As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed countless bull runs and bear markets. However, the current surge in SUI is one that catches my attention, not just because of its impressive performance but also due to the underlying fundamentals that seem to be in place.
Among the limited number of investments, SUI stands out as the one that’s experiencing an isolated surge upward, while some cryptocurrencies are finding it challenging to regain their previous record-breaking peaks in the market.
Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17 yesterday with a 24-hour high of $2.13.
Despite a 4.3% drop in its value over the last 24 hours, currently priced at $1.99, renowned crypto expert CryptoBullet is weighing in on his social media platform X, discussing if this could be an opportune moment for investors to offload SUI.
Should You Sell Your SUI Now?
Although selling SUI during this price decline might appear attractive to some, CryptoBullet advises against it. In fact, the analyst expressed, “Selling SUI at this point may seem appealing, but I believe it’s premature according to my view.
In simpler terms, the analyst stated that the cryptocurrency has undergone its fourth attempt at reaching the $2 mark, a significant technical milestone. This repeated testing makes it more probable for the level to be breached. CryptoBullet suggests this could lead to an optimistic surge, hinting at the development of a Cup and Handle structure in the price chart.
Furthermore, CryptoBullet spotlighted several notable achievements of SUI that strengthen its bullish argument. These milestones include:
Strong Growth Ahead For Ecosystem?
Analyst ‘Easy’ on X shares similar enthusiasm as CryptoBullet, likening the potential growth of SUI to Solana’s extraordinary surge in 2021. In essence, this analyst suggests that overlooking SUI could be equivalent to ignoring Solana back in 2021.
As a researcher, I’m highlighting the robust growth in SUI’s key performance indicators such as Total Value Locked (TVL) and trading volume. This upward trend might suggest that the cryptocurrency is gearing up for a substantial bullish surge.
Additionally, the analyst pointed out a surge in the popularity of meme-based cryptocurrencies within the network. Some of these tokens have experienced a significant jump in worth, with a least a 250% rise in value during the past 24 hours.
As a crypto enthusiast, I’ve been keeping an eye on SUI and it feels like watching Solana in 2021 all over again. It seems that SUI is poised to take charge during this entire bull run. The data across various metrics suggests massive growth within the SUI ecosystem, making it a promising investment opportunity.
Compared to other blockchains, the shift from TVL (Total Value Locked) to Volume is experiencing an extraordinary level of popularity that stands out distinctly.
The…
— Easy (@EasyEatsBodega) October 7, 2024
With strong belief in SUI’s potential expansion, it can be reasonably inferred that the present cost might offer an excellent deal for long-term investors. In fact, he openly disclosed his intention to purchase additional SUI during market declines, aiming for a lofty price point of $10 for this asset in the future.
Read More
Sorry. No data so far.
2024-10-09 15:05