Meanwhile, XRP, SOL, and SUI show undervalued MVRV levels, hinting at strong breakout potential.
The crypto market is at a crucial point, with traders wondering whether we’re in for a breakout or a pullback. In a recent Thinking Crypto podcast, host Tony sat down with Brian from Santiment to dig into the data, analyzing just how high Bitcoin, Ethereum, XRP, Solana, and Sui could go, and what metrics matter most right now.
Here, where are these coins heading next!
Looking at the Bitcoin price, Brian says Bitcoin’s MVRV ratio, a tool that tracks unrealized profits, is far from overheating. In past cycles, BTC usually peaks when its 3-month and 6-month MVRV ratios hit extreme highs, and we’re not there yet.
Whale wallets holding 10 to 10,000 BTC now control about two-thirds of the total supply, adding roughly 536,320 BTC in the past year, a 4.1% jump.
Over the weekend, BTC tried to break $123K but failed. Brian thinks we might first see a dip toward the $110K area before any push toward new highs.
Ethereum has been riding the ETF approval momentum, with sentiment staying positive. The MVRV shows ETH still has room to grow before hitting the danger zone. He notes that whale holdings have increased, and staking withdrawals remain relatively low, indicating confidence.
As of now, ETH is trading around $4739, reflecting a jump of almost 30% in a week. With a key resistance lies near $4,830, with a potential climb toward $5,000-$5,500 if momentum continues.
Moving forward with XRP, Brian suggests that MVRV data shows it remains undervalued compared to its historical peaks. He believes the lack of extreme euphoria could mean long-term upside, but it may take time.
The chart shows resistance at $3.45, with a breakout potentially sending XRP toward the $3.6-$3.80 range. Whale activity is steady, but the real push might come from overall market strength.
Coming onto Solana, its MVRV ratio is still at comfortable levels, not showing signs of overheating. Brian notes SOL often makes explosive moves when MVRV spikes, and right now it’s well-positioned for upside.
Over the past week, SOL’s price has increased by over 22%, now trading at $205.83. Strong resistance sits at $220, and breaking above could open the path to $235-$250.
Being a newer asset, Sui still has plenty of room for growth, but Brian says its MVRV metrics suggest it’s nowhere near overheated. This gives it potential for strong gains if the market turns risk-on.
Adding to the excitement, European investment firm 21Shares has filed for a spot Sui ETF in the U.S. For now, SUI faces resistance at $4.20, with upside targets of $4.60-$5 if momentum continues.
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