Bitcoin's Potential $90,000 Surge May Boost SUI, ONDO, ENA

Bitcoin has been on a steady climb, with some analysts predicting it could reach $90,000 before the summer. This potential surge is expected to have a significant impact on various altcoins, with some poised to benefit more than others. The factors driving this prediction include increasing regulatory clarity and growing institutional interest in Bitcoin.

One of the altcoins that could see significant gains is SUI. Over the past month, SUI experienced a near 9% drop, with a weekly decline of roughly 9%. However, its six-month performance shows a recovery of about 6%, indicating a medium-term rally. The coin's price swings suggest it has been testing its limits in both bearish and modestly positive conditions. Current trading levels range from $1.74 to $3.03, with support at $1.21 and resistance at $3.78. Technical indicators show a near-neutral RSI at 46 and a slightly negative moving average sentiment, suggesting a dominant bearish short-term bias. Traders might consider buying near support while monitoring the resistance zone for potential breakout or reversal opportunities.

Another altcoin to watch is Ondo (ONDO). ONDO prices increased slightly by 0.86% last month, while the six-month performance recorded a solid 10.31% gain. The coin has shown stable behavior recently, with a gradual upward trend observed over the longer term. This resilience in price action reflects a growing confidence among investors, suggesting a positive outlook as the market stabilizes. Current trading sees prices fluctuating between $0.60 and $1.10. Key resistance is established at $1.42, with another level at $1.92, while support is found near $0.41. Market dynamics show neither bulls nor bears gaining a decisive edge, as technical indicators are near neutral. Consider buying closer to support and monitor for potential breakouts above the resistance levels.

Ethena (ENA) is another altcoin that could be impacted by Bitcoin's potential rise. Ethena experienced a 16% drop over the past week, a 25% decline in the last month, and a nearly 27% fall over the past six months. These figures indicate a continuous downward move that has kept market sentiment weak throughout these time frames. The price trajectory shows a persistent bearish trend without any significant recovery signs during these periods. Current levels feature a near-term resistance around $0.53 and support near $0.24, with an additional target resistance at $0.68 and a lower support at $0.09. Indicators point to bearish dominance and the absence of a clear upward trend. Traders could consider looking for opportunities to buy near the support, while remaining cautious in the prevailing downtrend.

If Bitcoin reaches the projected high, SUI, ONDO, and ENA are likely to benefit. SUI may attract attention due to its innovative features. ONDO could see gains with its unique appeal. ENA might also rise, leveraging investor interest and market trends. The next few months could be crucial for these coins as Bitcoin's influence impacts the broader market. However, it is important to note that while these predictions are based on current trends and market conditions, they are still subject to a high degree of uncertainty. The cryptocurrency market is notoriously volatile, and prices can fluctuate rapidly in response to a wide range of factors. As such, investors should approach these predictions with caution and conduct their own research before making any investment decisions.