In the midst of current fluctuations in the cryptocurrency market, two main coins stand out: Sui (SUI), showing bullish dynamics, and Stellar (XLM), under pressure. Also noteworthy is the new project BlockDAG.
Growth Prospects of Sui (SUI)
Following the filing for an exchange-traded fund (ETF) by Nasdaq and 21Shares on June 11, Sui (SUI) exhibited a sharp increase. Technical indicators signal positive changes, including EMA crossovers and an increase in Chaikin money flow. Prices for SUI reached $3.55 with high trading volume. The next target levels could be $4.51 and even $5 if the bullish trend persists. However, risks are present, as a 13% drop highlighted the potential for quick corrections, especially if support at $3.00 is lost.
Challenges and Uncertainty of Stellar (XLM)
Market analysis indicates that Stellar (XLM) faces difficulties, losing 14% this month and struggling to stay above $0.26. The formation of a 'death cross' and negative pressure as observed by ADX highlight a tough situation. The current RSI at 32.6 indicates oversold conditions. The key support level to hold is $0.2555, otherwise, the price could drop to $0.22. In the short term, a reversal could occur if the 50-day moving average breaks.
BlockDAG's Promotional Strategy
BlockDAG demonstrates a unique approach to launching. This project has already secured everything needed before trading begins, raising $600 million in pre-sale. The project has secured liquidity for 20 exchanges and prepared the mining infrastructure. With 2 million mobile miners and a live testnet, BlockDAG plans to launch with significant volume and utility, which may set it apart from other new projects.
The dynamics of Sui (SUI) could continue to rise if the $3.55 level is successfully breached, while Stellar (XLM) needs significant changes to avoid further declines. On the contrary, BlockDAG has already prepared the necessary resources for launch and could become an interesting option for investors.
