SUI Price Surges 14% in a Day; Analysts Eye New ATH of $2.60
The post SUI Price Surges 14% in a Day; Analysts Eye New ATH of $2.60 appeared on BitcoinEthereumNews.com.
In the last 24 hours, Sui (SUI) has demonstrated a strong upward movement, catching the attention of analysts and traders alike. The cryptocurrency, which opened the day at $1.1885, soared to a peak of $1.39 before stabilizing around $1.35 at the time of writing. SUI/USD 1-Day Chart (Source: CoinMarketCap) According to CoinMarketCap data, this marks a notable 14.38% increase in its value compared to the previous day’s closing price. This sudden surge has analysts forecasting a potential new all-time high (ATH) for the token, setting optimistic targets for its future performance. Analyst Predicts SUI to Hit $2.60 in Coming Days Market analysts are increasingly optimistic about SUI’s price movement, with predictions of a new all-time high in sight. One prominent voice, Bluntz Capital, projects that the token could reach a price of $2.60 shortly. According to his analysis, the altcoin recently broke out of a significant 105-day downtrend, experiencing a 237.5% increase in value from $0.40 to $1.35. Bluntz highlighted that the token’s breakout has been accompanied by rising trading volume, signaling strong market interest and investor confidence. Furthermore, the token has surpassed key resistance levels without significant retracements, reinforcing the view that it could continue its upward trend. $SUI is seriously gonna continue to rip so hard from here, its legit free money imo. these slow grinding up channel breakouts on volume almost always signal a strong impulse is underway. the leaders continue to lead dont fuck this up 👇https://t.co/ZlarpcTVYY pic.twitter.com/hfuXryIW5x — Bluntz (@Bluntz_Capital) September 19, 2024 The analyst emphasized that while Relative Strength Index levels indicate the token is overbought, the overall outlook remains bullish. Bluntz predicts the next significant resistance level to be around $2.60. Should SUI continue its upward trajectory, this price point could mark a new all-time high for the token. On-Chain Data Confirms Bullish…
Filed under: News - @ September 19, 2024 3:25 pm