Despite the volatility often encountered in the cryptocurrency world, some analysts’ predictive abilities and market knowledge can guide investors. In this context, The Flow Horse, a closely followed crypto analyst, expressed his bullish expectations for Solana’s rival Sui Network, which has made huge gains recently.
The Flow Horse notes that Sui Network, a layer-1 blockchain, will remain in an uptrend if it maintains a significant support level. Additionally, the analyst shares details of a major unlock event that will take place early next month, citing data from cryptorank.io. Token unlocks may occasionally result in price corrections as it creates a new supply of tradable tokens. However, The Flow Horse believes that in this case, the market will easily absorb the new tokens and SUI will continue to rise.
“As long as it maintains $1.30, SUI is still on the rise. In both cases, a reasonable unlock will occur within a month, which will lead to hedging pressure resulting in a buyback. “I think it will go much higher.”
However, SUI is not the only altcoin followed by the analyst. The Flow Horse is bearish against Monero (XMR), the largest privacy-focused cryptocurrency on the market, and other similar projects. The analyst’s comments came shortly after Binance, the world’s largest crypto exchange, announced that it would end support for the altcoin.
“Chains of secrecy don’t stand a chance, and every path to them is a trap. If you don’t think so, you are a utopian… To be frank, I think privacy is a right, but my views are unrealistic.”
Finally, the analyst evaluating Bitcoin says that it is possible that BTC will not see a significant price correction in the halving event in April, as in other cycles.
At the time of writing, Bitcoin is trading at $43,536, with a slight increase in the last 24 hours.
You can follow the current price movement here.
