SUI had a nice run, price discovery. While Aptos at 1/2 of ATHs.
SUI also jumped over Aptos in terms of FDV 15b vs Aptos 9.7b.
Aptos had big involvements with FTX maybe that's why sellpressure and underperformance.
In terms of chart:
- ATH - Low --> FIB
1. beautiful retracement to 0.25.
2. bounce to 0.618 got rejected
3. tested 0.5 as support
4. now decision time.
Bull case:
IF this is a big bull flag forming, and breaks out to upside, then target ATHs;
Low time frame: potential head and shoulders, if plays out we revisit bottom of the channel.
IF we go downside, 7.8 - 8$ is where i would start buying.
SUI also jumped over Aptos in terms of FDV 15b vs Aptos 9.7b.
Aptos had big involvements with FTX maybe that's why sellpressure and underperformance.
In terms of chart:
- ATH - Low --> FIB
1. beautiful retracement to 0.25.
2. bounce to 0.618 got rejected
3. tested 0.5 as support
4. now decision time.
Bull case:
IF this is a big bull flag forming, and breaks out to upside, then target ATHs;
Low time frame: potential head and shoulders, if plays out we revisit bottom of the channel.
IF we go downside, 7.8 - 8$ is where i would start buying.