The recent surge in Bitcoin to six-digit levels has had a positive impact on the market, although altcoins are facing certain challenges. Analyst Ali Martinez shared his observations on Solana (SOL), SUI, and Sonic (S Coin).
Solana (SOL): Approaching a Pivotal Breakout
Martinez noted that Solana is currently testing a key resistance level. While there is recent bullish pressure, traders need to decisively break above $188 for significant gains to materialize.
"This is a key resistance area for Solana. A breakout here could trigger a fresh bull run."
If SOL manages to close above $188, analysts expect that $203 to $205 could flip into new support, clearing the path toward retesting its all-time highs.
SUI: Bearish Signal Flashing
In contrast, the outlook for SUI appears less optimistic in the short term. Martinez pointed to the TD Sequential indicator on the 3-day chart, which has flashed a sell signal.
"SUI looks ready for a retracement as TD Sequential prints a bearish setup."
Failure to hold the $3.53 support could open the door for a correction toward $3.02 and $2.71, offering new accumulation opportunities for longer-term investors.
Sonic (S Coin): Will $0.50 Hold?
Sonic, a rising name in the DeFi space, is struggling to maintain support at $0.50. According to Martinez, if this level fails to hold, the next stop could be as low as $0.40.
While Sonic has garnered attention due to its growing ecosystem, this technical breakdown suggests traders should brace for potential near-term volatility.
With the current stability of Bitcoin and the challenges faced by altcoins, the future of these assets remains uncertain. Market watchers continue to monitor important upcoming catalysts that may influence dynamics in the coming weeks.
