Despite the top cryptocurrencies struggling around key resistance levels, the altcoin market has been on a tear over the past few days. Moreover, many Token have recorded miraculous double-digit surges.
Against this backdrop, questions like “Is this a good time to invest in altcoins?” and “When will AltSeason start?” have seen an increase in search volume.
Scroll down to explore the market sentiment, price analysis, and potential price action of NEAR Protocol (NEAR) and Sui (Sui ) Token in this comprehensive article we’ve covered.
NEAR Protocol Price Retests Key Support Line
Amidst the sharp price fluctuations, NEAR has increased by more than 3% in the past day with a volume of $184.25 million. Moreover, with a YTD of 10.76% and a market Capital of $4.57 billion, it has secured the 20th position on the global cryptocurrency list.
The RSI has recorded a strong bullish reversal below the neutral point. Furthermore, the Medium resistance level shows bullish convergence, suggesting that the price will continue to rise in the near term.
If the bulls continue their bullish momentum, NEAR price will be ready to test the $4,925 resistance level this month. Meanwhile, a downside move could pull the price towards the $3.70 support level.
Sui Price Hints at a Potential Bullish Breakout
The Sui Token continues to dominate the altcoin race with a gain of 26.08% over the past week and 40.15% over the past month. Moreover, it is on the verge of breaking the resistance level, the outcome of which is still unclear.
The SMA indicator is always a support for the price chart in the 1D time frame. Moreover, the RSI indicator is on the verge of breaking the overbought level in the 1D time frame. This highlights the positive outlook for the altcoin in the near future.
A bullish breakout could lead Sui price towards the upper resistance level at $1.60. Conversely, if the bears gain strength, Sui price could plunge towards the support line.
Want to know more about Sui's long-term price target? Explore our Sui price prediction!
