Date: Fri, Sept 20, 2024, 11:06 AM GMT
The cryptocurrency market has kicked off a bullish rally over the last 48 hours after the U.S. Federal Reserve announced a 50 basis point interest rate cut. This news has sent positive waves through the market, with Bitcoin (BTC) jumping from $59K to over $63K. Alongside Bitcoin’s surge, Layer-1 tokens like Sui (SUI) and Aptos (APT) have experienced impressive gains, making them standout tokens to watch.
1. Sui (SUI)
Sui, a unique Layer-1 blockchain known for its smart contract capabilities, has seen a remarkable increase today. Its price has surged by 14.35%, reaching $1.54. This rally began after Sui successfully broke through a key resistance level at $1.41, triggering upward momentum.
If Sui continues to climb, it could target the next resistance levels at $1.71 and $2.17, representing a potential 50% upside from its current price. This makes SUI one of the most promising tokens in today’s market.
The technical indicators reflect this bullish trend, with Sui’s Relative Strength Index (RSI) currently at 85.86, signaling strong buying momentum.
2. Aptos (APT)
Aptos, another independent Layer-1 blockchain focusing on safety and scalability, has outperformed most tokens with a 10.69% price surge today. Aptos broke through a downward trendline at $6.66 and is now approaching a crucial resistance level at $7.52.
If Aptos break through this resistance, it could continue its upward momentum and reach $9.30, offering a potential 24% upside from its current price. Aptos’s current RSI is 65.35, indicating strong but moderate buying pressure, while its RSI-based Moving Average sits at 46.81.
What’s Next?
Both Sui and Aptos are showing promising signs of continued growth as they gain momentum during this bullish phase in the market. Keep an eye on these Layer-1 tokens, as further gains may be ahead if they break through key resistance levels.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.