Despite top cryptocurrencies struggling around their important resistance levels, the altcoin market has picked up pace over the past few days. Moreover, many tokens have recorded a double-digit surge.
With this, questions like “Is this the right time to invest in altcoins?” and “When will the AltSeason begin?” have recorded an increase in the search volume.
Scroll down as, in this article, we have covered the market sentiments, price analysis, and possible price action of Near Protocol (NEAR) and Sui (SUI) crypto tokens.
Near Protocol Price Retests Its Important Support Trendline
Amid increased price volatility, the NEAR coin price has jumped over 3% within the past day with a trading volume of $184.25 million. Moreover, with a YTD return of 10.76% and a market cap of $4.57 billion, it has secured the 20th position in the global crypto list.
The RSI indicator has recorded a strong bullish reversal below the neutral point. Moreover, the average trendline shows a bullish convergence, suggesting that the price will continue gaining value in the coming time.
If the bulls continue to gain momentum, the NEAR price will prepare to test its resistance level of $4.925 this month. On the flip side, a bearish action could pull the price toward its support level of $3.70.
SUI Price Hints At A Potential Bullish Breakout
The SUI token continues to dominate the altcoin run with a 26.08% jump over the past week and 40.15% during the past month. Moreover, it is on the verge of breaking its resistance trendline, the outcome of which is uncertain.
The Simple Moving Average (SMA) constantly acts as a support to the price chart in the 1D time frame. Moreover, the RSI is on the verge of breaching its overbought range in the 1D time frame. This highlights a positive outlook for the altcoin in the coming time.
A bullish breakout could result in the SUI coin price heading toward its upper resistance level of $1.60. Conversely, if the bears overpowered the bulls, the SUI price could plunge toward its support trendline.Curious about SUI’s long-term price targets? Check out our Sui Price Prediction!
