rally could be just around the corner.
TAO and SUI Analysis
Looking at the charts side-by-side, TAO recently broke out of a falling wedge pattern on the 4-hour timeframe near the $230-$240 zone. After reclaiming its 200-period moving average (MA), it surged nearly 44%, hitting a local high of around $340.
The breakout was clean, marked by strong bullish candles and a decisive MACD bullish crossover, showing a fresh wave of buying momentum.
Interestingly, SUI is now mirroring the exact same pattern TAO showed before its rally:
- Falling Wedge Breakout: SUI broke above its falling wedge’s resistance near $2.12.
- Testing Moving Average : After a successful retest of the breakout level, SUI bounced back up to $2.22 and is now approaching the critical 200 MA resistance.
- MACD Bullish Crossover: The MACD has just turned bullish, signaling early momentum building on the upside.
If SUI manages to break and hold above the 200 MA resistance — just like TAO did — the next logical target could be around $3.00, representing a potential 33% upside from current levels.
What’s Ahead?
SUI’s price action is definitely something to keep an eye on this week. If it follows through like TAO, the next few days could offer some exciting bullish opportunities. However, failure to break the 200 MA cleanly could lead to more sideways movement before any major move higher.
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