As Bitcoin (BTC) prepares to possibly break higher and rise up past its all-time high, the big layer 1 blockchains are potentially getting ready to follow that lead and also break higher. Which of $ETH, $SOL, or $SUI could make the highest shorter term gains?
$ETH 1 month of sideways price action about to end?
Source: TradingView
After breaking up through the descending trendline that stretched from mid-December 2024 to early May 2025, the $ETH price shot skywards for a 50% gain. However, the resistance at $2,700 held firm, and $ETH has traversed in a range between this level and the $2,400 support.
It would perhaps appear to be a matter of time before the $ETH price breaks up and past this overhead resistance and moves on up to $3,500. The longer $ETH continues to trend sideways, the more explosive and higher the next move could be.
$SOL breaks up past descending trendline
Source: TradingView
The daily time frame for $SOL illustrates how the price went down to exactly touch the 0.5 Fibonacci level, which is a relatively deep level to come down to. It bounced from there and has today broken beyond a short-term descending trendline.
The daily Stochastic RSI has the indicators trending upwards and therefore there could be room for the $SOL bulls to try and make a local higher high beyond $187, which happens to be an important horizontal resistance level. If the $SOL price can consolidate above this level, this would open the path back to the all-time high.
$SUI getting a bounce from major support level
Source: TradingView
The $SUI price is seen in the higher time frame of the weekly. This is because support and resistance can be clearly seen on this level. Last week’s candle body closed above the $3.19 horizontal support, leaving a good wick underneath, which provides evidence that the bulls came in strongly to hold this level.
A bounce looks as though it is taking place now, and should the price rise above the current resistance level, the next stop could be $4.
At the bottom of the chart the weekly Stochastic RSI indicators may be starting to flatten out. If they can continue to do so, and perhaps get a bounce at the 50.00 level, all systems are go for $SUI.
If all the positive price action plays out for these three layer 1s, $ETH could be set to rise 36% from its current price level, $SOL 20%, and $SUI 20%. Of course, much depends how heavily investors get behind any particular one of these altcoins.
It should also be borne in mind that the $ETH market cap is around 4 times bigger than $SOL, and around 30 times bigger than $SUI. Therefore, the amount needed to move the $SOL price is relatively less, and for the $SUI price much more so.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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