Trader Says Newly Launched Altcoin About To ‘Open the Gates’ to 70% Rally, Updates Outlook on XRP and SUI

Cryptocurrency trader and analyst Ali Martinez is leaning bullish on an altcoin that’s less than two months old while unveiling his forecast for XRP (XRP) and Sui (SUI).

Martinez tells his 134,300 followers on the social media platform X that the native token of Berachain (BERA), the newly launched crypto project focused on decentralized finance (DeFi), could go up by up to 70% if the altcoin manages to break above a key resistance level.

“Berachain is up 65% in the past two weeks and is now testing the upper boundary of this channel. A breakout here could open the gates to $14!”

Berachain, whose mainnet was launched early last month, is trading at $8.23 at time of writing.

Next up is XRP. According to Martinez, the payments-focused altcoin is currently forming a head-and-shoulders pattern on the daily time frame. A head-and-shoulders pattern is typically considered bearish as it suggests that an asset is unable to sustain its uptrend with a lower high right shoulder.

The analyst, however, says that XRP can flip the outlook to bullish if the altcoin rises by around 38% from the current level and crosses above the $3 resistance level.

Based on the trader’s chart, he seems to suggest that XRP can drop below $1.30 if it takes out support at $2.

XRP is trading $2.18 at time of writing.

Turning to Sui, Martinez says that the native token of the layer-1 blockchain could appreciate by up to 28% from the current level if the bullish momentum the crypto asset has enjoyed in the recent past continues.

“SUI surged 25% after a timely Tom DeMark (TD) Sequential buy signal. If this bullish momentum continues, $2.88 and $3.25 are the next key levels.”

TD Sequential is an indicator used in technical analysis to determine potential trend reversal points.

Sui is trading at $2.53 at the time of writing.

Generated Image: Midjourney