Big Day Approaching for This Altcoin: Analyst Predicts It'll Reach 'Higher'!
Despite the frequent volatility in the world of cryptocurrency, the predictive abilities and market insights of some analysts can serve as guides for investors. In this context, The Flow Horse, a closely watched crypto analyst, has expressed bullish expectations for Sui Network, a competitor to Solana, which has seen significant gains recently.
The Flow Horse suggests that Sui Network, a layer-1 blockchain, will remain in an upward trend if it maintains a key support level. Additionally, the analyst refers to data from cryptorank.io to share details of a major unlocking event scheduled for early next month. Unlocking tokens can sometimes create a sellable new token supply, leading to price corrections. However, The Flow Horse believes that the market will easily absorb the new tokens and SUI will continue to rise.
"As long as it holds $1.30, SUI is still on the rise. A reasonable unlocking event within a month will result in a hedging pressure that will lead to buybacks in both cases. I think it will go much higher."
However, SUI is not the only altcoin the analyst is monitoring. The Flow Horse indicates a downward trend for Monero (XMR), the largest privacy-focused cryptocurrency, and other similar projects. The analyst's comments came shortly after the world's largest cryptocurrency exchange, Binance, announced the end of its support for the altcoin.
"There's no chance for privacy chains, and any road to them is a trap. If you don't think so, you're utopian... To be clear, I believe privacy is a right, but my views are not realistic."
Finally, evaluating Bitcoin, the analyst suggests that it's possible for BTC not to see a significant price correction during the halving event in April, as in other cycles.
At the time of writing, Bitcoin is trading at $43,536, experiencing a slight increase in the last 24 hours.
You can follow the current price movement from here.
TAGS: Altcoin, Bitcoin, Cryptocurrency Source: The Daily Hodl
Despite the frequent volatility in the world of cryptocurrency, the predictive abilities and market insights of some analysts can serve as guides for investors. In this context, The Flow Horse, a closely watched crypto analyst, has expressed bullish expectations for Sui Network, a competitor to Solana, which has seen significant gains recently.
The Flow Horse suggests that Sui Network, a layer-1 blockchain, will remain in an upward trend if it maintains a key support level. Additionally, the analyst refers to data from cryptorank.io to share details of a major unlocking event scheduled for early next month. Unlocking tokens can sometimes create a sellable new token supply, leading to price corrections. However, The Flow Horse believes that the market will easily absorb the new tokens and SUI will continue to rise.
"As long as it holds $1.30, SUI is still on the rise. A reasonable unlocking event within a month will result in a hedging pressure that will lead to buybacks in both cases. I think it will go much higher."
However, SUI is not the only altcoin the analyst is monitoring. The Flow Horse indicates a downward trend for Monero (XMR), the largest privacy-focused cryptocurrency, and other similar projects. The analyst's comments came shortly after the world's largest cryptocurrency exchange, Binance, announced the end of its support for the altcoin.
"There's no chance for privacy chains, and any road to them is a trap. If you don't think so, you're utopian... To be clear, I believe privacy is a right, but my views are not realistic."
Finally, evaluating Bitcoin, the analyst suggests that it's possible for BTC not to see a significant price correction during the halving event in April, as in other cycles.
At the time of writing, Bitcoin is trading at $43,536, experiencing a slight increase in the last 24 hours.
You can follow the current price movement from here.
TAGS: Altcoin, Bitcoin, Cryptocurrency Source: The Daily Hodl
