Date: Sun, Sept 29, 2024, 06:08 PM GMT
The cryptocurrency market is buzzing with excitement after the Federal Reserve’s recent rate cut decision, which has sparked a bullish rally. Historically, October has been a strong month for crypto, and traders are anticipating another big run this year. Layer-1 tokens, in particular, are riding this wave of optimism, with Sei (SEI) and Sui (SUI) leading the charge.
Sei (SEI) has surged by an impressive 16% today, contributing to a 38% rise over the past 7 days. Meanwhile, Sui (SUI) is keeping pace, gaining 11% today and an extraordinary 126% over the last 30 days. Let’s break down the key levels to watch for both tokens.
Key Levels to Watch:
1) Sei (SEI)
SEI is known for its platform that allows developers to create groundbreaking decentralized applications. It has surged 16% today, bringing the price to $0.5115.
Earlier, on Sept 20, SEI broke out of a downtrend, crossing a key level at $0.3097, which paved the way for today’s price jump. Currently, SEI is trading just under a minor resistance level at $0.5217. If the current bullish momentum continues and SEI breaks through this resistance, we could see it climb to $0.5807—an additional 11% upside from its current price.
2) Sui (SUI)
Sui is a permissionless smart contract platform that utilizes the Move programming language. SUI has been on an impressive run, surging 124% over the past month. This rally has been fueled by the launch of the Sui Trust fund by Grayscale, which has boosted investor confidence in the project.
Currently trading at $1.82, SUI broke out from a key level at $1.72. There’s little resistance between the current price and its next target of $2.18, which represents a 17% gain. If SUI reaches this level, it will also set a new all-time high. Given the strong market momentum, SUI seems well-positioned for continued growth.
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