If SUI can break above the $1.20 level and maintain its momentum, it might set a new all-time high this year, possibly $4.
However, SUI’s price has yet to surpass Aptos, but that may change soon. As a non-EVM layer 1 blockchain, it is gaining momentum among crypto enthusiasts despite being a relatively new player, having entered the market in Q4 of 2023.SUI’s price action is showing resilience despite the broader altcoin market, excluding Bitcoin and Ethereum, being in a downtrend at press time.
The crypto has broken out of its second broadening wedge pattern within a span of three months, pushing the price above $1.108 with strong volume. The first wedge pattern saw SUI’s price surge over 145%, while the second resulted in a 57% increase, equal to the high of the first. These consolidation patterns are signaling the potential for a price rally in the last quarter of the year, which could significantly benefit traders and investors.Currently, the bulls are in control, and SUI is approaching its all-time high of $2.20.
This price action, along with the growing interest in the SUI ecosystem, indicates strong bullish potential. Traders should closely monitor this movement as momentum continues to build.The weekly crypto RSI heatmap offers further optimism for SUI. Overall levels have moved up, with SUI sitting in the neutral zone, indicating a balance of buying and selling pressure.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sui Network surges: What a $600M TVL means for SUI’s priceSUI/USDT price has already broken above the upper resistance of the hourly downtrend channel, but confirmation is still pending.
Read more »
Sui Network hits $600M high – Is SUI’s price headed for $1 now?Sui has a bearish outlook for the coming days after falling below the $0.8 level recently, and could be set to retrace some of its gains.
Read more »
How SUI flipped Bitcoin, Toncoin to potentially tap into THIS $113B marketSUI's growing adoption has pushed it to 3rd place in TVL among non-EVM chains flipping Bitcoin and Toncoin. This means that SUI will...
Read more »
SUI crypto rises 20% in just a week: Could a 50% surge be next?SUI has showcased commendable performance last week as it pushed its price in double-digits while most others struggled.
Read more »
Is $SUI on the verge of a bullish reversal?The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
High Market Interest Could See SUI Break Out Of Ascending Triangle PatternSUI price is showing bullish signs as open interest reaches a five-month high, potentially leading to a breakout from an ascending triangle pattern. Increased trading volume and a cluster of buy orders at the breakout price suggest strong investor confidence.
Read more »