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Top crypto analyst The Flow Horse has suggested that the Layer 1 Blockchain competitor Sui (SUI) is in the early stages of an uptrend. The analyst also mentioned an expectation of a rise in Chainflip (FLIP).
Altcoins on the Analyst’s Watchlist Expected to Rise
The anonymous crypto analyst The Flow Horse shared on social media platform X (formerly known as Twitter) that the native asset of Layer 1 Blockchain Sui, SUI, appeared to have ended its downward trend after exiting a rolling bottom formation. The analyst commented on the rise of SUI, “It looks like SUI’s uptrend is just beginning. It has been on my list for the last six months with a rolling bottom formation that emerged and reached significant volume levels.”
The analyst then drew attention to Solana’s SOL, the smart contract platform he started to accumulate after its price dropped to $52.21. Commenting on the popular altcoin, The Flow Horse stated, “So SOL is definitely rising. It’s in a very bullish correction and is being heavily bought in the spot market despite the correction.”
After SUI and SOL, The Flow Horse commented on the third altcoin on his watchlist, Chainflip. The analyst mentioned the native asset of Chainflip, an automated market maker (AMM) aimed at providing users with low slippage for native cross-chain swaps, FLIP, predicting it could continue to rally as it gets listed on more crypto exchanges:
I bought some FLIP. There isn’t a legal futures market open yet, just a few spot listings. I can see it shooting up sharply as it gets listed in more places.
Predicting Tough Times Ahead for Bitcoin
Lastly, looking at Bitcoin (BTC), The Flow Horse commented that the crypto king’s rise last week to the year’s highest level of $38,189 seemed somewhat unsustainable. According to the analyst, investors have been selling their altcoins to not miss out on BTC’s rise and to profit from it, which has fueled the surge:
Bitcoin rose last week despite altcoins. We more or less expect this kind of behavior at major turning points because no one wants to miss out on the opportunity in BTC. It will be quite challenging to push BTC above $40,000 with this kind of fuel and keep it there.
