The crypto market experienced a major pullback during the weekend, which slashed the prices of the major tokens. Meanwhile, the prices of most of the memecoins are facing extreme bearish heat, due to which they are feared to reach their respective support levels. Moreover, a series of events are lined up for the week, which may make the crypto markets highly volatile in the coming days.
The upcoming week is filled with events that could potentially shake the Bitcoin price and the entire market. The US. PPI inflation is scheduled to be released on Tuesday, while the CPI day could be on Wednesday. Initial jobless claims may be let out on Thursday and U.S. retail sales on Friday. If the CPI data comes out higher than expected, then it may be bearish for Bitcoin, while a rise in jobless claims, U.S. retail sales, etc. may place the BTC price in an alarming situation.
Other than Bitcoin & Ethereum, SUI, Helium, and Aptos are displaying significant strength and hence are believed to maintain a healthy upswing ahead.
Sui (SUI) Price Analysis
- The SUI price has maintained a steep bearish trend within a declining parallel channel, which was broken during the last price action
- In spite of a retracement, the SUI price maintained a steep upward trend, which has revived the possibility of a minor bull run
- One leg up above the interim resistance at $1.2 or the 200-day EA may validate a rise above the bearish influence, which may further maintain a steep upswing to reach the curial resistance at $1.44
- The bears are expected to enter at frequent intervals, which may hinder progress if the rally lasts for a while but the bulls may hold the rally in the event of excessive drain.
- However, the OBV has triggered a bullish rebound, which has kept the bullish moment alive
Helium (HNT) Price Analysis
- The HNT price triggered a huge upswing but failed to surpass the crucial resistance zone between $6.85 and $6.93
- Although the bears tried their level best to slash the price lower, the bulls held the rally strong and triggered a strong rebound
- Meanwhile, the supertrend continues to remain bullish regardless of the interim bearish action, which indicates the trend may remain elevated
- Besides, the RSI, which rebounded from average levels, has triggered another bullish rebound after interim rejection
- Therefore, the HNT price continues to remain under bullish influence and is expected to breach the resistance zone and raise above $7.3 to reach $7.5
Aptos (APT) Price Analysis
- The Aptos price has been trading finely within a descending parallel channel but is displaying bullish possibilities
- The price has rebounded from the lower support a couple of times, which shows the growing strength among the bulls
- Besides, the Bollinger bands have begun to squeeze as both the levels of resistance and support are approaching close to each other
- Secondly, the DMI is close to triggering a bullish crossover, which may maintain a decent upswing until it reaches the upper resistance of the channel
- To do so, the Aptos price is required to rise above the local resistance at $7.7, which may propel the token towards a double-digit figure
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