Sui price has seen a notable rally over the past year, emerging as one of 2024’s standout performers. After reaching an all-time high earlier this year, SUI experienced a mid-year correction before regaining bullish momentum. As the market recovers, SUI continues to show strength, eyeing a potential breakout toward $10. Analysts remain optimistic about sustained upward momentum in the coming months.
Sui Price Targets $10 with Key Levels Signaling a Breakout
Sui price has emerged as a market leader among altcoins, showcasing remarkable gains in the current cryptocurrency cycle. Over the past year, Sui has delivered a return exceeding 600%, significantly outperforming competitors like Binance Coin (BNB), which recorded a 132% return within the same timeframe.
According to market analysts, key technical levels indicate that the top altcoin may be gearing up for a breakout. With its price already climbing above $4.50, analysts predict a possible surge toward the $10 mark if the current momentum persists.
Source: X
SUI Technical Analysis
Sui appears positioned to join the top 10 cryptocurrencies by market capitalization in the coming weeks. Currently ranked 14th, the SUI price is trading at $4.48 after a recent surge. Despite this, the coin has lost 5% over the past week, struggling to maintain levels above $5 during its recent rally.
The broader cryptocurrency market has experienced a rebound, with leading tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP showing resilience. Sui price has been moving within an ascending channel, recently bouncing off the lower trendline near $4.40. The price stabilizes above $4.50, indicating potential for further gains.
A sustained hold above $4.50 could propel the Sui price prediction toward $5.00 and potentially $5.50 if bullish momentum continues. Analysts suggest a move to $10 would require over a 2x surge. However, a break below $4.40 may invalidate this trend, risking a decline to $4.20. The MACD indicator reflects a bullish outlook for Sui’s price trajectory.
Sui Price Chart: TradingView
SUI price sees a notable surge as the Layer 1 blockchain records significant growth in Total Value Locked (TVL), currently standing at $1.87 billion. This milestone reflects a crucial turning point for Sui Network’s ecosystem and investor confidence.
Source- DeFiLIama
Sui price is positioned for potential gains, with key levels signaling a breakout. A move toward $10 could solidify its standing as a market leader. However, maintaining support above $4.50 will be critical for sustained momentum.
The post Sui Price Eyes $10 as Bullish Breakout Gains Momentum appeared first on CoinGape.
