Author: Benjamin Lee

SUI is currently priced above $3, rallying higher following a descending wedge breakout. An ascending triangle pattern on the 4-hour chart signals bullish flip. However, while MACD suggests buyers are in control, the RSI is near overbought territory. Sui (SUI) has surged to the critical $3 resistance level, breaking above it amid double-digit gains in the past 24 hours. CoinGecko data shows SUI price trading more than 11% up in this period, with a notable 102% spike in trading volume that hovered around $1.28 billion. The price gains to intraday highs of $3.05 put the altcoin above a key supply…

U.S. Treasury Secretary Scott Bessent is confident that people around the world are going to choose stablecoins over central bank digital currencies (CBDCs). In a new interview with Bloomberg, Bessent says the stablecoin sector creates an “exciting new payment rail.” “And importantly, it will be a source of demand for the US Treasury market, because if you think about it, in terms of preference globally, would you rather have a private stablecoin that’s backed by US Treasuries with US best practices and regulation, or would you rather have an [European Central Bank] or [People’s Bank of China] central bank digital…

An analyst known for being crowned as a “Master Trader” on the crypto exchange Bybit believes that a huge upside move is in sight for one Solana (SOL) rival. Pseudonymous analyst Bluntz tells his 321,600 followers on the social media platform X that the native asset of the layer-1 protocol Sui (SUI) is in the midst of a new five-wave rally after completing an ABC correction. The trader utilizes the Elliott Wave theory in his technical analysis. The theory states that a bullish asset tends to witness a five-wave surge after completing an ABC pullback. Says Bluntz, “A lot of…

An analyst known for attaining the “Master Trader” rank on the crypto exchange Bybit believes that rallies are in sight for Solana (SOL). Pseudonymous analyst Bluntz tells his 321,400 followers on the social media platform X that he’s now bullish on the native asset of the layer-1 protocol after moving above a diagonal resistance that has kept SOL bearish since late May. The trader thinks that Solana and other coins operating on its network will witness rallies this week, at the very least. “Nice downtrend break on SOL overnight, I think we’re in for a good week [this] week. SOL…

Macro guru Raoul Pal says layer-1 blockchain Sui (SUI) is getting ready for a new phase of outperformance despite its recent consolidation. On the social media platform X, Pal shares with his 1.2 million followers a chart suggesting that SUI has neared the bottom of a descending channel, and is finding support somewhere near the $2 level. “For those of you in Sui, these are my chart reads… Shorter term…” Source: Raoul Pal/X And zooming out, based on another chart, Pal sees SUI trading within a large triangle pattern, hinting at bullish continuation. “Longer term…” Source: Raoul Pal/X Says Pal,…

The influential financial advisor who wrote the 2021 book “The Truth about Crypto” is reportedly increasing his recommended investment allocation for crypto. CNBC reports that Ric Edelman, who previously said that allocating as much as 1% to crypto was reasonable, is now saying that financial advisors should recommend allocating between 10% and 40% to digital assets.  Says Edelman in an interview with CNBC’s Crypto World,  “Today I am saying 40%, that’s astonishing. No one has ever said such a thing.” The founder of the Digital Assets Council of Financial Professionals is now more bullish on crypto assets amid the massive…

A crypto analyst gaining traction for timely Bitcoin calls is outlining a scenario where BTC breaks free from sideways trading and surges to new all-time highs. Pseudonymous analyst Credible tells his 468,700 followers on the social media platform X that Bitcoin appears to be following an Elliott Wave (EW) pattern where BTC consolidates in the next few weeks before igniting a breakout rally toward the end of July. Elliott Wave theory is an advanced form of technical analysis that seeks to forecast future price movements by tracking crowd psychology, which often unfolds in recurring wave patterns. Says Credible, “BTC holding…

A closely followed crypto analyst is predicting a historic rally for altcoin markets based on an unprecedented technical setup. The pseudonymous analyst known as TechDev shares a chart with his 532,000 followers on the social media platform X showing the price action of TOTAL2 – which tracks the total market cap of crypto assets excluding Bitcoin (BTC) and stablecoins – with a Bollinger Band indicator. Bollinger Bands are a technical analysis tool used to assess price volatility and identify potential breakout or mean-reversion opportunities. When the bands are close together, it suggests that volatility is historically low and the asset…

A closely followed crypto analyst says that once a key Bitcoin (BTC) metric reverses, altcoins may print explosive rallies. Crypto trader Rekt Capital tells his 549,600 followers on the social media platform X that the Bitcoin dominance (BTC.D) metric may enter a downward phase after hitting a historic peak level, setting the stage for alts to outperform the flagship crypto asset. “BTC dominance: if history repeats, the real altseason everybody is waiting for would begin once Bitcoin dominance rejects from 71% (red).” Source: Rekt Capital/X BTC.D is a metric that calculates how much of the crypto market cap belongs to…

Payments giant Mastercard has tapped Chainlink (LINK) to connect off-chain payments to on-chain decentralized finance (DeFi). According to a new press release, the partnership will use top decentralized exchange Uniswap and work closely with crypto firms Zero Hash, Swapper Finance, Shift4Payments, and XSwap. Swapper Finance uses XSwap – a decentralized exchange built on Chainlink – for on-chain crypto swaps. Through integrations with Zero Hash and Shift4, users can convert fiat to crypto safely and process card payments. ZeroHash handles compliance and custody, while XSwap taps into platforms like Uniswap to complete trades with available liquidity. The partnership will allow Mastercard…