Crypto Analyst Rekt Capital Says Solana (SOL) Rival Sui Network (SUI) Is Gearing Up for Its Next Move

In a new strategy session, crypto trader Rekt Capital tells his 533,400 followers on the social media platform X that layer-1 blockchain Sui Network (SUI) is consolidating below its all-time high as it gains support from prominent crypto wallet Phantom.

Cryptocurrency technical analyst Rekt Capital (鏈接至外部網站) has updated his outlook on Bitcoin (BTC) and provided his assessment of a smart contract platform that he believes is preparing for its next advance.

In his latest video update, Rekt Capital told his 533,400 followers on X that Sui Network (SUI) is still trading within a narrow range as it gathers support from Phantom, a leading crypto wallet.

“SUI. Still consolidating below all-time highs, biding its time before its next move. As for fundamentals, Phantom is live with SUI to over 15 million monthly active users. More, SUI has partnered with SatLayer and Babylon BTC Staking in an effort to push into BTC DeFi this Q1.”

At the time of writing, SUI is trading at $4.14, up 12.5% over the last 24 hours.

Next, Rekt Capital shifted his attention to Bitcoin, noting that the apex crypto has already achieved a retest of a key resistance zone. However, Rekt Capital highlighted the importance of a daily close above $106,000 to confirm a breakout from the zone.

“Bitcoin has successfully broken out to revisit the range high resistance (red). Now, Bitcoin needs a daily close above the range high of $106,000 to breakout from the range overall (orange circle).”

According to the technical analyst, a daily close above the zone is crucial as the top-ranked crypto asset has experienced false breakouts in the past, likely driven by FOMO among traders.

“BTC needs a daily close above the top of this light blue pattern to position itself for a pattern breakout and thus for a challenge to revisit the range high daily close above the diagonal is essential, as before BTC has produced upside FOMO wicks which have preceded rejections.”

At the time of writing, BTC is changing hands at $105,744, up 3.7% over the last 24 hours.