Altcoins Poised for a Strong Upswing: SUI, ONDO, and HNT Prices May Maintian a Strong Ascending Trend

The post Altcoins Poised for a Strong Upswing: SUI, ONDO, and HNT Prices May Maintian a Strong Ascending Trend appeared first on Coinpedia Fintech News

The crypto markets have shown a huge disparity in recent times as the major tokens are fluctuating within a narrow range. The bulls are failing to elevate the levels, while the bears are waiting for the right time to enter. With this, the top tokens have maintained a horizontal consolidation but some of the other altcoins have been witnessing a notable rise in their strength. 

Sui (SUI) Price Analysis

• SUI price has been training within a descending parallel channel for quite a while. The recent upswing has helped the price to rise above the resistance

• The RSI is elevated which suggests the price may continue to maintain an ascending trend ahead and reclaim $1 anytime from now

• However, the MACD displays a rise in buying pressure, which may keep up the momentum throughout the weekend

• After reaching $1, the token may experience some bearish pullback but the resistance of the channel may offer a strong base to trigger a rebound and maintain a steep ascending trend

Ondo (ONDO) Price Analysis

• The recent pullback has caused the ONDO price to drop below the ascending trend line that acted as a strong base over the past few months

• Despite this, the price rebounded quickly after plunging below the 0.38 FIB level and appears to be poised to rise above 0.5 FIB at $0.836

• The volume remains in the bullish favour and hence the price is expected to sustain above the gains

• Once, the bulls revive a fine rise above 0.5 FIB, reclaiming $1 may not be a tedious job for the Ondo price rally

Helium (HNT) Price Analysis

• The HNT price has broken the bull flag during the recent upswing which has elevated the levels to the upper resistance zone between $6.8 and $6.9

• The token failed to surpass these levels which has elevated the bearish pressure but the bulls are offering a strong base which has held the rally close to the resistance

• The RSI has undergone a bearish divergence after reaching the upper threshold, which may cause the levels to face some pullback

• This could cause the levels to drain slightly close to $6 which could trigger a rebound back to $7 which may keep up the trend above $7.5