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The cryptocurrency market is heating up, and layer-1 token Sui (SUI) is among the highlights! After a 27% correction in the past 30 days, the altcoin has surged over 7%, fueling expectations of a potential turnaround.
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SUI defies the downtrend
The 4-hour chart shows that SUI was stuck in a descending channel, falling from $5.36 to a low of $2.40. However, over the past seven days, the cryptocurrency has bounced back strongly and broken out of this structure around $3.45, taking the price to a high of $3.66 before pulling back.