If the surprises in the crypto market are a show, then SUI is undoubtedly the most eye-catching protagonist this year! Soaring from $0.48 to $5.35, it has crushed star projects such as Ethereum and Solana with a 20% increase in 10 days, becoming the most noteworthy "dark horse in the cryptocurrency circle" in the new year. Next, can it continue to climb and break through the historical high? Have investors missed the opportunity to enter the market? Let's analyze the future potential of this dark horse in depth!
SUI’s strong performance: Why does it stand out among all the currencies?
Since November 2024, SUI has entered a steady upward channel mode, with bullish forces continuing to exert their strength, causing its price to rise all the way. In addition, the total locked value (TVL) of the project has exceeded US$2 billion, further consolidating its market position.
What’s more noteworthy is that 69.75% of SUI’s tokens are currently locked, and with tight supply, the potential for price surges has increased significantly.
Technical analysis: Can SUI hit a new high of $6.60?
RSI Remains Strong: The relative strength index (RSI) of SUI shows that its price trend remains bullish, with limited risk of a pullback.
Support and resistance: The current historical high is $5.35. If it breaks through successfully, it is expected to hit $6.60. If it adjusts, $4.75 will be the key support level, and if it falls below it, it may further fall back to $4.50.
In the short term, the upward trend of SUI remains clear, but we need to pay attention to changes in trading volume and market sentiment.
Investor Guide: Is now the right time to invest in SUI?
The token feature of a lock-up ratio of up to 69.75%, coupled with the project's potential in the NFT and DeFi fields, makes SUI still widely favored. The current volatility is more of a short-term reaction of the market to price adjustments. For long-term investors, it may be a rare opportunity to buy at a low price.
Short-term opportunities: A new round of increases may come after breaking through $5.35, with $6.60 being a potential target.
Downside Risk: Failure to hold the $4.75 support could lead to a deeper correction.
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