SUI Experiences 6% Dip, However Predictions Indicate a Rise to $7

Sui (SUI) experienced a 6% decrease, trading at $3.81, following heavy liquidations across major exchanges. Despite this, market charts from Ali Martinez indicate a potential rise in price, with a breakout above the $3.57 Fibonacci level suggesting a strong support base. Analysts project an upward trajectory to $4.90, a short-term pullback, and an eventual surge to between $6.90 and $7.00 in the coming weeks.

The total value locked in Sui-based DeFi protocols is at $2.150 billion, presenting a near-record level despite a 4% dip within 24 hours. Additionally, 21Shares has listed two new crypto exchange-traded products on the SIX Swiss Exchange, expanding investor access across European markets.