These hot altcoins have built a strong narrative this week, building on a consistent last week: SUI and TAO should be monitored.
The post These Hot Altcoins Have Been Unstoppable Last Week, Set Up A Strong Narrative This Week SUI And TAO Should Be Monitored appeared first on Coinpedia Fintech News
A few years ago, altcoins such as Solana, POS (Polygon), Dogecoin, Uniswap, Chainlink, etc., experienced one of the most famous bull runs in history. Now that the traders have turned their attention to other platforms, the next batch of altcoins is set to start a big run in the coming weeks. Among them are some altcoins that seem to have started their bull run and are expected to enter October trading at a higher level.
SUI
The Sui has been in an uptrend since the beginning of the month and has worsened since last week. After a 40% increase, it was believed that the bull may experience some fatigue, instead they are preparing for the next upward trend. Although the bears are trying to take profits, the rally is believed to cause another 30% increase this week.
After the breakout of the descending parallel channel, the price reaches a critical resistance zone between $1.62 and $1.65. Unfortunately, the bears are limiting the rally below the range, but the technicals suggest that a rally may be coming. The RSI is trading in the overbought zone and as long as it remains in the upper range, the price of the SUI is believed to host a strong breakout.
With this, the price of SUI is believed to rise above the range and reach $1.82, aiming to reach $2 in the first days of October.
Bittensor (TAO)
Similar to Sui, Bittensor Price also printed from the bearish parallel channel and massive dome candles. The price is only 25% away from its highs and a break above the yearly range could give the bulls strength and trigger a new uptrend ahead.
TAO price ended the bearish trend with a strong consolidation, which was followed by a major breakout above critical resistance. However, the price is having some problems to pass the next resistance from $547.7, but after a short consolidation, a smooth increase is expected, it will rise above $600. Meanwhile, the main resistance remains around $620, which could lead to a new ATH reversal.
