Latest Price Action: At the time of writing, STO/USDT is trading at $0.1253, marking a 2.87% intraday decline. Recent price movement has been volatile, with a downward trend evident over the past 24 hours.
SUI Price Outlook: Could a Rally Push It to $2.50?
SUI experienced a modest dip of 2.48% last week amid market fluctuations. Over the past two weeks, the token has been moving sideways, showing indecision in direction. However, crypto analyst Ali Martinez suggests a potential breakout may be near.
According to the 4-hour chart, SUI has been trading within an ascending channel since March 11. It is now testing the support line near $2.26. If it holds this level, a move toward the upper boundary of the channel at $2.50 is likely. A stronger buying trend could even push it beyond to $3.00. However, a breakdown below $2.26 may lead to a drop toward $1.75.
Adding to the optimism, Canary Capital has submitted an application to the SEC to launch an SUI spot ETF, following a Delaware trust registration earlier this year—indicating increasing institutional interest.
Current Price: $2.28 (+0.84% daily) Monthly Performance: -30.21% Trading Volume: Down 31.69%
Despite the current pullback, some analysts view this as a strategic entry point, considering SUI’s previous high of $5.35 and expectations of a continued bullish cycle.
Buy and Trade Here on $STO
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