The next major target and resistance is the measured move of the cup-and-handle pattern at $4.00, representing ~86% upside from the current price level.
The immediate support is now the previous breakout level at $2.08. If the price falls below this support level, it could invalidate the bullish thesis, setting up the stage for lower support zones around $1.00.
Their entry into the ecosystem can significantly boost its price. Sui blockchain supports high throughput and low fees, making it attractive for developers and users to construct and use these two key sectors.
DefiLlama data indicates that price follows a chain’s total value locked (TVL) growth. A retest of this level would offer a low-risk buying opportunity. Additionally, clear and favorable regulations are essential for attracting institutional investors, creating a more stable and predictable environment for cryptocurrency investments.
Sui Price Analysis: Bulls Eye $4 In the Short-Term
Sui price action displays a rounding bottom pattern, a bullish continuation reversal pattern. Secondly, strategic partnerships with major players in the finance and gaming industries can significantly boost the asset’s visibility and adoption. The price has already broken out of the handle around $2.08, signaling the start of a potentially strong rally. For instance, collaborating with established gaming companies can lead to the development of innovative blockchain-based games that attract a large user base.
Lastly, institutional investors play a vital role in the cryptocurrency market. Recently, Grayscale launched an SUI investment trust, signaling growing institutional interest in the token. Despite these controversies, Sui’s price has continued to rise and has reached a new all-time high of $2.36.
3 Reasons Why Sui Price Could Hit $100
Analysts predict that Sui could potentially reach a price of $100, with several factors required for this to happen.
Sui Coin Price Remains Robust Despite Insider Trading Allegations
In recent times, Sui has been the center of attention for allegations of insider trading involving wallets linked to the SUI Initial Coin Offering (ICO) selling over $400 million worth of tokens during a recent price surge. Firstly, the growth of DeFi and gaming sectors on the blockchain is critical for the success of the token.
Senator Elizabeth Warren Softens Crypto Stance in Massachusetts Senate Debate