As Ethereum faces increasing challenges, Sui's stunning rebound is particularly eye-catching. Analyst Bluntz stressed that Ethereum's competitors have shown signs of maturity, indicating that a strong price increase may be coming.
Bluntz pointed out that through the three-day chart, the NEAR project has successfully broken through the diagonal resistance of the wedge-shaped decline pattern. This technical pattern is usually regarded as a positive signal that the market is about to reverse, indicating that the buyer's power is increasing, effectively slowing the downward trend of asset prices.
Further analysis shows that NEAR's breakthrough seems to echo the strong trend of Sui, another popular layer 1 protocol, which has achieved a stunning increase of about 120% this month. Bluntz optimistically stated: "NEAR has finally ushered in the long-awaited channel breakthrough, which is often a clear signal that the market is about to usher in a large fluctuation." Currently, NEAR is trading at about $5.38 and has recorded an increase of more than 5% in the past 24 hours.
In addition, Bluntz also expressed optimism about several other crypto assets, especially SOL and WIF. The chart he shared showed that WIF has successfully broken through the key resistance level for several months, indicating potential upward momentum. He humorously reminded investors: "Fasten your seat belts, the second wave of climax is coming!"
In short, the insights of this senior analyst provide investors with valuable market insights and remind everyone not to miss every exciting beat in the crypto market.
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