SUI Token Reclaims Key $2.40 Support After 10% Price Breakout
Sui Network Token (SUI) Price Movement
SUI has experienced a 10% price breakout, reclaiming the $2.60 resistance level. Key points include:
- SUI retested the $2.60 resistance for the first time in nearly three weeks.
- The token fell over 50% from its January all-time high ($1.96) but regained momentum recently.
- Institutional adoption includes partnerships with World Liberty Financial and a filing for an SUI ETF by Canary Capital.
- SUI rose to $2.45, with potential to break higher if it holds above $2.40.
- Analysts suggest a bullish trend may lead to new highs, targeting $2.80 based on market structure.
Future Projections for SUI
Recent observations indicate:
- SUI reached a 20-day high of $2.65 before retracing.
- A confirmation of the breakout could lead to attempts at reclaiming past downtrends.
- Historical patterns from 2023 show potential for new ATHs following similar breakouts.
- Currently, SUI trades at $2.58, showing a daily increase of 5.5%.
