The post SUI all Set to Become the Next Solana While Aptos is Gearing Up to Compete With SEI-Here’s What’s Next! appeared first on Coinpedia Fintech News
The Bitcoin bull market is about to begin and as a result, the altcoins appear to be gearing up for the next move. SUI & SEI prices have been demonstrating massive moves in the past few weeks and hence are believed to outperform some of the top trading altcoins. However, Aptos (APT) which surged by over 35% in the past 7 days is set to offer a tough fight to SEI. With the bearish September coming to an end, here is what you can expect from these tokens by the end of 2024.
Aptos (APT) Price Analysis
After breaking from a range, the Aptos price is correcting to some extent and has held strongly above the interim support. With the monthly close around the corner, the volatility is expected to kick off finely as the bulls seem to have entered the space. However, the question remains whether the APT price will reclaim $10 in the first few days of October.
The APT price broke out of the descending parallel channel and is undergoing a minor correction. The bulls are experiencing some exhaustion and as a result, the price may plunge and test the local support at $7.7. The On-balance volume or the OBV, remains grounded in the lower range and has triggered a fresh bearish pull. Therefore, this indicates the price may even break the support and hit the resistance of the channel before triggering a rebound to reach the pivotal 200-day MA at $8.71. A rise above these levels may certify the beginning of a fresh upswing.
Sei (SEI) Price Analysis
The SEI price halted the bearish trend that it held since the rejection from the yearly highs above $1. This indicates the bulls are gearing up to initiate the next price action, which may be validated after securing the local resistance zone between $0.44 and $0.45. The price is experiencing equal pressure from either of the sides, suggesting a breakout could be nearby.
The RSI continues to remain elevated, holding the ascending trend line regardless of the interim bearish pressures. Therefore, the SEI price remains poised to enter the resistance zone, which may certify a rise above the bearish influence. These levels may further offer a strong base, which may keep up the bullish momentum until it reclaims the milestone at $1 and later for the rest of 2024.
Sui (SUI) Price Analysis
After a 200% rally since August, the SUI price is just 25% away from the yearly highs above $2. The RSI has been trading within the overbought zone for over a week, suggesting the bull run for the altcoins has already begun. Therefore, the SUI price could eventually undergo a brief consolidation below the resistance and try to surpass the levels in the coming weeks.
As seen in the above chart, the bears are restricting the rally below the resistance zone, and hence the bulls are believed to accumulate the strength required for the next breakout. Besides, the volume has surged magnificently and hence the rise in volatility may be imminent. This trade setup may help the SUI price to reclaim $1.8, which may further elevate the levels to $2.