Date: Fri, April 18, 2025 | 05:20 PM GMT
In the cryptocurrency market today, the AI-focused token Bittensor (TAO) is coming into the spotlight with noticeable gains, following a key breakout on the smaller timeframes. Meanwhile, Sui (SUI), the Layer 1 blockchain token, is showing a similar price action setup to what TAO exhibited just before its breakout — sparking curiosity among traders if SUI could be next.
Source: Coinmarketcap
TAO and SUI Analysis
Looking at the charts side-by-side, TAO recently broke out of a falling wedge pattern on the 2-hour timeframe, surging nearly 15% shortly after reclaiming its 50-period moving average. The move was clean, confirmed with strong bullish candles and backed by an uptick in MACD momentum.
Interestingly, SUI is currently mirroring the exact structure that TAO displayed before its rally:
- Downtrend channel / falling wedge: Similar to TAO before breakout
- Testing the 50 MA: SUI price is hovering around its 50-period moving average
- MACD attempting a bullish crossover: Just like TAO showed pre-rally
If SUI follows TAO’s footsteps, a potential breakout from the wedge and 50 MA, could drive its price higher by 15% or more, matching the historical move of TAO. However, it’s important to wait for a clean breakout and retest confirmation above the falling wedge resistance before assuming a similar rally.
For now, traders are keeping a close eye on the SUI chart. If momentum builds, we might witness another strong move similar to TAO’s recent breakout.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
