Algo Avax Sui Show Bullish Technical Setups Amid Market Optimism

Algorand (ALGO), Avalanche (AVAX), and Sui (SUI) have emerged as key altcoins to watch this week due to favorable technical formations and price action that suggest potential reversals. Traders and analysts are closely monitoring these assets for signs of continued upward momentum.

Algorand (ALGO) recently broke out of a double bottom pattern with a neckline around $0.26 and an accumulation base at $0.15–$0.16. The price surged to $0.34, reaching nearly 90% of the measured move target. After a pullback to $0.22, ALGO has rebounded back to the $0.26–$0.27 range. A clean close above $0.27 could signal further strength and potentially lead to a retest of $0.34 or even a higher high by the end of the week [1].

Avalanche (AVAX) has formed a textbook double bottom but has yet to break above its $27 neckline. The coin has tested this level twice, forming a mini double top before retreating to the $21 area, where the 50-day SMA provided support. AVAX is currently rebounding and testing the 20-day EMA, with a bullish crossover still in place. A retest of the $27 neckline is expected, and a successful breakout with strong volume could indicate a reversal within the coming week [2].

Sui (SUI) has broken above the 20-day EMA and is currently trading at $3.83. The bullish crossover between the 20-day EMA and 50-day SMA remains intact, and the price recently crossed the 7-day EMA on an 8%+ candle. While the 7-day EMA is still below the 20-day EMA, it appears poised to cross above it soon, stacking moving averages in a bullish formation. This technical setup reduces the risk of a bearish double top and increases the likelihood of SUI testing the $4.30–$4.40 resistance zone [3].

Collectively, ALGO, AVAX, and SUI are seen as potential indicators of broader market sentiment. Their technical formations—ranging from double bottoms to bullish moving average setups—suggest that a reversal or breakout could be imminent. Analysts are closely watching these coins for confirmation of upward momentum and potential follow-through in the coming days [4].

The broader cryptocurrency market has also been influenced by macroeconomic expectations, including speculation about a potential U.S. executive order allowing retirement funds to invest in cryptocurrencies and the possibility of Federal Reserve interest rate cuts. These factors have contributed to a general sense of optimism in the crypto space, with Bitcoin and several altcoins experiencing recent gains. While the performance of major coins has drawn attention, the movements of ALGO, AVAX, and SUI are being interpreted as early signals of market direction [5].

As the week progresses, the price actions of these three assets will likely be scrutinized by both retail and institutional traders. A successful breakout or continued consolidation above key levels could serve as a catalyst for broader market optimism or caution, depending on the outcome.

Source: [1] CoinMarketCap (https://coinmarketcap.com/community/articles/6895afa8b5054d1755f6fda0/)

[2] TradingView (https://www.tradingview.com/u/HexaTrades/)

[3] Medium (https://medium.com/@blendvisions/5-altcoins-to-watch-how-to-spot-the-next-big-crypto-pump-d3a3dc193c40)

[4] Crypto News (https://crypto.news/crypto-coins-to-watch-for-potential-reversal-in-the-coming-week-algo-avax-sui/)

[5] Binance (https://www.binance.com/square/post/28008288133290)