Date: Fri, Oct 25, 2024, 05:55 PM GMT
In the cryptocurrency market today, Bitcoin’s ongoing price fluctuations amid Tether USDT fud rattle the market, with the coin falling below $67K. This decline has affected several altcoins, particularly layer-1 tokens like SUI and APT, both of which have seen losses of over 7% in the past 24 hours.
Sui (SUI) Analysis:
Sui (SUI) has been under significant bearish pressure lately, with its price falling to around $1.8. The token is struggling to maintain higher lows, signaling that it could be nearing a critical support zone. The Relative Strength Index (RSI) is approaching oversold territory, suggesting that a relief rally may be possible soon.
- Support Levels (S): The key support for SUI lies between $1.78 and $1.75. If SUI manages to hold this area, it could form a foundation for a potential bounce. However, a break below this level could see SUI tumble toward $1.6.
- Resistance: The nearest resistance is above $2.0. If SUI can break above this level, it may make a run for its previous all-time high (ATH) of $2.4.
Expectations Ahead: If the RSI continues to show signs of being oversold, SUI might see some buying pressure, resulting in a short-term bounce. However, holding the $1.75 support level is crucial to avoid further downside.
Aptos (APT) Analysis:
Aptos (APT) has also faced considerable volatility. After initially breaking through a critical resistance level near $10, APT has started retracing. As of now, the token is hovering around the $9.4 mark, with a key support zone between $9.30 and $9.70.
- Support Levels (S): APT has strong support between $9.30 and $9.70 If the token falls below this range, it could drop significantly to around $7.5.
- Resistance (R): The immediate resistance is above $11. If APT can reclaim this resistance zone, it may push toward $12 or higher.
Expectations Ahead: APT must maintain its current support levels to avoid deeper declines. A break below $9.30 could lead to further correction. However, if it can regain the $11 resistance, there is potential for a recovery.
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