The post SUI Price Analysis—SUI Breaking Out, May Trigger a 25% Upswing to Reach $3.3 appeared first on Coinpedia Fintech News
SUI volume is spiking up as the price is gaining huge momentum after rebounding from the local lows close to $2.5. This price action demonstrates healthy accumulation with decreasing volatility while maintaining higher lows since the local bottom. The rise is led by the Walrus Protocol mainnet launch, which is a popular decentralized storage network powered by the SUI blockchain. Therefore, the price is expected to trigger another 25% upswing and rise above $3 ahead of the quarterly close.
The SUI price has surged by over 6% to 7% since the early trading hours and has surpassed giants like Shiba Inu and Hedera. With this, the token has become one of the top layer-1 cryptos with a potential of displaying a 100x rally for the upcoming bull cycle. The token underwent a tremendous retest and is displaying huge buying opportunities at these levels. Therefore, this suggests that the SUI price rally has just started, and hence, a new ATH can be expected in April 2025.
After plunging from the highs, the price remained consolidated within a falling wedge that was broken during the previous trading day. The bullish start for the day, mainly above the resistance of the wedge, is expected to keep up the rally until the end. Besides, the RSI is incremental, and the DMI underwent a bullish crossover. However, the ADX continues to plunge, indicating a drop in the strength of the rally. Therefore, the SUI price may remain consolidated around the local resistance zone of around $2.8 and $2.85 until the platform does not receive a huge buying volume.
The SUI price has retraced much deeper and smashed a major support zone, and hence, the rebound is expected to attract a huge liquidity onto the platform. Moreover, the Walrus Protocol mainnet launch is also seen as a major catalyst that may keep up the momentum of the rally for a long time. Therefore, the SUI price has begun to breakout and is believed to rise above $3 before the end of the month. With this, the price is expected to maintain a strong ascending trend and reach a new ATH in the coming days.