Cryptocurrency analyst and dealer Jason Pizzino is warning that one Solana (SOL) competitor is susceptible to a extreme correction.
In a brand new video, Pizzino tells his 345,000 YouTube subscribers that Sui (SUI) could also be repeating a historic sample that would result in a collapse.
In response to Pizzino, SUI noticed an overbalance in time and worth following its collapse to a low of $2.38. Pizzino explains that the overbalance means SUI went down longer in worth and additional in time than any corrective interval it witnessed throughout this bull market.
With the present setup, the dealer says SUI could also be following within the footsteps of its April to August 2024 worth motion when it initially crashed from about $2 to beneath $1 earlier than witnessing one other deep corrective transfer.
“[Sui is] making an attempt to carry the 50% stage much like what it did final time [in April 2024]. Okay, that was a 58% decline into this freak backside ($0.43 in August 2024). So see that dump into this stage. It’s nearly precisely the identical guys.”
He says if Sui can not maintain $2 as assist on the each day chart it could dip to $1.60 and even decrease, which might be according to the 2024 sample.
“So for those who get these subsequent couple of panic lows, I’d be trying someplace round again to $1.60, possibly even $1.10, $1.20 at these earlier tops, possibly again down into that zone [around $0.73]. However we received’t fear about these but. Let’s see if it really will get again all the way down to the $2 stage.”
SUI is buying and selling for $3.60 at time of writing, up 14% within the final 24 hours.
Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox
Verify Worth Motion
Comply with us on X, Fb and Telegram
Surf The Each day Hodl Combine
 
Disclaimer: Opinions expressed at The Each day Hodl aren’t funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual danger, and any losses you could incur are your accountability. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please word that The Each day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
