After consolidating in the past five weeks, crypto assets with notable development activity have shown early signs of a fresh bullish uproar. Led by Bitcoin (BTC), which is bolstered by heightened demand from spot BTC ETFs in Hong Kong and the United States, most crypto assets have established a reversal pattern.
Moreover, Bitcoin price closed last week on a bullish note similar to the past 20-30 percent market corrections.
Altseason on the Horizon
With more than 12k altcoins awaiting the parabolic bull market ahead, the total altcoin market cap has stabilized at around $1 trillion in the past few weeks. Having risen more than double from the bear market bottoms, the altcoin market cap is well primed to retest the all-time high (ATH) in the near term.
Furthermore, Bitcoin dominance has been forming a reversal pattern as the ETH/BTC pair attempts to rebound from the multi-year low.
Midterm Targets for BNB and SUI
In the layer-one (L1) crypto categories, BNB and SUI are some of the highly undervalued projects with immense bullish potential. Moreover, both projects have a vibrant web3 ecosystem amid the mass adoption of digital assets.
BNB
According to a popular crypto analyst alias Captain Faibik, BNB’s price is on the verge of a 40 percent uproar in case of a bullish breakout. With BNB price hovering around $592 on Tuesday, the crypto analyst believes the altcoin will reach at least $840 soon.
Sui
Sui (SUI) is a fast-growing layer one project backed by former Meta’s blockchain research team and with more than $642 million in total value locked. According to a renowned analyst alias Crypto Patel, the midcap altcoin, with a fully diluted valuation of about $11 billion has been forming a bullish pattern.
The crypto analyst expects the SUI price to more than double in Baku if the altcoin consistently closes above $1.15 in the coming weeks.
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