The crypto strategist, known for his apt altcoin predictions, believes that layer 1 protocol SUI is poised to trigger a breakout rally.
Blunts, a pseudonymous analyst, told his 274,600 followers on social media platform X that SUI appeared to have triggered a new bullish trend as it formed a higher low amid the ABC corrective wave.
Blunts relies on Elliott Wave Theory, which explains that bullish assets tend to experience a five-wave surge after completing an ABC correction pattern.
The analyst shared a chart suggesting that SUI could rise as high as $1.80 in the coming weeks.
“SUI is back in a technical high timeframe uptrend again, with higher lows and higher highs + major levels already cleared.
I think some people are going to be surprised in the next few weeks and months.”
At the time of writing, SUI is worth $1.17, up more than 13% in the last 24 hours.
Looking at the cat-themed meme coin Simon’s Cat (CAT), the crypto strategist believes that the altcoin is gearing up for another breakout after breaking through the $0.00003 resistance level.
“CAT is trading like a beast here. It has been consistently rising even when the market is down and is now consolidating at its previous high.
“I think this will be resolved much more violently.”
Simon’s Cat is a new meme coin that launched on Binance Smart Chain last month. It is based on the British animated web and book series Simon’s Cat.
Looking at the trader’s chart, it seems he is suggesting that CAT needs to break the resistance level of $0.000036 before it can start a new uptrend.
At the time of writing, CAT is trading at $0.0000354, up more than 13% on the day.
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