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Altcoins See at Least 30% Surge Last Week: Top 5 Winners

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In the last seven days, several altcoins have surged impressively, each recording notable gains not seen in a long while. This remarkable uptrend highlights a shift in market sentiment and the potential for lucrative opportunities from the cryptocurrencies listed in the top 100.

While many of these altcoins saw increased demand, this analysis focuses on the top five that stood out, registering at least 30% price increases — Bittensor (TAO), Immutable (IMX), Sui (SUI), Sei (SEI), and Aptos (APT).

Bittensor (TAO)

TAO, the native token of Bittensor, a blockchain-based machine learning network, has risen by 95% in the past week. This incredible performance makes the AI-themed token one of the highest-gaining altcoins in the past week. 

TAO’s price increase is linked to an all-inclusive rally in AI-based cryptocurrency. Some of the major catalysts could also be connected to the Grayscale TAO trust and several recent developments in artificial intelligence sector.

From a technical point of view, the daily chart revealed that the cryptocurrency had formed an inverse head-and-shoulder pattern earlier. This bullish pattern was crucial in helping TAO sustain the $298.07 support and bounce above the $349.75 resistance.

Bittensor Daily Price Analysis.
Bittensor Daily Price Analysis. Source: TradingView

Currently, TAO is priced at nearly $570, but the Relative Strength Index (RSI) signals it is overbought with a reading above 70. This could lead to a retracement to $484.13 as holders may take profits.

However, the Moving Average Convergence Divergence (MACD) remains positive, showing continued bullish momentum. If this trend persists, it could prevent a pullback. In that case, TAO’s price might rally toward $700 instead of declining.

Immutable (IMX)

Immutable (IMX), known as the first Layer-2 scaling solution on Ethereum (ETH), ranks second among altcoins with over a 30% gain in the past week.

IMX saw a price increase of 43% during this period but hit resistance at $1.80, leading to a retracement to $1.75, its current trading price. The Bull Bear Power (BBP) on the daily chart indicates that bulls are prepared to push IMX higher once again.

Read more: 10 Best Altcoin Exchanges In 2024

Immutable Daily Price Analysis.
Immutable Daily Price Analysis. Source: TradingView

If validated, the cryptocurrency’s value could rally to $1.95. However, Immutable is scheduled to unlock 32.47 million tokens on October 4. This projected supply shock could halt IMX’s anticipated hike. If that is the case, IMX’s price could decline to $1.55.

Sui (SUI)

SUI, the native cryptocurrency of the layer-1 blockchain, has not only performed well over the past week but has also been one of the altcoins with a staggering 30-day performance.

In the last seven days, SUI’s price has increased by 40% and is currently $1.55. Meanwhile, the daily SUI/USD chart flashes a rise in the Money Flow Index (MFI). This hike indicates a surge in buying pressure. However, the MFI can also tell when a crypto is overbought or oversold. 

Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

Sui Daily Price Analysis
Sui Daily Price Analysis. Source: TradingView

Readings below 20.00 means it is oversold. However, at press time, the reading is above 80.00, indicating that SUI is overbought. Thus, the token could experience a drawdown to $1.37 as it faces resistance at $1.59.

Alternatively, if bulls continue to show strength, SUI’s price could break above the resistance. If that happens, the altcoin could jump to $1.88 and eventually hit the $2 mark.

Sei (SEI)

Knows as one of the fastest Layer-1 blockchains, Sei’s native token is one of the altcoins that has increased by more than 30%. Currently trading at $0.36, SEI formed an ascending triangle on the daily chart between August 26 and September 17. Eventually, the token broke above the triangle, validating a price increase, which helped SEI climb by 33%.

A look at the daily chart revealed that the Awesome Oscillator (AO) flashed rising green histogram bars. This rise indicates increasing upward momentum for SEI, possibly leading to a $0.42 in the short term.

Sei Altcoins Daily Price Analysis.
Sei Daily Price Analysis. Source: TradingView

However, traders need to be cautious as bears could tug the price back. If that happens, SEI’s price might decline to $0.31.

Aptos (APT)

Another Layer-1 project that has performed significantly in the past week is Aptos (APT). In the last seven days, its price has increased by 32%. While the price initially dropped by 22%, technical analysis shows that a golden cross was vital to the token’s recovery.

A golden cross occurs when the shorter EMA crosses above the longer EMA. As seen below, the 20 EMA (blue) rose past the 50 EMA (yellow) on September 20. Due to this, the price jumped to $8.25.

Aptos Altcoins Daily Price Analysis.
Aptos Daily Price Analysis. Source: TradingView

As of this writing, APT has retraced to $7.93. If the current EMA positions hold, the price could bounce to $8.83 in the short term. However, if a death cross forms (where the longer EMA moves above the shorter one), Aptos’ price might drop to $6.83.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Banana Gun Rises After Justin Sun’s $6.2 Million Art Purchase

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Justin Sun, founder of TRON and Poloniex CEO, has purchased the viral art piece Comedian—a banana duct-taped to a wall—for $6.2 million at Sotheby’s.

Following the purchase, Sun announced on X (formerly Twitter) that he plans to eat the artwork. This has ignited a frenzy of memes, commentary, and market reactions, even causing the crypto token Banana Gun to spike in value.

Crypto Reacts: Banana Gun on the Rise

Maurizio Cattelan’s Comedian gained international fame in 2019 when it was first displayed at Art Basel Miami. Its simplicity and absurdity—a banana taped to a wall—sparked debates about the nature of art. The so-called artwork became viral when performance artist David Datuna ate it in a stunt dubbed Hungry Artist.

Sun’s pledge to eat the $6.2 million fruit has also drawn parallels, adding another layer of humor to the piece’s history. The Tron founder even said he’s willing to donate the banana to Elon Musk and send it to Mars.

Justin Sun with Comedian Artwork. Source: X (formerly Twitter).

Meanwhile, several users even recreated their own version of Comedian and shared it on social media. One fan followed up by taping bananas around the Massachusetts Institute of Technology (MIT) campus, encouraging others to “tape all over the world” and start a movement.

What they are campaigning for, precisely, remains to be seen.

“In the coming days, I will personally eat the banana as part of this unique artistic experience, honoring its place in both art history and popular culture. Stay tuned,” Sun said on X.

The ripple effects of Sun’s purchase eventually trickled beyond the confines of art and humor and into crypto markets. The token Banana Gun, which shares its name with the theme, surged nearly 16% following the news. Traders and enthusiasts, ever attuned to cultural moments, appear to have seized the chance to capitalize on the buzz.

Banana Gun Price Performance.
Banana Gun Price Performance. Source: BeInCrypto.

Sun’s acquisition and the banana’s virality bring to mind another recent development in the art-crypto nexus. Earlier this week, Ethereum co-founder Vitalik Buterin allegedly minted 400 Patron NFTs. This development sparked hopes of a resurgence for the NFT market.

This aged well…. $BANANA is an insane project. For me, this is in the same league as $ZIG. Fundamentals are truly insane. No matter which narrative will cook next, $BANANA will profit from it,” said one trader on X.

The combination of Sun’s high-profile purchase and the market’s reaction to Banana Gun demonstrates how art, humor, and technology continue to blur boundaries. Whether Sun’s banana-eating spectacle will leave a lasting impact or peel away (pun intended) into meme history, one thing is certain—the intersection of crypto and culture remains as unexpected as ever.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Price Hits 41% Weekly Growth, $1 Target in Sight

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Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX and Ichimoku Cloud, which point to sustained positive sentiment.

However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressure weakens.

ADA Current Uptrend Is Still Strong

Cardano DMI chart shows an ADX of 42.7, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.

With the positive directional index (D+) at 21.3 and the negative directional index (D-) at 11, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.

ADA DMI.
ADA DMI. Source: TradingView

The ADX measures the strength of a trend without considering its direction. Values above 25 indicate a strong trend, while those below 20 suggest a weak or nonexistent trend. With an ADX at 42.7, ADA is clearly in a strong uptrend, showing significant market confidence.

The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could sustain its upward movement if current conditions persist.

Cardano Ichimoku Cloud Shows An Important Signal

The Ichimoku Cloud chart for Cardano indicates a generally bullish trend, as the price remains above the cloud (Kumo). The Tenkan-sen (blue line) and Kijun-sen (red line) are relatively flat, showing signs of consolidation after ADA’s recent rally.

While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen suggests weakening short-term momentum.

ADA Ichimoku Cloud.
ADA Ichimoku Cloud. Source: TradingView

The green cloud ahead signals potential support for ADA uptrend, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.

If the price drops below the Kijun-sen or approaches the cloud, it could signal a possible shift toward bearish sentiment.

ADA Price Prediction: Can It Reach $1 In November?

If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

However, as indicated by the Ichimoku Cloud, a potential reversal could be on the horizon. If bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.

If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why SUI Network Outage Did Not Cause a Price Crash

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Earlier today, the Layer-1 blockchain Sui experienced a two-hour blackout, halting block production and rendering transaction processing impossible. This network outage led to a slight dip in SUI’s price, falling from $3.73 to $3.64.

Despite concerns of a more significant decline, the price stabilized after the project announced that the network was fully restored and operational.

Sui Comes Back Online, Altcoin Still in Good Position

Around 10:52 UTC, web3 security firm ExVull disclosed that a DOS bug caused the Sui network outage. Fully known as a Denial-of-Service (DoS) attack, the bug” refers to a software attack that overwhelms a system with excessive traffic or requests, causing it to become unavailable to legitimate users by crashing or severely slowing its functionality.

“After our analysis, it was found that the Sui Network node occur DOS due to integer overflow,” ExVul stated.

Following this development, several exchanges halted SUI transactions as the price also dipped a little. However, nearly two hours later, the project updated its community, saying that validators had assisted in resolving the issue.

“The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved,” it explained.

Meanwhile, data from Messari showed that, amid the outage, the Sharpe ratio remained positive. The Sharpe ratio is a key measure of risk-adjusted return, indicating how much excess return an investment generates relative to its volatility

It helps investors assess whether the returns of a riskier asset justify the risk taken. A higher ratio signifies better risk-adjusted performance. Typically, when the ratio is negative, it means that the risk might not be worth the reward.

SUI Sharpe ratio
Sui Sharpe Ratio. Source: Messari

However, since it is positive for SUI, it indicates that accumulating the altcoin around its current value could still yield positive returns.

SUI Price Prediction: Run Above $4

On the daily chart, SUI continues to trade within an ascending channel. An ascending channel, also called a rising channel or channel up, is a chart pattern defined by two parallel upward-sloping lines. 

It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.

Sui price analysis
Sui Daily Analysis. Source: TradingView

If this continues, SUI’s price could climb above $4. However, if a Sui network outage occurs again, this might not happen. In that scenario, the value could drop below $3.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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