SUI: Is Now the Time to Rebound to $4?
SUI faced a dip from ~$4 to near $3 after the Cetus Protocol hack. But with the issue largely resolved, could this be the strategic entry for a return to $4?
Technical Outlook: SUI is consolidating around $3.20-$3.30. A breakout above $3.36 is key to target the psychological $4 mark. The 50-day EMA near $3.40 is another hurdle. Be mindful of potential profit-taking.
Sentiment & Recovery: The swift, community-led Cetus recovery has boosted confidence. This resilience is positive, but continued security and ecosystem growth are crucial for sustained gains.
Fundamentals & $4 Target: SUI's strong tech and expanding ecosystem (DeFi, gaming) underpin its potential to revisit $4. Growing dApps and user base will drive this.
Considerations: Upcoming token unlocks (early/late June) might add selling pressure. Monitor on-chain activity and broader market trends closely.
Conclusion: The post-hack recovery offers a compelling scenario. SUI's return to $4 hinges on breaking technical resistance, managing unlocks, and continued ecosystem growth. Always DYOR. Not financial advice.