- Aptos has surged over 20% since October 1.
- Sui maintained a bullish sentiment despite an overall crypto market decline.
- APT and SUI sustain bullish movements amid the declining crypto market.
Aptos (APT), the native token of the Layer 1 blockchain designed for smart contract development, has jumped over 20% since October 1, outperforming most altcoins. SUI, another blockchain token used for smart contract development, has also shown bullish momentum despite a general crypto market decline.
Specifically, APT rebounded from a September-ending pullback, bouncing off support at a $7.25 low on October 1 to reach $8.73 on October 3rd. APT’s rebound signaled a continued upward trend that began in mid-September.
TradingView’s data shows APT began a bullish rally from September 16 after retesting the $5.66 support level. The Layer 1 blockchain token surged 53%, reaching an $8.63 monthly high before its latest pullback. However, Thursday’s rebound suggests APT may continue climbing, given its bullish momentum, which pushed it above last month’s high.
SUI Shows Strength Despite Recent Dip
Although SUI outperformed APT in September, APT has taken the lead in the new month. Despite recovering from an October 1 decline, SUI faced severe downward pressure on Thursday, falling 20% after reaching a $2.0092 high. However, the altcoin’s behavior early Friday suggests the pullback may be temporary, as SUI has rebounded from Thursday’s $1.6055 low to trade for $1.6983 at the time of writing, according to TradingView data.
It is important to note that SUI’s bullish momentum stems from a prolonged rally that started at the beginning of September when the token rebounded from support at $0.7415 on September 2. Since then, the relatively new altcoin has gained about 170%.
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Meanwhile, the crypto market is facing some bearish pressure, with Bitcoin, the leading cryptocurrency, down about 10% since the beginning of October. Ethereum, the second largest cryptocurrency, has lost nearly 15% of its value in the new month, dropping from a $2,729 September high to $2,309 on Thursday.
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