SUI Remains Above $2.26 Support, Analysts Predict Price Rally to $2.50

SUI has experienced a 2.48% loss over the past week, remaining in consolidation with no clear breakout signals. Crypto analyst Ali Martinez highlights potential short-term gains based on recent price movements.

Key Points for SUI's Price Action

SUI is currently trading at $2.28, up by 0.84% in the last day.
The cryptocurrency has been moving within an ascending channel since March 11.
Crucial support level identified at $2.26; maintaining above this level is key for bullish momentum.
Potential upside target of $2.50 if support holds, with a further target of $3.00 on strong demand.
A dip below $2.26 could see prices fall to $1.75.
Trading volume has decreased by 31.69%, indicating reduced market participation.
SUI is down 30.21% over the past month amid bearish trends.
Recent application for a SUI spot ETF filed by Canary Capital suggests bullish institutional interest.
SUI previously reached an all-time high of $5.35 from Q4 2024 to early January 2025.

Analysts consider the current downtrend a potential buying opportunity as the market cycle may still have room for growth.