SUI Seeks Breakout with Analysts Predicting $10 Price Target

Sui (SUI) Price Update

Sui (SUI) aims to reclaim the $3.90-$4.00 resistance area after a recovery from recent lows and growing institutional interest.

On Tuesday, SUI increased by 7.4% following news from institutional investors.
The cryptocurrency has been trading between $2.33-$4.00 since Q2, reaching a seven-month high of $4.44 two weeks ago.
After a 27% drop in early August, SUI rebounded 20% from this month's lows, currently at $3.91.
Grayscale Investments launched two new products related to the Sui Ecosystem on August 12, expanding its offerings.
The Grayscale DeepBook Trust and Walrus Trust are now available for daily subscriptions for eligible investors.

Analyst Sjuul suggests SUI may be forming a bullish "3 drives" pattern, indicating potential upward movement towards $5.00.
Crypto Rand noted consolidation after a local breakout, predicting targets of $5.00 and potentially up to $10.00.
Analyst Alex Clay identified a possible cycle top of $11.7, citing a strong higher timeframe formation and imminent breakout potential.

SUI is currently trading at $3.91, reflecting a 12% increase over the month.