Sui (SUI), Near Protocol (NEAR), and Sonic (S) Poised to Lead Altcoin Surge

As Bitcoin (BTC) prepares to break out of its bull flag, the altcoins are jockeying for position, ready to make their own breakouts. $SUI, $NEAR, and $S are among those who have the potential to lead the field.

$SUI breakout imminent

Source: TradingView

$SUI has arguably been the top layer 1 play for this bull run. A massive 1,065% run up in the last quarter of 2024 really put this network on the map as a strong competitor to Ethereum (ETH) and Solana (SOL). However, after such a hot streak, a decent downside period was definitely needed.

As can be seen in the chart above, the price has been falling inside of a descending channel for a period of a few weeks, and is now looking like it might break out, if of course it can also get above the $2.78 horizontal resistance level.

$SUI heading back to $4.30?

Source: TradingView

Zooming out into the weekly time frame it looks as though $SUI is breaking out already, and that it is just coming back to confirm the breakout, plus $2.78 as potential new support.

With a higher low checked off by the bulls, it now remains to be seen whether this next surge can take out the swing high at $4.30. If the Stochastic RSI indicator lines can tick back up, this could provide the upside price momentum that is required.

$NEAR bottoming pattern playing out

Source: TradingView

The $NEAR price is sporting a bottoming pattern. A double-bottom has been made, and now it just remains for the price to break out beyond the descending trendline and the $2.28 resistance.

That said, the size of the task awaiting the $NEAR bulls is akin to scaling Everest. Just getting back to the last big local swing high would be a 4x from here, while the all-time high is around an 8x away. 

Going into a potential final stage of the bull market this much in arrears does not bode well for any cryptocurrency. $NEAR will need to rise, and rise quickly, if it is to remain a going concern beyond this bull market cycle.

$S breaks above descending trendline

Source: TradingView

Having rebranded to Sonic (S) from Fantom (FTM) relatively recently, there isn’t a great deal of previous price action to go on for $S. That said, what there is looks very promising. The breakout of the descending trendline is a good start, with the resistance at $0.33 the next target. At least for the shorter term time frames this could be an interesting play.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.