The crypto industry begins the year with approximately $7 billion in tokens set to be unlocked throughout January, according to data from Tokenomist (formerly Token Unlock). Crypto unlocks are designed to gradually release cryptocurrencies, often to prevent significant sell-offs by early investors or team members. While this process ensures a controlled flow of tokens into […]
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Most traders expect Bitcoin price to hit new highs throughout 2025, and charts suggest ETH, SOL, SUI and AAVE could be the top-performing altcoins this year.
The asset manager has added tokens including HYPE, VIRTUAL, ENA and JITO to its list of the top 20 tokens to watch.
While Ethereum (ETH) has once again failed to break through the stubborn $4,000 resistance level, BlackRock’s iShares Ethereum Trust ETF has quietly accumulated over one million ETH. This milestone reflects strong institutional demand for Ethereum, even as its price performance in 2024 remains lackluster. Institutional Interest In Ethereum On The Rise Year-to-date (YTD), Ethereum – […]
Bitcoin’s recovery toward $100,000 could attract buyers to SUI, BGB, ENA, and VIRTUAL.
SUI has shown a remarkable bullish comeback, overcoming earlier setbacks with impressive strength. The cryptocurrency has steadily gained ground, attracting attention. As the price approaches the critical $4.98 resistance, the potential for a breakout looms. A successful move above this level could trigger a new phase of bullish momentum, setting the stage for the token to achieve new highs. Specifically, the $4.98 has been a key barrier in recent trading, and breaking through it would be a significant achievement for SUI. With strong market sentiment building, a breakthrough may inspire more buying pressure, pushing the price even higher. As the asset moves close to this crucial level, the possibility of new record highs becomes increasingly likely, making SUI one of the critical cryptocurrencies to watch in the coming days. SUI Bulls Take Charge Toward $4.98 Threshold SUI is currently demonstrating impressive bullish momentum as its price steadily climbs toward the critical $4.98 resistance level. This price action signals a strong comeback for the token, with bulls steadily regaining control after previous bearish pressure. The $4.98 threshold has emerged as a key point of interest since it represents a potential breakout zone that could drive the price higher toward new highs. Related Reading: SUI The Rising Star: Analyst Foresees Over $25 Breakthrough A successful breach above the $4.98 level would confirm the continuation of the positive trend and attract additional buying interest. This could lead to a shift in market sentiment, with buyers asserting dominance and possibly pushing the price toward the next resistance levels. A Break Above $4.98 Could Signal More Upside SUI’s price has successfully risen above the 100-day Simple Moving Average (SMA), a significant technical milestone that signals a shift in market sentiment. Significantly, this rise above the 100-day SMA indicates that the token may be entering a new bullish phase, as the price action is now trading above a key moving average that has historically acted as support or resistance. It reflects a growing market optimism and signs of stability, raising the potential for a continued upward trend. Also, the Relative Strength Index (RSI) confirms strong upbeat strength for SUI, rising above the 50% threshold to 59%. This suggests that buying pressure is outpacing selling, signaling a shift in the market and a reversal of the recent downtrend. With the RSI in a neutral-to-bullish zone, there is room for further upside if the momentum continues, supporting the case for continued price gains and a break above $4.98. Related Reading: SUI Hits New ATH, Can Bullish Momentum Lead Price To $5 This Weekend? In conclusion, if SUI’s price breaks above the $4.98 level, it could lead to the formation of new highs, implying a strong continuation of the uptrend. However, failure to breach this resistance may result in a consolidation phase or a pullback, suggesting that sellers could still have control over the market and limiting upside potential. Featured image from Shutterstock, chart from Tradingview.com
The native token of the decentralized smart contract platform Sui (SUI) kicked off the week with an all-time high of $4.96, buoyed by an overall bullish trend in the cryptocurrency market. The momentum was short-lived, as SUI experienced a significant retracement on Friday, plummeting nearly 30% to $3.49. However, the token rebounded swiftly, stabilizing at approximately $4.55, representing a 12.8% increase from the week’s low and just 8.9% shy of its record price, SUI Surges Amid Market Volatility In stark contrast, major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have continued to experience downward corrections following the US Federal Reserve’s (Fed)0 recent decision regarding interest rates. The Fed’s dovish stance has negatively impacted risk assets, contributing to a generally bearish sentiment in the market that led the market’s leading crypto, to retrace almost 10% from the record high of $108,000. The volatility surrounding SUI led to nearly $14 million in liquidations across both long and short positions on centralized exchanges, with Binance reporting the highest liquidation rates within the past 24 hours, according to data from Coinalyze. Related Reading: Bitcoin Rally Loses Momentum: Could A Drop To $75,000 Signal The Final Correction? Notably, recent analysis has indicated that Sui ranks third in net inflows over the past three months, with close to $1 billion entering the network, highlighting the growing investor interest in SUI, further bolstered by a new partnership with Phantom wallet. Crypto analyst Route 2 FI noted in a recent social media post on X (formerly Twitter), that the bullish reversal in SUI’s price indicated strong investor sentiment, culminating in the token’s record peak at the beginning of the week. Analyst Targets $6 As Market Momentum Builds Michael van de Poppe, another respected analyst, pointed out the substantial daily candle movement in SUI, emphasizing that the price dipped into support before quickly bouncing back. He expressed optimism that this trend is far from over, suggesting that SUI could continue its upward trajectory with a target of $6 in sight. The recent surge in SUI’s price is also expected to attract Bitcoin liquidity into its ecosystem, further enhancing the token’s bullish prospects. Technical analyst Rekt Capital highlighted that SUI has effectively executed a post-breakout retest from its re-accumulation range. Rekt also noted that strategic partnerships with Babylon Labs and Lombard Finance would facilitate the integration of Bitcoin liquidity, which could significantly benefit the Sui platform. Related Reading: XRP, Solana Among Altcoins Witnessing TD Buy Signal, Analyst Reveals The growing interest in SUI raises questions about its potential performance in 2025. However, crypto researcher Eyezenhour recently emphasized that while there are numerous reasons for optimism regarding SUI’s future, the key factor is attention. The researcher contends that the Sui Network has started to captivate institutional investors, a trend attributed to its dominant technology, upcoming integrations with Phantom and Backpack, and a talented core and executive team. This is expected to continue throughout the current bullish cycle and into 2025, adding to the bullish sentiment for the altcoin as the year draws to a close. Featured image from DALL-E, chart from TradingView.com
SUI momentum continues after recording a new all-time high (ATH) on Friday morning. The cryptocurrency surged 4.5% to near the $5 barrier for the second time this week, fueling investors’ optimism about the token’s future price action. Related Reading: Ethereum: Analysts Eye $4,100 Target As ETH Reclaims Key Support Level SUI Nears $5 After New ATH SUI has been one of the leading cryptocurrencies this bull run, rising over 521% year-to-date (YTD) and nearly 182% since Q4 started. The token also outperformed the market throughout the Q2 and Q3 retraces, registering massive gains while most altcoins struggled. As the crypto market started to gain steam in preparations for the US elections, SUI saw a brief consolidation period after surpassing its March ATH. The token hovered between the $1.7-$2.3 price range before continuing the “price discovery” mode in November. The post-US election pump propelled the cryptocurrency’s price past the $3 barrier and near the $4 mark before retracing. Nonetheless, SUI’s momentum resumed on December 5 when it hit the $4.5 mark, fueled by Bitcoin’s first-ever surge above $100,000. The token’s rally continued this week, with SUI registering a 14% increase in the last seven days, which led to its latest $4.92 milestone on Friday morning. SUI’s remarkable performance also drove the token to the top 15 cryptocurrencies by market capitalization after flipping Polkadot (DOT). SUI’s Price To Peak In June? Amid SUI’s performance, several analysts noted that the token, often called “Solana’s “killer,” seems to be repeating SOL’s 2021 path. Market watcher Mags compared the two charts, suggesting investors won’t be ready for SUI’s upcoming movements. During the 2020-2021 cycle, Solana saw a massive rally that drove its price to its previous ATH. Its price action saw SOL gain steam at the end of 2020 and surge to its first major high of the year in May 2021. Then, Solana consolidated for a few months before resuming its run, peaking at $259 in late November 2021. According to Ali Martinez, SUI’s performance earlier this year resembled Solana’s initial climb last cycle, jumping to its $2.3 high before consolidating for a few months. Now that it has broken past its March ATH, SUI continues to move similarly to SOL, which could suggest that the token is poised for a massive surge soon. If it continues this pattern, the cryptocurrency could hit the $5 mark in the coming days after a brief consolidation in the $4.5-$4.8 price range. Trader Crypto Rand highlighted that SUI is in “full bullish momentum,” also forecasting it will hit the $5 mark soon. Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? Another pseudonym crypto trader predicted that the token could be near the $8 barrier by early 2025 and hit the $16 mark by Q2, following SOL’s path. Based on the chart, SUI could see its rally extended until June 2025, when it would hit its peak around the $40 mark. As of this writing, SUI is trading at $4.79, a 50% surge in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Sui is re-thinking what blockchains can be. And this year, many of Wall Street's largest institutions are taking note.
Bitcoin’s consolidation in the $100,000 range is giving traders an opportunity to take a closer look at DOGE, SUI, PEPE and FTM.
SUI has been on an impressive upward trajectory, but signs of potential exhaustion are beginning to emerge. Key technical indicators now suggest the cryptocurrency has entered overbought territory, sparking speculation about whether a pullback could be on the horizon. While the recent rally reflects strong bullish momentum, the market may be approaching a critical juncture. Can SUI maintain its upward streak, or is a price correction inevitable? As of writing, SUI has surged over 10%, reaching a price of $4.23 in the past 24 hours. This movement has boosted its market capitalization to over $12 billion, with trading volume exceeding $5.5 billion, indicating strong investor interest and market activity. Technical Analysis: Indicators Hint At Overbought Conditions SUI’s price on the 4-hour chart is beginning to exhibit bearish signals, with a noticeable decline toward the $4 support level and the 100-day Simple Moving Average (SMA). This downward movement is underscored by the formation of a bearish candlestick, suggesting growing selling pressure in the market. A sustained drop below these levels could signal a broader trend reversal, making this a pivotal moment for its price action. Additionally, the 4-hour Composite Trend Oscillator for SUI is flashing an overbought condition, highlighting the asset’s recent robust upside pressure. Typically, an overbought reading suggests that the price has risen rapidly within a short period, potentially leading to market exhaustion as buyers begin to lose strength. Related Reading: SUI In Bear Territory: RSI Drop Suggests Further Downside Risk This condition often serves as a cautionary signal for traders, indicating the possibility of a price correction or a consolidation phase as the market seeks to regain equilibrium. If the overbought pressure persists, SUI could face challenges maintaining its current levels. Key Support Levels To Watch If A Pullback Occurs If SUI experiences a pullback, monitoring critical support levels that could provide stability is essential. Presently, the $4 mark stands out as a key level, reinforced by its alignment with the 100-day SMA. A dip below this support might trigger further declines, with support zones near $3.75 and $3.50 acting as potential cushions. These levels are crucial in determining whether the pullback will be temporary or evolve into a more extended bearish phase. Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction However, If the bulls manage to trigger a comeback at the $4 support level, it could mark the beginning of a renewed rally for SUI toward $4.50 and beyond, implying that buyers are regaining control. Featured image from YouTube, chart from Tradingview.com
SUI trades at crucial supply levels, sparking intense speculation among traders and analysts about its next move. After recently reaching a new all-time high (ATH), the price failed to sustain above its previous ATH, raising concerns about whether this was a genuine breakout or merely a fakeout. The current price action has left market participants waiting for confirmation as bulls attempt to reclaim dominance. Related Reading: Dogecoin Is ‘Ready To Run Again’ – Analyst Expects 60% Rally Renowned analyst and investor Carl Runefelt has shared a bullish outlook for SUI, predicting an imminent breakout. According to his analysis, a successful push above the current supply levels could trigger a rally toward $4.20 in the coming days—or potentially within hours. Runefelt’s perspective adds confidence to the market sentiment, suggesting that SUI still holds the potential to reclaim its upward trajectory despite recent setbacks. The coming days are crucial for SUI as traders monitor whether bulls can overcome the key resistance levels. A decisive breakout could solidify SUI’s position as one of the most promising assets in the crypto market. At the same time, a failure to do so might result in prolonged consolidation or a deeper pullback. All eyes remain on the $4.20 target and SUI’s bullish momentum. SUI Only 5% Away From ATH SUI recently surged to a new all-time high (ATH) but failed to hold above the previous ATH of $4.05 set on November 17. Despite this brief pullback, the price action indicates that SUI remains poised to reclaim and surpass its ATH, with analysts and investors expecting significant upside momentum shortly. Top analyst Carl Runefelt provided a detailed technical analysis on X, highlighting that SUI recently broke out of a 4-hour symmetrical triangle pattern, signaling bullish momentum. SUI trades within a bullish flag formation, a classic continuation pattern often preceding substantial price rallies. Runefelt has set a price target of $4.20 in the coming hours, which he believes could act as the next major resistance before SUI establishes new highs. The broader market environment adds further confidence to this bullish outlook. With strong momentum, Bitcoin’s breakout above the $100K level has historically triggered altcoin rallies as liquidity flows from BTC into smaller assets. This dynamic positions SUI for a potential surge as it benefits from heightened interest across the cryptocurrency market. Related Reading: $1.87B Bitcoin Withdrawals From Coinbase In 24H – What This Means To Price While the short-term outlook for SUI appears bullish, the price must break and hold above its previous ATH to confirm sustained upward momentum. All eyes are on $4.20 as traders await the next move in SUI’s exciting rally. Price Discovery Rally Or Settling Correction? SUI is trading at $3.83 after briefly breaking its all-time high (ATH) but retracing over 6% from the recent peak. Despite the pullback, the price remains within striking distance of key resistance levels that could determine its next move. If SUI breaks above $3.88 and successfully reclaims the November 17 ATH at $3.94 as support, it will likely trigger another breakout, setting the stage for a price discovery rally. Reclaiming and holding these levels would signal strong bullish momentum, potentially driving SUI into uncharted territory as buyers fuel the next leg of its rally. Such a scenario would align with the broader market sentiment following Bitcoin’s recent rally above $100K, which has historically increased demand for altcoins. Related Reading: Dogecoin Whales Keep Buying – DOGE Metrics Reveal Demand Remains Strong However, there is a risk if SUI fails to break above $3.88 and $3.94 in the near term. A rejection at these levels could result in continued consolidation as the price struggles to find direction. This would likely keep SUI trading within a range, frustrating bulls seeking a breakout. Worse, a failure to maintain support could lead to a deeper correction, testing lower demand zones and cooling market enthusiasm. Featured image from Dall-E, chart from TradingView
Starting in December, Bitcoin holders will be able to stake BTC on Babylon, a Bitcoin layer-2, from the Sui network.
The SUI token experienced a 115% month-over-month gain in October and continues to appreciate as it emerges as a Solana competitor.
The asset manager will support builders on Sui and pilot emerging blockchain technologies on the network.
The downtime was caused by a bug in its transaction scheduling.
Layer-1 blockchain, Sui, has confirmed that its network is currently down and unable to process transactions. In a Nov. 21 statement, the team behind Sui identified the issue and announced that a fix would be deployed shortly. The project stated: “The Sui network is currently experiencing an outage and not processing transactions. We’ve identified the […]
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The Sui network has ceased block production for over two hours, leading to a sharp decline in the token’s price. Data from suivision and suiscan indicate that block generation stopped at 09:15 UTC today, and the network has yet to resume normal operations. This marks the first major outage for the project, a blockchain praised as “Solana killer.” SUI Price Crashes Following Network Outage Members of the community have suggested that issues with validators might be the cause of the disruption. Validators, critical for processing transactions and maintaining the blockchain’s integrity, appear to be experiencing problems. The official status page, status.sui.io, acknowledges the issue, stating that they are “continuing to investigate” and confirming that “validators are down.” Despite these updates, the development team has not released an official statement detailing the root cause or providing a timeline for resolution. Related Reading: SUI Price Stability At $3.5 Signals Room For More Growth, $4 Mark Imminent? Blockchain security firm PeckShieldAlert confirmed the disruption, noting that the “Sui blockchain network appears to be experiencing delays, with reports indicating that the latest block has produced over an hour ago.” #PeckShieldAlert #Sui blockchain network appears to be experiencing delays, with reports indicating that the latest block was produced over an hour ago pic.twitter.com/KHFpmMqKxB — PeckShieldAlert (@PeckShieldAlert) November 21, 2024 The incident has sparked discussions on social media, with several crypto community members drawing parallels between Sui’s current situation and Solana’s past network outages. Crypto analyst Quinten Francois commented, “SUI has been down for 55 min, with no blocks produced during this period. SOL 2.0?” Similarly, WantCoinNews expressed interest in how the Sui community and developers will handle the downtime, stating that their response could “either destroy or strengthen the trust in the chain.” They added a personal note, saying, “Let me just ignore this Solana type FUD and look for entries. Minimum $5.” Ben Armstrong, known as BitBoy, weighed in on the matter: “It is with great pause, I declare SUI officially the next SOL. How many times do I have to say it? Can’t wait to hear from the team on this one. Solana has taught us that it’s way better for a blockchain to be overwhelmed than not used.” Related Reading: Aptos Following SUI’s Lead? Analyst Says APT’s ‘Explosive Breakout’ Targets $20 Following the news of the outage, the token’s price dropped by 7%. Over the last 24 hours, the SUI price has fallen by nearly 10%, reflecting investor concerns over the network’s reliability. Despite this setback, SUI remains one of the few altcoins to have reached a new all-time high in the current market cycle. The price dip brings the token to a critical support level at the 1.618 Fibonacci extension of $3.24. If this support holds, SUI could be poised for another upward movement, potentially targeting the 2.618 Fibonacci extension level at $4.97. At press time, SUI traded at $3.39. Featured image from X, chart from TradingView.com
The South Korean crypto exchange Upbit had temporarily disabled SUI deposits and withdrawals amid the network outage.
Aptos (APT) recorded a 37.6% surge in the last two weeks, reclaiming its Q1 levels. According to some market watchers, the cryptocurrency’s recent performance follows SUI’s lead, which has set the stage for a massive rally toward a new all-time high (ATH) in the coming weeks. Related Reading: Bitcoin ‘Parabolic Phase Just Begun’, Is BTC Hitting $100,000 This Week? Aptos To Follow SUI Steps Aptos has recorded a remarkable performance amid the market’s rally. Following the US presidential elections, the cryptocurrency has climbed from the $7.8 mark to reclaim the $11 support zone for the first time since late April. According to some crypto analysts, APT’s chart displays a similar trajectory to SUI’s. Analyst Alex Clay pointed out APT’s performance is “following SUI steps perfectly,” suggesting that a breakout might be coming soon. Per Clay’s post, Aptos’s chart displays the same price action as SUI, starting with a decline from its 2023 highs followed by a rise toward March’s highs. After Q1’s performance, the cryptocurrencies retraced over 70%, making a higher low (HL) from last year’s bottom and rising near March highs. However, SUI took the lead and is currently in its “price discovery mode” after surpassing its March ATH a month ago. In the last month, the token surpassed its previous high several times, setting its latest ATH of $3.92 two days ago. Based on this, the analyst suggests that investors should “wait for APT to breakout and price discovery.” Another market watcher previously noted that SUI and APT were moving in a “catch-up trade” path for the last year. The trader explained that the cryptocurrencies followed a similar path before SUI “decoupled” twice. Following SUI’s takeoff, APT experienced an over 40-day lagging period before resuming its run. At the time of the report, Aptos was two weeks away from catching up on SUI, which now coincided with the post-election run. An SUI-like breakout could see APT surpass the $18 mark and soar toward a price discovery zone above the $20 range. APT Eyes $20 Target Crypto analyst Quinten highlighted APT’s recent performance, asserting that it is “reclaiming its dominance, printing consistent higher highs and higher lows.” He also noted that the token’s chart shows “strong accumulation leading up to this explosive breakout.” Last week, the token soared over 40% toward its monthly high of $13.3, a level not seen in seven months. Since then, the cryptocurrency has moved sideways, consolidating between the $11.5-$12.6 price range, briefly losing the lower range when Bitcoin (BTC) retraced toward $87,000. Related Reading: Crypto Analyst Warns of Potential Bitcoin Market Shift as Exchange Reserves Decline The $11 mark was a significant resistance throughout Q3, with APT being rejected from this range several times. However, the token has successfully held above this level for seven days. As a result, the analyst believes the current momentum could send Aptos to a new ATH, as the “next big psychological and technical target” is at the $20 mark. At the time of writing, APT is trading at $11.79, a 2.2% decline in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Despite market fluctuations, SUI has demonstrated remarkable stability, holding steady above the critical $3.5 support level. This steady performance reflects underlying bullish momentum, as buyers continue to defend this key zone, boosting confidence in the asset’s upward potential. With strong support intact, SUI appears well-positioned to target higher resistance levels, sparking optimism for further gains. This analysis aims to explore SUI’s ability to stay above the $3.5 level and assess its implications for future price movements. By examining key technical indicators and resistance zones, this piece seeks to provide insights into whether SUI can sustain its bullish strength or if market pressures could trigger a shift in its trajectory. What SUI Stability Above $3.5 Means For Bulls SUI is showcasing renewed bullish strength as it maintains a firm position above the critical $3.5 support level. This stability highlights growing buying interest and market confidence, paving the way for a possible move toward the $4 mark. Its ability to hold above this key level and the 4-hour Simple Moving Average (SMA) reinforces the asset’s upward momentum, and positions SUI for further gains if positive sentiment persists. An analysis of the 4-hour Relative Strength Index (RSI) analysis shows a rebound from 51%, rising toward and above the 60% level, indicating a renewed optimistic outlook. If the RSI continues to rise above 60%, it would confirm the positive trend, boosting the potential for more price growth. Related Reading: SUI Eyes Potential Breakout Amid Market Retrace, Is $2.3 Next? Additionally, SUI shows significant upward movement on the daily chart, marked by the formation of a bullish candlestick as it moves toward the $4 mark. Trading above the crucial 100-day SMA reinforces the positive trend, indicating sustained strength. As SUI continues to climb, it bolsters market confidence, setting the stage for growth. With upside pressure brewing, the next key target to watch out for is the $4 resistance level, which could determine whether the bullish move extends. The daily chart’s RSI has increased to 80%, signaling strong positive sentiment with sustained buying pressure. While the asset remains in an overbought territory, it shows no signs of weakening. If the momentum continues, further price gains are possible, though one should be cautious, as prolonged overbought conditions could lead to a correction if buying pressure decreases. Potential Scenarios: Upside Targets And Risks To Watch SUI’s current stability above the $3.5 support level indicates potential for continued upside. Should buying pressure persist, the next key target lies at $4, where bullish interest could be triggered, leading to new price highs. Related Reading: Can SUI Reach $2.18? Bullish Pressure Builds Toward Key Milestone However, if resistance at $4 proves challenging to break through, consolidation or a minor decline may occur, possibly causing the price to retreat toward the $3.5 support level. A break below this level could result in additional losses, with the next key support target being around $2.8, followed by other support areas below. Featured image from YouTube, chart from Tradingview.com
A little over a year since its debut, the SEI token has experienced remarkable growth, looking to break into the top 50 largest cryptocurrencies by market capitalization. The altcoin has been one of the best performers in the past few days while posting a double-digit gain in the last 24 hours. Crypto Analyst Says Token Is Heading To $0.65 — Here’s How In a recent post on the X platform, prominent crypto analyst Ali Martinez put forward an interesting projection for the price of SEI in the short term. According to the pundit, the cryptocurrency seems ready to continue its upward momentum and movement. This bullish forecast revolves around the formation of the bull flag pattern on the SEI price chart on the four-hour timeframe. The bull flag formation often serves as a strong continuation pattern for upward price trends. Related Reading: Bitcoin Bears In Trouble: $800 Million Set For Liquidation If BTC Reclaims This Price The technical analysis formation is characterized by a period of almost vertical upward price movement (the flagpole) followed by a slight consolidation period (the flag itself). While the bull flag pattern signals the potential for price to trend higher, it is necessary to wait for a successful break out of the consolidation for confirmation. As observed in the chart above, the price of SEI appears to have broken out of the consolidation zone, with a four-hour candlestick closing above the upper boundary. According to Martinez, this recent price action puts the next stop for the token at $0.65, representing roughly a 20% rally from the current price. As of this writing, the SEI token is valued at around $0.53, reflecting an almost 16% climb in the past day. The altcoin, which was mostly quiet all week long, is now up by nearly 18% in the last seven days, according to CoinGecko data. Is SEI Following SUI? Earlier in the past week, Martinez predicted that the price of SEI was soon going to follow the path of the red-hot SUI. Perhaps due to their similar names, these two crypto tokens have an almost identical price trajectory. $SEI will follow $SUI… $1.60 next! pic.twitter.com/UA2a9hUSs1 — Ali (@ali_charts) November 11, 2024 It is worth mentioning that SUI, which is up by more than 50% in the past week, has been impressive long before positive momentum returned to the market. However, Martinez took to the X platform to share that SEI will follow SUI’s bullish footsteps — with $1.6 in its sights. Related Reading: Bitcoin Spot Is King – STH Selling Pressure Expected To Be Absorbed By ETFs Featured image created by Dall-E, chart from TradingView
VanEck, a global asset management firm and US spot Bitcoin ETF issuer has launched a new exchange-traded note (ETN) tied to the SUI token from the Sui blockchain network, according to a Nov. 13 statement. The ETN, now available on Euronext Amsterdam and Euronext Paris, allows European investors in over 15 countries to gain exposure […]
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Bitcoin’s strong weekend rally to $81,000 could add more fuel to the current price action in ETH, SOL, SUI, and AAVE.
SUI has seen notable interest from investors and traders as the project has attracted a substantial influx of liquidity in the midst of rising market sentiment, underlining the growing confidence towards the crypto asset. This capital rise has increased trading activity and broadened the asset’s availability on many exchanges, indicating that the market is confident […]
After recovering from the market retrace, SUI is trying to reclaim the $2 mark and break out from a bullish pattern. Some market watchers suggested the cryptocurrency will pull some “big moves” toward a new all-time high (ATH). Related Reading: Bitcoin Faces Fifth Consecutive Rejection At $72,000, Is Another Correction Coming? SUI Recovers From Halloween’s Correction As October ended, the crypto market saw a spooky correction led by Bitcoin’s drop below the $70,000 mark. Most cryptocurrencies experienced a significant retrace, with Ethereum and Solana bleeding around 5%. SUI, the native token of the Sui Network, joined the rest of the market and declined by 4%, losing its recently recovered $2 support. The cryptocurrency has been one of the best-performing tokens in the past few months, outperforming most of the market during Q3. Moreover, it recorded a 25% rise toward its latest $2.35 ATH two weeks ago. Following its rally to its ATH, SUI’s price faced an 18.5% correction, making investors and analysts forecast a longer consolidation time for the token. Earlier this week, the token followed BTC’s surge and eyed the $2.15 zone, which previously propelled the price toward its latest ATH. Nonetheless, the token reached the lower levels of the $1.90 support zone on Friday morning amid the market retrace. Today, SUI surged 9.3% from its $1.92 daily low to hit the $2.10 mark before retracing to $2.07. Some analysts consider the cryptocurrency is gearing up to “put in a big move” following the correction. Is A Retest Of The $2.35 ATH Looming? Analyst AMCrypto pointed out that SUI’s recent performance could target a breakout from a bull flag formation. Per the chart, the cryptocurrency displays this bullish pattern in the three-day chart, with the breakout target sitting at $2.05. The analyst stated that if SUI successfully breaks above the upper trendline, “it’ll pump towards its previous ATH.” Meanwhile, crypto analyst Altcoin Sherpa proposed two short-term outcomes for the token. Sherpa considers the cryptocurrency will test the ATH zone and pull back to the current levels at least once more in the coming weeks. He indicated the price could drop to $1.65 if it fails to hold the $2 support. However, it could also bounce from this level after the retrace and rally toward a new ATH of around $2.7 by year-end. Sherpa previously suggested that tokens with a strong September performance still have “a bit more pullback to go” with “plenty of bounces” before resuming their run. Related Reading: Analyst Says It’s ‘Time To Be Bullish On Ethereum’ As ETH Retests $2,700 Most of the market will experience volatility in the coming days as speculation and anticipation build up for the outcome of the US presidential elections, scheduled for next week. Analyst Michaël van de Poppe noted that most altcoins, including SUI, were in a correction period and explained how its retest of the $1.90-$2 support is “crucial for further upward momentum.” As of this writing, SUI is trading at $2.05, a 3.5% increase in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
SUI is gathering bullish steam as it heads toward a possible breakout, with a notable milestone of $2.1825 in sight. Recent market activity suggests an upswing could be on the horizon, following a strong rebound at the $1.5 support mark. If the bulls maintain their momentum, SUI’s path might lead to a significant price advancement, signaling a promising opportunity for traders and investors alike. However, the question remains; will the pressure be enough to push past this critical resistance? This analysis aims to examine SUI’s current bullish momentum and assess whether rising pressure could drive the price to a potential target of $2.1825. By analyzing recent price movements, support levels, and resistance zones, this piece seeks to provide traders and investors with insights into SUI’s capacity for a breakout SUI Bullish Surge Aims At $2.1825 Mark Following its recovery at $1.5, SUI’s price on the 4-hour chart has continued to build pressure, approaching the $2.18 mark with a focus on breaking past it. SUI has also moved above the 100-day Simple Moving Average (SMA), signaling a strengthening upward trend that could pave the way for a potential breakout. The 4-hour Composite Trend Oscillator shows bullish signs for SUI, with its SMA and signal lines rising above the zero line, indicating a growing positive trend. In addition, the widening spread between these lines implies strong support for a sustained uptrend, reflecting increased buying interest as the asset approaches key resistance levels. Related Reading: Analyst Sets $2.50 Target For SUI Following 30% Weekly Gain – Details Also, on the daily chart, SUI has demonstrated firm upward momentum, marked by a bullish candlestick pattern after a successful rebound at $1.5. Currently trading above the 100-day SMA, SUI’s position not only confirms an optimistic phase but also suggests that previous resistance levels may now act as support, creating a solid foundation for future gains. Finally, a detailed analysis of the Composite Trend Oscillator formation on the 1-day chart reveals fresh bullish movement for SUI. The indicator’s signal line is aiming to cross above the SMA line, a classic key indication suggesting robust buying interest. Positioned above the zero line, this crossover attempt indicates that positive sentiment is likely building, with the potential to drive prices more on the upside. Support And Resistance Levels To Watch On the upside, resistance around $2.18 presents the next hurdle for SUI. Successfully breaking above this level could pave the way for higher targets, including its all-time high of $2.36. A breach of this resistance would significantly increase the possibility of reaching new price milestones. Related Reading: SUI Eyes Bullish Breakout As Crypto Traders Go Long Above $2 – What’s Next? However, if the cryptocurrency fails to surpass the $2.18 resistance level, it may initiate a downward move toward $1.5. Should it break below this support, the decline could extend further to the $1.42 support level and beyond. Featured image from Shutterstock, chart from Tradingview.com
As SUI dips further into bearish territory, technical indicators are increasingly signaling a challenging path ahead. A key measure, the Relative Strength Index (RSI), has turned negative, suggesting that selling pressure is mounting and that more downside may be on the horizon. With SUI navigating this bearish shift, market participants are keeping a close eye on potential support levels, wondering if the asset can stabilize or if sellers will continue to drive prices lower. This analysis explores SUI’s recent entry into bearish territory, examining the implications of the RSI’s downward shift and the potential for more price declines. It also seeks to provide insights into the downside risks facing SUI by assessing key technical indicators and support levels, this piece. Market Overview: SUI’s Shift Into Bearish Territory On the 4-hour chart, SUI has shown strong bearish momentum, slipping below the 100-day Simple Moving Average (SMA) as it approaches the $1.4 mark printing multiple bearish candlesticks. The 100-day SMA, typically a significant support level, now acts as resistance, signaling a shift in sentiment where sellers have gained the upper hand. An analysis of the 4-hour Relative Strength Index (RSI) reveals that the indicator has now dropped to a low 23% level after a previous recovery attempt failed to hold at 52%. With the RSI now in the oversold zone, selling activity may be overextended, unless a significant influx of buying interest appears, SUI could remain under pressure, potentially leading to additional drops. Related Reading: SUI To Face Another Pullback Following 5.3% Dip, Analysts Forecast 30% Correction Also, on the daily chart, SUI is exhibiting a clear pessimistic path as it trends downward toward the $1.4 mark and approaches the 100-day SMA. The $1.4 level, alongside the 100-day SMA, acts as a crucial support area, and a break below these points could reinforce the current downtrend, potentially opening the door to further declines. Lastly, the daily RSI for SUI has dropped to 42%, significantly falling below the critical 50% threshold, which usually separates bullish from bearish territory. Typically, this decline highlights the strong bearish momentum, indicating that sellers are firmly in control and reflecting increasing pessimism about SUI’s price. Potential Price Targets: How Low Could SUI Go? As SUI continues its negative movement, traders need to pinpoint potential price targets. If the $1.4 support level is breached, SUI could fall to $1.23, where buying interest may resurface. An extended drop below this level could trigger a deeper correction toward other support levels. Related Reading: SUI Eyes Potential Pullback As RSI Flashes Warning: $1.4 Retest In Sight Conversely, should the cryptocurrency manage to hold its position above $1.4, it could indicate a potential reversal, enabling bulls to reclaim some control in the market thereby driving the price higher toward the $2.1 resistance level and beyond. Featured image from LinkedIn, chart from Tradingview.com
The Sui blockchain has launched a hub in Dubai which will act as an incubator for blockchain developers and entrepreneurs, one of its founding developers told CoinDesk in an interview.
SUI has lately attracted a lot of interest and peaked in its development. It finished the week at its all-time high price of $2.30 and ranked higher than top altcoins such as Polkadot (DOT), therefore ranking itself among the top 15 cryptocurrencies. Among those who support SUI, this achievement has inspired hope since they believe it will become a major competitor in the market. Related Reading: As Bitcoin Tops $66K, Fear & Greed Index Moves To Neutral—What’s Next? DeFi noted SUI’s price surge and $1 billion Total Value Locked (TVL). The coin ranks higher than Avalanche (AVAX) and Polygon (MATIC). Investors are noting SUI’s growing position in the DeFi market, with SUI projections showing a continuous positive trend and a whopping 240% increase over the next three months, $SUI passes $DOT. Congrats to those that listened to me. pic.twitter.com/FtU5vk8f8M — MartyParty (@martypartymusic) October 13, 2024 At the time of writing, SUI was trading at $2.04, down 4.3% in the last 24 hours, but sustained an 8.7% in the last seven days, data from Coingecko shows. Valuation Inquiries Arise The rapid rise of SUI has evoked excitement among many but it has also raised doubts. In fact, some analysts are questioning whether there is a justification in the prevailing market capitalization of the token to its real fundamentals. The rising value has sparked a debate because people are trying to measure SUI’s market capitalization in order to come up with underlying problems. Such an occurrence is not unusual for coins and even tokens on the rapid expansion corner; however, it also tends to instill some doubts into potential buyers. Insider selling is another worry. Significant transactions from a foundation wallet during the token’s recent rise have raised questions about its price sustainability. Divesting during a price spike may indicate insider insecurity, making investors doubt long-term prospects. SUI market cap currently at $5.6 billion. Chart: TradingView.com Comparison Of Fully Diluted Valuation The complexity of SUI’s current condition is exacerbated by its Fully Diluted Valuation. The FDV of SUI is $1.2 billion, far lower than Solana’s $4.7 billion. Several market experts claim that Solana could be mispriced because the fully diluted valuation of Solana is less than one-third that of Ethereum. This has led some to conclude that SUI is overvalued at this time. Such a comparison also raises the issue of possible mispricing in the market, which makes it necessary for investors to weigh the pros and cons before getting involved. At present, there is a competition among various cryptocurrencies and knowing the valuation of such projects relative to other tokens makes one comprehend better each of the tokens. Related Reading: Dogecoin Revival: Active Addresses Skyrocket To Highest Level In 8 Months What’s Next For SUI? Despite the concerns, SUI’s pictured development in the near future is optimistic. The examination of the movement of prices points out that an upward trend will occur since the estimates show that there will be a substantial increase in the market size in a few months. In the coming three months, the price of SUI is expected to shoot up by 244%, which attracts many hopeful investors. It is advisable for the investors to be careful. Considering the high volume of insider sales and concerns on valuations, the future might not be so rosy as it has been projected. Keeping track of market dynamics and technical analysis will be very important for addressing the risk that comes with the rapid rise of SUI. Featured image from Boxmining, chart from TradingView