- SUI price surged 15% to $2.91**, rebounding from a weekly low of **$2.29.
- Gains align with a broader crypto market recovery, driven by improved investor sentiment and easing geopolitical tensions.
- Key levels to watch: $3** (resistance) and **$2 (support).
The SUI token, native to the Sui layer-1 blockchain, has soared 15% in 24 hours, reaching $2.91** amid improved market sentiment. This uptick halts a month-long decline that saw the token drop from **$3.80 to April lows.
While bulls are optimistic, questions remain: Is this a lasting bullish trend or a bull trap?
Market Context: Why SUI Price Is Rising
Broader Crypto Recovery:
- Bitcoin (BTC) and major altcoins gained as geopolitical tensions eased.
- Fed Chair Jerome Powell’s remarks boosted investor confidence.
Ecosystem Developments:
- OKX Wallet partnered with Navi Protocol and Momentum to launch BTCfi on Sui, offering $2.5M in rewards.
- This initiative drove community engagement and demand for SUI.
Technical Analysis: Bullish or Bearish?
Bullish Signals
- RSI: Bounced from oversold, indicating room for growth.
- MACD: Potential bullish crossover.
- Key Resistance: $3.50** and **$4.13 (breakout targets).
Bearish Risks
- Descending Channel: Suggests lingering selling pressure.
- Critical Support: $2.43** (local low). A breakdown could push price to **$2.
SUI Price Prediction: What’s Next?
- Upside Scenario: A breakout above $3** could target **ATH ($5.35).
- Downside Risk: Failure to hold $2.43** may trigger a drop to **$2.
FAQs
Why did SUI price surge 15%?
- Improved market sentiment and OKX’s BTCfi initiative drove demand.
What’s the next resistance level for SUI?
- $3.50** is the immediate hurdle; **$4.13 is the next target.
Could SUI drop below $2?
- Yes, if bears break $2.43 support**, a fall to **$2 is likely.
Is SUI a good investment now?
- Depends on risk appetite. Watch $3** resistance and **$2.43 support for clues.
Conclusion
SUI’s 15% rally reflects renewed optimism, but key resistance levels and bearish patterns suggest caution. Traders should monitor $3** and **$2.43 for directional bias.
👉 Stay updated on SUI price action
### Keywords:
1. SUI price
2. Crypto market recovery
3. BTCfi
4. Sui blockchain
5. Technical analysis
6. Bull trap
7. OKX Wallet