The cryptocurrency market is filled with potentially profitable trades that are sometimes hard to spot. Moreover, there are more than 12k crypto assets tracked by Coingecko and Binance-backed Coinmarketcap. Nevertheless, it is much easier to track the altcoin market in relation to the Bitcoin price action. Mind you, almost the entire altcoin market rides on the success of the top digital assets including Ethereum and BNB.
Money flows in the cryptocurrency market are largely segmented amid new and performing meme coins like Pepe and WOJAK. However, the analyst is convinced there is a potential shift that could see Bitcoin, Sui and Litecoin surge in the near term. Here’s a closer look.
According to the analyst, Sui network’s SUI coin could be on the verge of a double percentage breakout. In this regard, the analyst highlighted that Sui has been forming a falling wedge pattern on a rising trend, which is a characteristic of an imminent breakout.
Notably, Sui was launched earlier this week and its farming is available on Binance LaunchPool.
As for the top digital asset by market capitalization, the analyst highlighted that the bulls need to clear the $29.4k hurdle to secure a rally towards $32.8k.
Currently, Bitcoin’s dominance is at a crucial level of around 48.5 per cent after rejecting it severally since the end of the 2021 crypto bull market.
As for Litecoin, the analyst noted that the upcoming halving event will trigger FOMO traders. As a result, Crypto Faibik is significantly convinced Litecoin will revisit its ATH after August’s halving.
By Qadir AK | Original Link