Macro guru Raoul Pal says layer-1 blockchain Sui (SUI) is getting ready for a new phase of outperformance despite its recent consolidation.
On the social media platform X, Pal shares with his 1.2 million followers a chart suggesting that SUI has neared the bottom of a descending channel, and is finding support somewhere near the $2 level.
“For those of you in Sui, these are my chart reads…
Shorter term…”
And zooming out, based on another chart, Pal sees SUI trading within a large triangle pattern, hinting at bullish continuation.
“Longer term…”
Says Pal,
“My view is that as BTC breaks ATHs (all-time highs), [SUI] begins to outperform again and will remain in the top five majors in performance in this cycle.
Patience! Greed, desperation or FOMO (fear of missing out) never works…”
At time of writing, SUI is worth $2.82.
The investor recently said that the trend in the global money supply metric (M2) suggests that Bitcoin (BTC) could go up by around 29% from the current level.
“But at this point, it’s [the price of Bitcoin] really driven by liquidity. It gave us a three-month heads up to exactly the correction [of around $75,000 in April]. And yet Twitter said it’s about tariffs, it’s about the end of the world. It told you, it is telling you, and told you it would be at all-time highs. I told you it would be at all-time highs by May. It tells you we should be over $140,000 by July.”
Follow us on X, Facebook and Telegram
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
