- Bitcoin is currently retesting the resistance at the 20-day EMA.
- SUI and SOL skyrocketed 7% and 3% in the past 24 hours as BTC touched $97K.
- Grayscale announced the Grayscale Sui Trust, providing clients exposure to SUI.
Bitcoin (BTC) is once again eyeing the $2 trillion valuation, despite stiff resistance at the $100,000 price level. In the past day, the digital asset jumped from $93,000 to $97,000 at the time of publication, trying to reclaim the $100K milestone. With a dominance of above 60%, BTC leads the market, outpacing the altcoin rally.
According to CoinMarketCap data, the nearest resistance for Bitcoin is $97,516, the 20-day Exponential Moving Average (EMA).
While the cryptocurrency tried to push above the resistance, the buying volume wasn’t high enough to put the digital asset on a path above $100,000. The sector leader hit its all-time high over a month ago and has since remained relatively flat.
On the other hand, analyst Ali Martinez highlighted in an X (formerly Twitter) post that the TD Sequential indicator for the Bitcoin price action on the 4-hour chart has shown a sell signal. This means the bears are taking over and investors could soon see Bitcoin drop towards $93,000 in the short term.
Related: XRP Whales Continue Accumulation Spree, 20 Million More Added
Altcoins on the Move: SOL and SUI
SUI and SOL Turn Bullish
Meanwhile, SOL turned bullish, currently trading at $172.03, up 3% in the past day. The digital asset is currently retesting the lower band of the Bollinger Bands which stands at $167.85.
If this support holds, the cryptocurrency could aim for the $200 price tag in the near future, testing the resistance at the $219 upper band.
SUI also jumped a massive 7% in the past 24 hours, trading at $3.35. This surge was a result of digital asset management firm Grayscale announcing the Grayscale Sui Trust which aims to provide customers exposure to the altcoin.
Related: Altcoin Season MIA? Raoul Pal Reveals Crypto Portfolio, Puts Sui Ahead of Solana
Meanwhile, the Relative Strength Index (RSI) reads a value of 43.84 for the SUI price action, which suggests neutral to bearish momentum. However, the upward slope of the line suggests a surge in buying volume.
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