Posted 11/27/2023, 1:01:01 AM
Sui and Solana Rally, Bitcoin Struggles Above $38K as Money Flows Out of Altcoins
- Analyst predicts rally for Sui (SUI), a Solana rival, calling it early stages of an uptrend after breaking out from a rounding bottom pattern
- Solana (SOL) looks bullish after market bought the dip down to $52; analyst expects "definitely going higher"
- Also watching Chainflip (FLIP), an AMM aiming for low slippage swaps, expecting more rallies as it gets listed on more exchanges
- Bitcoin (BTC) push above $38K Friday seemed unsustainable, fueled by traders selling alts; tough to keep going above $40K that way
- Altcoins sold off as money flowed into Bitcoin's move up, typical behavior at key inflection points when traders don't want to miss BTC rips