A top analyst believes that a challenger to Solana (SOL), which has been trading under the radar, is in the early stages of an upward trend.
Pseudonymous analyst The Flow Horse told his 188,000 followers on social media platform
“It seems like this SUI trend is just getting started.
“Everything that has come out in the last six months, everything that has been finalized while we are getting back to key volume levels, is on my list of things to do aggressively.”
As of this writing, SUI is trading at $0.65, down nearly 3% in the last 24 hours.
Next is smart contract platform Solana itself, with traders saying they were bullish on Solana after market participants accumulated losses as the stock fell to a weekly low of $52.21.
“So SOL will definitely be higher.
“This is a very optimistic correction and the spot market is buying everything.”
As of this writing, SOL is worth $58.30.
Another altcoin on traders’ watchlists is Chainflip (FLIP), an automated market maker (AMM) that aims to provide users with low slippage on native cross-chain swaps. According to analysts, FLIP is expected to see more rallies in the future. get Listed on more cryptocurrency exchanges.
“I bought some FLIP.
(THORChain) A new pair of similar ideas to RUNE. There is no legal criminal market yet and there are only a few spot listings. “As we see it listed in more places, we can see this is working hard.”
As of this writing, FLIP is worth $6.04.
Looking at Bitcoin (BTC), The Flow Horse said The cryptocurrency king’s rise toward a 2023 high of $38,189 on Friday looked unsustainable. According to analysts, traders were fueling the surge by selling altcoins to participate in BTC’s rise.
“Bitcoin is trending higher (Friday) at the expense of altcoins. To some extent, this type of behavior is expected at major inflection points, as no one wants to get out when it looks like BTC is about to tear apart. It would be difficult to stay above $40,000 on this type of fuel.”
As of this writing, BTC is trading at $37,742.
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