The old saying, “A rising tide lifts all boats,” which is what people who don’t understand tides usually say, applies to the crypto market because Bitcoin‘s rise has somehow dragged the altcoins along for the ride. Among those clinging on for dear life are the crypto-tokens in the SUI network. Whether they deserve it is another matter entirely 🤔.
BeInCrypto, a place where they analyze things (sometimes correctly!), has peered at three such SUI ecosystem tokens to keep an eye on this week. Whether they’ll be gaining further gains, or just gaining further losses, is the real question 😅.
Walrus (WAL)
WAL has experienced a rather noticeable 22% increase over the last 24 hours, and is now changing hands for a princely $0.504. This surge is apparently due to something called “heightened market volatility,” which is just another way of saying “nobody knows what’s going on” 🤪.
WAL is trying to bash its head through the $0.505 barrier for the second time this month. If successful, it might actually do something useful, like continue its bullish momentum. Or not. Who can tell? 🤷♂️
If WAL manages to break and stay above $0.505, it could waddle toward the $0.547 resistance level. However, for this to happen, you’ll need investor confidence and stable market conditions, which are about as common as hen’s teeth. A sustained rise beyond $0.547 could propel this SUI ecosystem token toward the dizzying heights of $0.600, further supporting bullish sentiment. In other words, it might go up a bit🤞.
However, if WAL fails to breach $0.505, it may very well fall back to $0.447. This would challenge the altcoin’s recent momentum and could potentially invalidate the bullish outlook. If the decline continues and the price slips below $0.447, WAL could drop further to $0.389, marking a significant setback. Or, as some would say, Tuesday 📉.
DeepBook (DEEP)
DEEP has witnessed some impressive growth, skyrocketing by 116% over the last 24 hours and is now exchanging for $0.194. This surge makes DEEP the best-performing token in the SUI ecosystem. The altcoin is showing strong potential, targeting a break above $0.230 in the near future, suggesting a bullish outlook. Which is nice for them 😼.
If DEEP successfully breaches $0.230, it would mark a two-and-a-half-month high, further solidifying its upward momentum. The altcoin could test $0.170 as support before making a dash toward $0.304. This would indicate a sustained rally, with continued bullish sentiment and the potential to unlock further growth within the SUI ecosystem. Assuming, of course, that gravity doesn’t decide to get involved 💫.
However, if market sentiment shifts and investors decide to take profits (because that happens!), DEEP could lose its support at $0.170. A drop below this level would open the door for a decline to $0.128. This would invalidate the current bullish thesis, potentially signaling the end of the rally and a substantial setback for the token. In short: Downwards! 😫
Cetus Protocol (CETUS)
CETUS price surged by 38% over the past 24 hours, reaching a two-and-a-half-month high of $0.142. This substantial rise indicates strong momentum for the altcoin. At this point, CETUS aims to hold above $0.142, establishing it as a reliable support level for potential further gains. Or, you know, it might not. 🙃
The next major resistance level for CETUS is $0.150, a crucial barrier for the altcoin’s continued upward trajectory. Successfully breaking this resistance will solidify the SUI ecosystem token’s bullish outlook and help the token secure its recent gains. Positive market sentiment and sustained demand will play key roles in this potential breakout. So, you know, luck, really 🍀.
However, if CETUS fails to maintain the $0.142 support level, the altcoin could face a decline toward $0.131. Further losses may push the price down to $0.120, invalidating the current bullish scenario. Which just goes to show, don’t believe everything you read on the internet, especially about crypto! 🤡
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2025-04-23 11:08