SUI’s performance in recent months has caught the market’s attention, and many are wondering: could we be seeing the beginning of a trajectory similar to that of Solana (SOL) during the 2021 bull run?
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The parallelism with Solana
SUI, a prominent Layer-1 token, has already appreciated by over 75% in the past year, even surpassing SOL, which has risen by around 52% in the same period. But what really stands out is the similarity in SUI’s price action to Solana’s behavior prior to its parabolic rally.
During the 2021 bull run, $SOL followed a well-defined pattern: a sharp rally, followed by a deep correction, where it found support at the moving average and gathered strength before a massive breakout. Now, SUI is exhibiting a similar dynamic, having just completed a similar correction and found support at the same type of technical level that drove $SOL .
Is a breakup near?
If this pattern does indeed repeat itself, $SUI could be on the verge of breaking out of the resistance zone between $4.91 and $5.37. If this happens, the path could be clear for a surge towards the $9–$10 range in the coming months, bringing significant upside potential.
But be careful!
Despite the similarities, it is essential to remember that the cryptocurrency market is highly volatile, and nothing is guaranteed. If SUI fails to hold its key support levels or falls below the moving average, this thesis may be invalidated. Risk management is essential for those who want to take advantage of opportunities without exposing themselves to excessive risk.
What do you think? Can SUI follow in SOL’s footsteps and deliver an explosive rally? Leave your opinion in the comments and share this analysis with anyone who needs to know about it!
Source: CoinsProbe
Disclaimer: This content is not investment advice. Please do your own research and be fully informed before making any decisions.