Top Analyst Sees Bright Horizon for SUI; Urges Calculated Patience for Injective (INJ) – Here’s His Outlook
Top crypto analyst Crypto Tony has shared his insights on the potential trajectories of two digital assets, SUI and INJ. His comprehensive chart analysis highlights market patterns, support/resistance levels, and candlestick formations, offering guidance to traders and investors.
What you'll learn 👉
SUI’s “Double Bottom” Reversal Pattern
In his analysis of the SUI/USD pair, Crypto Tony’s keen eye identified a notable “W” shaped recovery pattern, which he believes could be forming a bullish “Double Bottom” reversal. This technical formation often signals a shift from a bearish to a bullish trend, as the price makes two distinct lows at roughly the same level before potentially reversing course.
Highlighting a critical horizontal line on the chart, Crypto Tony explained that this level has acted as resistance in the past but could now transition into a crucial support zone. “Unless we lose $0.90c, I remain in my long-term position,” he stated, underscoring his conviction in SUI’s bullish potential as long as the price holds above this pivotal level.
Moreover, Crypto Tony observed that after testing this resistance-turned-support level, the price surged higher but has since experienced a pullback. However, he views this pattern as a potential indication of changing investor sentiment, with the bears gradually giving way to bulls, potentially setting the stage for a shift in the medium-term trend.
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Show more +INJ Token: Building a Solid Base for Future Growth
Turning his analytical lens to the INJ/USD pair, Crypto Tony examined the weekly chart of the Injective (INJ) token. His analysis revealed a high degree of volatility, with large price swings evident from the extended wicks on the candlesticks.
While the latest candlesticks displayed a bearish downtrend, Crypto Tony identified a potential support level around the $20 mark, where buyers have previously stepped in. However, his advice for INJ was clear: “Build a base above $19.00 would be ideal over the next few months. Do not rush into a new position.”
This statement underscores Crypto Tony’s belief that INJ needs to establish a solid base above the $19.00 level before considering new long positions. He cautions against hastily entering new positions until this crucial base is formed, emphasizing the importance of patience and strategic market timing.
Overall, Crypto Tony’s analysis provides valuable insights into the potential future movements of the SUI and INJ tokens, offering guidance to traders and investors.
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