SUI is poised for a potential breakout following the exit of weak hands, which could trigger a shift in the top 20 cryptocurrency rankings.
SUI reached an ATH a week ago, indicating a potential top. The next bottom will establish the entry point needed to beat its rivals.This divergence prompted analysts at AMBCrypto to examine whether the recent pullback was a deliberate attempt to shake out weak hands, setting the stage for a stronger push that could close SUI near $2.40.
Trading at $2.06 at press time, SUI has shown impressive gains in a short timeframe. This surge was marked by a significant peak, with the RSI reaching overextension. This momentum is bolstered by the network’s design, which aims to address traditional blockchain shortcomings by enabling faster transactions without congesting the network.
Yet, for a rebound to materialize, it is crucial for new buyers to target the local low at $2 as a potential dip, anticipating a rally that could offer substantial returns.
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