This Altcoin is the Best Buy During Bitcoin’s Correction, Says Top Analyst

Amid a recent surge in the cryptocurrency market, one altcoin has caught the attention of traders and analysts alike, showing strong potential for further growth.

SUI has emerged as one of the most notable performers in the cryptocurrency market this month, with its price surging to new record highs over the weekend.

In the past two weeks alone, the altcoin has experienced a remarkable 105% increase, positioning it as a standout asset in the crypto space. As of now, SUI remains just below its peak, indicating it could see further growth in the near future.

This is still my sweet spot for #Bitcoin.

If you’re trading, probably when Bitcoin corrects, best thing to buy are trending coins.

– Memes
– $GRASS
– $SUI & $SEI pic.twitter.com/LRMYRmAXua

— Michaël van de Poppe (@CryptoMichNL) November 17, 2024

The cryptocurrency has gained significant attention from both retail and institutional investors. Analyst Michael Van de Poppe recently highlighted SUI as one of the best investment options during Bitcoin’s market correction.

READ MORE:

Could Poland Lead Europe with a Strategic Bitcoin Reserve?

Its increasing popularity is reflected in the growing Open Interest (OI) in SUI futures, which has reached a record $826 million. This surge in demand shows that investors are confident in its potential, and many see it as a promising alternative amidst Bitcoin’s volatility.

SUI’s upward momentum is supported by its strong Chaikin Money Flow (CMF), which is currently above the typical reversal range.

This suggests substantial capital inflows and continued investor interest, signaling that the altcoin could experience further exponential growth. While such high CMF levels have historically been followed by corrections, the current breakout implies that SUI could continue attracting significant capital.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.