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Cryptocurrency News Articles
These 5 Altcoins (SOL, SEI, SUI, APT, FET) Are Top Contenders for the Next Bull Market
Oct 11, 2024 at 01:02 am
Crypto investors and traders closely monitor current trends in the altcoin market as they anticipate the next bull run. Solana (SOL), Sei (SEI), Sui (SUI), Aptos (APT), and Artificial Superintelligence Alliance (FET) have captured attention with recent developments and promising value propositions.
Solana (SOL), Sei (SEI), Sui (SUI), Aptos (APT), and Artificial Superintelligence Alliance (FET) are among the cryptocurrencies that have grabbed attention with recent developments and promising value propositions. These altcoins are expected to be in the spotlight during the next bull run in the cryptocurrency market.
Solana is a blockchain platform that offers smart contract capability using a Proof-of-Stake (PoS) mechanism. SOL, Solana's native token, is currently ranked fifth by market capitalization, with a valuation of $65.8 billion. Over the past 24 hours, SOL's price has decreased by 1.7%, trading at $140.26.
Solana's price reached a high of $144.04 the day before, stabilizing at the $138 low. Buyer intervention prevented the market from declining further, with the $138 level emerging as a crucial support zone. However, stronger support lies at the $135 level, which may be tested if the bearish trend persists.
To gain positive momentum, SOL must break through the resistance at $144.04. However, further resistance is anticipated in the $146–$148 region.
Sei is one of the biggest success stories of this year, which is why it is in the altcoin spotlight. The Layer-1 network, optimized for decentralized trading, can handle up to 12,500 transactions per second. The altcoin rallied from $0.10 in October last year to just above $1 in March.
SEI has since lost most of its gains and trades at $0.3989, indicating a price drop of 3.7% over the past 24 hours. The price reached a high of $0.4315 before pulling back. It is currently consolidating close to $0.41, which has served as a level of support on multiple occasions.
If it remains above this level, the altcoin could attempt another break above the $0.4315 resistance. On the contrary, a drop below this support could send the price toward the $0.40 range, a crucial psychological and historical support level.
The 24-hour trading volume decreased by 26% to $197 million, suggesting a tempered outlook from investors.
SUI, a Layer-1 blockchain, has seen fluctuations that have impacted its market value in recent weeks. Over the last 24 hours, SUI experienced a 4.18% decline to $1.81. The price traded higher at $1.9758 before seeing a downward movement.
However, the price has found support at the $1.878 level, which has been tested multiple times to indicate buying interest.
The crucial resistance level that SUI faced before the sell-off and failed to cross is $1.9758. If buying pressure picks up, SUI breaking past this level could indicate a fresh uptrend. On the other hand, if SUI fails to hold the $1.878 support, losses could continue.
Aptos's price has seen a sharp decline recently, dropping to $8.22, indicating a 9.9% decrease over the past 24 hours. Trading volume also decreased by 23% within the same timeframe, reaching $246 million, suggesting a decrease in buying interest.
The next key support level for APT is at $8.40. A break below this support level could lead to the next psychological level at $8. However, for Aptos to regain bullish momentum, it must overcome resistance in the $8.90-$9.26 range, which APT has failed to hold in the past.
Artificial Superintelligence Alliance is in the spotlight for being a token that represents a collective of projects and initiatives focused on advancing artificial intelligence (AI) technology. FET, which serves as the native token for the Filecoin network, is currently valued at $1.34, showing a decline of 3.4% in the past day.
However, trading volume increased by 4.3% in the last 24 hours to $170 million. FET recently peaked at $1.44 before pulling back to current levels. It is consolidating near $1.35, which serves as an anchor for immediate support.
If it fails to hold this support, the token could fall back to $1.33. The price would need to break through $1.40 to regain bullish momentum before challenging the key resistance zone around $1.44-$1.45.
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