Altcoins Surge: Sui Leads 8% Rally, Aptos and Theta Eye Recovery

Several altcoins, including Sui ($SUI), Aptos ($APT), and Theta Network ($THETA), have experienced significant price increases, with gains of over 5% observed on Monday. This recent uptick has raised questions about the potential for a broader trend reversal or whether this is merely a temporary respite before the downward trajectory resumes.

Sui ($SUI) emerged as the standout performer among top altcoins on Monday, climbing 8%. The weekly chart indicates that last week's dip below $2.40 touched a key support line, suggesting that the downtrend might have run its course. The Stochastic RSI at the chart's base suggests a potential bottom, and if the indicator surpasses the 20.00 mark, $SUI might gain the upward momentum needed to return to its peak of $5.35.

Aptos ($APT) faces a steeper climb, with a series of descending highs pushing the price lower. While the macro outlook for $APT is not promising, there is a chance that it may have found a bottom at the critical $5.00 support level. The chart outlines potential upward targets, derived from Fibonacci levels, indicating that the initial steps have been taken to break past the last lower high.

The Theta Network ($THETA) weekly chart presents a more challenging picture, with a significant 92% drop from its all-time high. While the current local downtrend might turn around, reaching the next lower high at $2.20 requires more than a 60% increase from the current levels. The Stochastic RSI is bottoming out, indicating potential upward momentum. Breaking past the previous high of $3.35 is essential for $THETA to avoid another detrimental lower high.