Sui Price Eyes $10 as Bullish Breakout Gains Momentum
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.
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 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.
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.
