Solana Rival That’s Exploded Over 130% in a Month Primed To Hit New All-Time High, According to Analyst
A widely followed crypto analyst believes that one red-hot Solana (SOL) rival may soon print new all-time highs (ATHs).
Crypto trader Michaël van de Poppe tells his 729,500 followers on the social media platform X that Sui (SUI) could soar more than 23% from its current value.
“Sometimes you’ll need to remain patient. Shared this on SUI before, and marked that level [at $1.79]. Got there and has a strong bounce of close to 10%. I think we’ll continue towards the highs on SUI and potentially reach $2.25-$2.50.”
Source: Michaël van de Poppe/X
SUI is trading for $2.03 at time of writing, a gain of 134% since September 11th when it was trading at $0.867. SUI’s all-time high price of $2.17 was reached in March.
Next up, the analyst says that Bitcoin (BTC) may be heading much higher after recovering from Thursday’s dip to the $58,000 level.
“Bitcoin took the liquidity and bounced upwards. It’s trading above $60,000 and it’s very likely that the correction is over. Once it breaks through $62,300, things can go fast. Buy the dip.”
Source: Michaël van de Poppe/X
The analyst also predicts changes will occur in the macroeconomic conditions, including additional Fed rate cuts, that will cause investors to take on riskier investments like Bitcoin.
“There’s a massive monthly bearish divergence taking place on the 2-year and 10-year Yields in the U.S. I’m expecting this to continue falling from here, with labor markets weakening. Most likely QE (quantitative easing) plus more rate cuts from November onwards [leading to] risk-on with BTC carrying the markets.”
Source: Michaël van de Poppe/X
Bitcoin is trading for $62,286 at time of writing, up more than 2% in the last 24 hours.
Generated Image: Midjourney
