Date: Thu, April 24, 2025 | 08:05 AM GMT
In the cryptocurrency market, after facing a continuous decline since the start of this year, the market is finally starting to show signs of upside momentum. Bitcoin (BTC) has surged by 8% and Ethereum (ETH) by 9% over the last 7 days, reigniting positive sentiment across altcoins .
Among the altcoins, Sui (SUI) — the layer-1 token — has captured attention with a strong 44% weekly rally backed by multiple technical breakouts. Meanwhile, Ondo (ONDO), one of the leading tokens in the Real World Asset (RWA) sector, has also flipped bullish and appears to be tracing a very similar recovery path.
Source: Coinmarketcap Sui (SUI) and Ondo (ONDO) Analysis
As shown in the chart on the left, SUI broke out of a falling wedge pattern—a structure typically considered bullish and indicative of a reversal. The breakout was followed by a clean retest and a strong push above both the 50-day moving average (MA) and the 100-day MA, which had served as major resistance during its downtrend.
This successful breakout from the “blue zone” resistance (highlighted in the chart) triggered a sharp move, lifting SUI to $3.03, up 28% from the breakout level. The next significant resistance lies near $3.73, where bulls may face some hesitation.
On the right side, ONDO appears to be mirroring this same setup. It too broke out of a falling wedge on April 12, successfully retested the pattern, and has now cleared its 50-day MA. ONDO is currently challenging its own “blue zone” resistance at $0.9570, almost identical to the level where SUI started its major breakout.
If ONDO breaks through this zone decisively, it could aim for the 100-day MA and $1.23 level—representing a 42% upside from its current price around $0.89.
What’s Ahead?
While SUI has already delivered an impressive post-breakout rally, all eyes are now on ONDO to see if it can replicate the same move. The setup is certainly encouraging—both the MACD indicators are turning bullish, and volume is beginning to support the trend.
With the broader market regaining momentum and risk appetite improving, a successful breakout by ONDO could open the doors for a strong upside continuation, especially if it aligns with Bitcoin and Ethereum holding their recent gains.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
