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SUI Eyes Breakout : Can It Hit $40 Amid Bullish Momentum?

Veronicah Peninah by Veronicah Peninah
March 12, 2025
in Binance Feed, Market
Reading Time: 4 mins read
SUI Eyes Breakout Can It Hit $40 Amid Bullish Momentum
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  • SUI’s recent 3.77% price surge indicates short-term market optimism from heightened trading levels and increasing consumer interest.
  • The current market conditions are defined by important price levels at $2.09 which act as support and $2.29 which acts as resistance.
  • A bull pattern nearby suggests upcoming price breakout and potential targets between $40–$41 if the upward trend continues.

Sui is an open and decentralized smart contract platform that plays a vital role in the crypto ecosystem. It allows users to participate in network governance and earn rewards through staking.With this innovative feature,Sui has seen notable price increase recently.

Source:Coinmarketcap

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The current trading price for Sui is $2.25  while its market dominance stands at 0.19% with a total market cap of $5.21 billion and a trading volume of $1.83 billion over the previous day. The market shows increasing activity as the price of Sui rose by 3.77% throughout the past 24 hours.

Key Support and Resistance Levels Amid Market Volatility

The 24-hour price range indicates that SUI support is at $2.09  and the resistance at $2.29, highlighting a moderate level of volatility.The upward price movement (+1.5%) suggests a short-term bullish trend, likely driven by increased demand or strong buying pressure. 

SUI may rise above $2.30 to potentially reach $2.35 if bullish trends persist along with robust market sentiment.  However,bearish demand can drive SUI to fall to $2.15 and potentially reach as low as $2.09 in support levels. A breakdown below $2.09 might trigger further declines towards $2.00, especially if market sentiment weakens.

SUI Poised for Breakout: Bullish Pattern Forming

According to analyst CryptooELITES,Sui is sitting in a prime buying zone and an upward move  is about to start soon with a mid-term target being $40. The Sui chart illustrates a cup and handle pattern forming in the SUI/USDT market, which is typically a bullish continuation signal. 

SUI Mid-Term Target: $40

Technically, we are sitting in a prime buying zone. I expect an upward move to start soon!#SUI $SUI #Crypto #Sui $Sui pic.twitter.com/bN4e7cdpCX

— @CryptoELlTES (@CryptooELITES) March 12, 2025

The price has tested a key horizontal resistance zone ($2.73) multiple times before a potential breakout. The rounded bottom formations indicate strong accumulation, suggesting growing bullish momentum. The target price is projected at $41, implying a significant upside move. If the price holds above support, further gains could materialize. However, a failure to hold this level may lead to a retest of lower supports. 

SUI’s recent price action and bullish chart patterns suggest strong upward potential, with a possible breakout.If momentum sustains, SUI could surge higher, but a breakdown may lead to lower support retests.

Tags: Altcoin News

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