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SUI Rises 8% Amid Market Retrace, Will The Joy Be Short-Lived? Newsbtc 07 сен 2024

SUI Rises 8% Amid Market Retrace, Will The Joy Be Short-Lived? 📈

SUI showed a remarkable performance on Friday amid the market retrace. Following Bitcoin’s drop to the $55,000 mark, the cryptocurrency was among the few tokens showing green numbers with an 8% surge. The token’s performance, alongside the network’s developments, has fueled a bullish sentiment among investors. However, some analysts remain cautious of the cryptocurrency, warning that the joy could be short-lived.

SUI was among the best performers throughout August, registering 50% surges amid the market downturns. The cryptocurrency’s resilience last month was fueled by several factors, including network updates, large over-the-counter (OTC) bids, and “strong holdership through big unlocks.” Moreover, Grayscale launched its investment trust, Grayscale SUI Trust, based on the cryptocurrency. As a result, the token’s bullish momentum propelled the price toward key levels not seen since mid-June.

Throughout August, the token retested the $1 resistance level several times, ultimately failing to reclaim it as a support level. The token surged 8% on Friday morning after reclaiming support at the $0.8 level. SUI is currently the largest gainer among the top 100 cryptocurrencies, displaying jumps in various timeframes.

Analysts like Alex Clay and Yuriy believe SUI could target higher resistance levels if it consolidates above current support zones. Clay sees potential mid and long-term targets of $3.3 and $5, while Yuriy points out a bullish flag formation. However, failure to hold key support zones could lead to a price drop.

Altcoin Sherpa suggested caution, noting that the upcoming token unlock in October might halt the bullish momentum. Despite the recent performance, the token may not be a long-term hold.

Булак: www.newsbtc.com ↗

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Will U.S Elections Day Spark Sui Price Breakout to $8? Coingape 17 саат мурун
Will U.S Elections Day Spark Sui Price Breakout to $8?
SUI Price’s 21% Crash This Week Fails to Shake Bullish Traders Beincrypto 1 апта мурун
SUI Price’s 21% Crash This Week Fails to Shake Bullish Traders
Will SUI Price Hit $100 Despite $400M Insider Selling Allegation? Coingape 2 апта мурун
Will SUI Price Hit $100 Despite $400M Insider Selling Allegation?
Will SUI and Pyth Network Witness 2x Surge This Uptober? Coinpedia 2 апта мурун
Will SUI and Pyth Network Witness 2x Surge This Uptober?
SUI Price Weakens as TVL Surge Reaches Plateau Beincrypto 2 апта мурун
SUI Price Weakens as TVL Surge Reaches Plateau
SUI Bulls Look to Shake Off FUD, Set Sights on 20% Rally Beincrypto 2 апта мурун
SUI Bulls Look to Shake Off FUD, Set Sights on 20% Rally
SUI Price Gains 139% in 42 Days: Can It Reach $2.07 in the Next Rally? Coinpedia 16 сен 2024
SUI Price Gains 139% in 42 Days: Can It Reach $2.07 in the Next Rally?
Attention Traders; Here is the Real Winner–Regardless of SUI Price Spikes or SEI Coinpedia 27 сен 2024
Attention Traders; Here is the Real Winner–Regardless of SUI Price Spikes or SEI
SUI and FET With 30% Growth In Last 7d, Is This The Start of Crypto Market Recovery? Bitcoinhaber 13 сен 2024
SUI and FET With 30% Growth In Last 7d, Is This The Start of Crypto Market Recovery?
SUI Network Attracts Strong Demand as Coin Prices Surge Cointurk 4 апта мурун
SUI Network Attracts Strong Demand as Coin Prices Surge
Investors Feel Hope with Bluntz’s Optimistic Predictions for Sui and Bitcoin Cointurk 20 сен 2024
Investors Feel Hope with Bluntz’s Optimistic Predictions for Sui and Bitcoin
Crypto Strategist Predicts Significant Price Surge for SUI Cointurk 3 апта мурун
Crypto Strategist Predicts Significant Price Surge for SUI
SUI’s Market Movements and Analyst Predictions Cointurk 09 сен 2024
SUI’s Market Movements and Analyst Predictions
Analysts Highlight SUI’s Unexpected Rise Despite Market Downturn Cointurk 08 сен 2024
Analysts Highlight SUI’s Unexpected Rise Despite Market Downturn
Sui Network Boosts Its Value with Rising DeFi Demand Cointurk 23 сен 2024
Sui Network Boosts Its Value with Rising DeFi Demand
Analysts Assess Recent Developments in SUI and EIGEN Coins Cointurk 4 апта мурун
Analysts Assess Recent Developments in SUI and EIGEN Coins
Considering the Current Market Sentiment: Could SUI Experience a 20% Drop if Price Fails to Hold Above $2.2? Coinotag 4 апта мурун
Considering the Current Market Sentiment: Could SUI Experience a 20% Drop if Price Fails to Hold Above $2.2?
SUI’s Potential Rise Amidst BTC Dominance: Could Layer-1 Tokens Thrive Again? Coinotag 1 апта мурун
SUI’s Potential Rise Amidst BTC Dominance: Could Layer-1 Tokens Thrive Again?
SUI Skyrockets 115% with USDC Integration as Memecoins Boost Network Activity Coinotag 04 окт 2024
SUI Skyrockets 115% with USDC Integration as Memecoins Boost Network Activity
SUI Token Declines 11.7% with Broader Sui Ecosystem Downtrend Coinotag 04 окт 2024
SUI Token Declines 11.7% with Broader Sui Ecosystem Downtrend
SUI Price Outlook: Can Recent Net Inflows Sustain Momentum Against Solana and Ethereum? Coinotag 2 күн мурун
SUI Price Outlook: Can Recent Net Inflows Sustain Momentum Against Solana and Ethereum?