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SUI jumped by 14 % in the last 24 hours amid market recovery. The distinctive code tries to recover the main support level, which can pave the way for re -testing its latest highest level (ATH). After its recovery, a 300 % VANECK expert expected an SUI price this year.
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Sui re -testing the main support level
The encryption market is heading towards the weekend after the bloody Monday. The correction witnessed that Bitcoin loses the area of $ 100,000, and most cryptocurrencies were largely regained from their highest levels in January.
In the midst of the decline, SUI lost the support of the first time since December, as it decreased to its lowest price in more than a month. The cryptocurrency was one of the most powerful Altcoins in this session, as it leads the market throughout the Q2 2024 Retraces and Q3 Rally.
This year, SUI also increased as one of the leading cryptocurrencies, increasing over the $ 5 barrier and topped its latest highest level (ATH) of $ 5.36 at the beginning of the month. Since then, the distinctive symbol has been homing between $ 4.05 to $ 5.20.
After a decrease on Monday to $ 3.49, the brand of $ 4 was resistance, as the cryptocurrency failed to overcome it today. SUI jumped 9.8 % to recover the main support area, wore 5 % to $ 4.2 on Thursday morning.
Cognitive analyst Karl Ronville male The distinctive symbol tests the level of upwards again after losing it as support. This rising line has been a major support in the past few months, but it was a resistance after the last correction.
To return this line to support and continue the climbing path, SUI should be the highest mark of $ 4.18. Restoring the upward line can also pay the SUI price to re -test the $ 5 barrier.
Eyes only the eyes of double numbers this year
Patrick Bush, chief investment analyst in the Asset Manager, shared his view of SUI’s long -term performance in a modern competitive analysis against APTOS (APT), which is often compared.
According to the analyst, SUI was appointed on It excels APT this year due to the network’s advantages, efficiency and scaling capabilities, which have been translated into a better ecological system into market makers:
We believe that the evidence supports SUI on Aptos due to the advantages of performance and scaling capabilities. We find that it currently provides potential that is not repeated in Aptos. Among these are local graphics markets, experimental fish, and rapid path. In addition, SUI may offer a range of technical capabilities and economics that prove to be more attractive to market marks, which leads to a better ecological system.
The analysis confirms that Sui’s attractiveness has attracted symbolic investors and applications, which leads to a better symbolic performance and a more vibrant ecosystem.
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Bush also pointed out that the cryptocurrency leads to retail investments: “In fact, in the past 90 days, the global research of SUI was higher than it was in Solana in 17 days and higher than ETHEREUM in 16 days.”
The analyst expected the code to reach the market value of $ 61 billion by the end of 2025, which will witness the price to about $ 16, an increase of 300 % over the current range.
As of the writing of these lines, SUI is trading at $ 4.13, an increase of 14 % in the daily time frame.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
