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Recent developments show deep-pocket investors in Sui (SUI) and Binance Coin (BNB) are rotating funds to a new AI coin at full tilt. This move comes as SUI hints at an imminent price drop and BNB nears a breaking point, causing investors to seek more stable and reliable investment alternatives.
Let's find out why SUI and BNB whales are settling for this clandestine AI coin!
Solana killer SUI gained significant traction during the week after achieving a 10% price growth. Surprisingly, traders are now bearish on the asset despite increasing activities within the Sui network.
According to the on-chain activity tracker CoinGlass, 71% of Sui traders are shorting SUI, suggesting that this set of traders expect a drop in the asset's price soon. This sentiment could induce a selling spree in the SUI market, triggering a massive decline in its market value.
The chart reveals that SUI is hovering slightly above a price level where it previously experienced a 50% decline. With the growing percentage of short traders, Sui might be on the verge of an intense sell-off.
Moreover, its Relative Strength Index (RSI) reading shows the asset in the overbought territory, with expectations of a reversal mounting, substantiating the bearishness. SUI is down 3.59% to $1.99 in the last 24 hours.
BNB has struggled with broader market headwinds for the last four months, trapped between $460 and $600. The crypto asset crashed below the $607 region recently, charting a downward course toward the $500 price mark.
Fortunately, the bulls took over from the $539 support zone, backed by Bitcoin's recovery, pushing the asset above $550. The surge above this price level saw the asset surpass the 20-day, 50-day, and 200-day Exponential Moving Average (EMA), reflecting renewed buying interest.
If BNB maintains this upward path at its current pace, the Binance Coin could reclaim the $607 resistance point and even surpass it. Conversely, a rejection at the $607 price mark could invalidate the bullish sentiment, forcing the price back down.
Hence, market participants should be mindful of the significant price points between $539 and $607, as they will serve as braces for BNB during this phase. BNB currently trades at $580, having secured a 2% increase in its price over the last 24 hours.
Due to the shaky outlooks of SUI and BNB, investors have opted for IntelMarkets, a new AI coin rising in popularity in the artificial intelligence sector of the cryptocurrency economy.
IntelMarkets' ongoing presale is one reason for its growing recognition across the space, as it is considered one of the most lucrative investment ventures, offering safety from the scathing market conditions.
IntelMarkets is also gaining traction as a crypto exchange, providing crypto traders a platform to trade perpetual contracts. In other words, it allows futures traders to long or short an asset with up to a 1,000x leverage to bolster their potential profits.
The exchange is built on a dual-chain infrastructure that supports Ethereum and Solana. This setup allows traders to trade their preferred asset on their preferred blockchain depending on their strategies without incurring heavy costs or dealing with latency issues.
INTL, IntelMarkets' native token, is in its public presale, trading at $0.027 in Stage 3. The jump to its final stage will see the AI coin soar 300% to $0.11, presenting INTL as a smart investment.
INTL is a relatively new cryptocurrency looking to establish itself among the top players in the industry. As it moves to take its place, investors have an opportunity to be a part of its journey and growth, with a chance to amass significant returns in the long run.
This is why we believe that the INTL AI coin is a better investment option than other top crypto coins like SUI and BNB.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
