$SUI 🚨 SUI Coin Eyes 17% Jump 🚨
Over the last two weeks, SUI has jumped nearly 85%, breaking above the crucial $3.80 barrier and recovering from its multi-month downtrend. During the Q1 market retraces, SUI lost key support levels and retraced over 68% from its January high of $5.35 toward its $1.71 six-month low.
In March, the cryptocurrency attempted to reclaim the crucial $3.00 barrier, driven by the news of institutional adoption, but failed to confirm the breakout.
Before its recent token unlock, the cryptocurrency saw its price rise from the $2.11 mark and reclaim the $3.00 resistance for the first time since February, rallying to a two-month high of $3.87.
Its bullish momentum slowed after the unlock of 88.34 million SUI tokens, worth around $300.4 million, on April 30. The cryptocurrency saw an 8.5% retrace, dropping from $3.51 to $3.21.
On Monday, SUI’s price jumped 5.2%, recovering the $3.40 support as the recent selling pressure decreased. Analyst AMCryptoAlex considers that the altcoin could hit the $3.90-$4 resistance after the unlock, if the flagship crypto, Bitcoin, holds the $94,000 mark.
Meanwhile, analyst Lennaert noted that SUI could see a bullish continuation of its recent performance after retesting the $3.20-$3.25 support zone and bouncing.
“If momentum flips, we’ll be testing the highs in no time. SUI repeatedly proved it doesn’t need much to pump hard. The team keeps on building, and it’s already growing to be one of the most promising ecosystems,” the analyst concluded.
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