ONDO and btc usdSUI prices surge nearly 5% on Monday, recovering from previous week's dip.
Both altcoins are testing crucial resistance levels; a breakout could signal extended bullish momentum.
MACD indicators for ONDO and SUI show bullish crossovers, reinforcing upward trend potential.
Ondo (ONDO) and Sui (SUI) have demonstrated notable resilience in early trading this Monday, each climbing nearly 5% after a modest pullback last week. These altcoins are now approaching pivotal resistance thresholds, where a decisive breakout could pave the way for sustained upward movement. The Moving Average Convergence Divergence (MACD) indicator for both assets has recently flashed bullish crossover signals, adding technical confirmation to the positive price action.
ONDO Targets Key Moving Average Resistance
ONDO's price action has been particularly interesting, with the asset finding reliable support at a previously breached descending trendline last Wednesday before mounting a 4.6% advance through Saturday. After a minor Sunday retracement, Monday's trading sees ONDO pushing toward $0.87, representing approximately 5% growth from previous closes.
The immediate technical landscape suggests that a sustained move above the 50-day Exponential Moving Average (EMA) at $0.89 could trigger a 14% advance toward the $1.02 level, where the 200-day EMA resides. Should bullish momentum continue beyond this point, traders might anticipate a retest of March's peak near $1.20.
Supporting this optimistic outlook, the Relative Strength Index (RSI) currently registers at 53, maintaining position above the neutral 50 threshold to indicate building bullish pressure. Last week's bullish MACD crossover further strengthens the case for potential upside continuation.
Conversely, failure to maintain position above the 50-day EMA could see ONDO retreat toward support near April's $0.68 low.
SUI Eyes Breakout Above Descending Trendline
SUI's recent performance tells a similar story of recovery, with Monday's 5% advance to $2.22 representing a breakout above a persistent descending trendline that had previously capped rallies. This comes after a 10.10% decline from April 13's rejection at this same trendline.
The current technical setup suggests that a weekly close above $2.34 could catalyze an extended 30% advance toward the $2.90 resistance zone. Such a move would confirm the trendline breakout and potentially attract additional buying interest.
While the daily RSI currently sits at the neutral 50 level, its upward trajectory hints at waning bearish pressure. For sustained bullish momentum, traders will want to see the RSI establish position firmly above 50. Like ONDO, SUI's MACD recently completed a bullish crossover, adding credence to the positive technical outlook.
Should the breakout fail to materialize, SUI might retreat to test support near April's $1.71 low before attempting another advance.