Since coming onto the scene in mid-2023, Sui ($SUI) has wowed the crypto space as a technologically advanced layer 1 that can compete with all others. How high can $SUI go?
$SUI parabolic rise
Source: TradingView
The weekly chart for $SUI (SUI/USD) shows quite a parabolic rise in price. An earlier cup and handle pattern broke out and the measured move has already been achieved. It looks like the price is heading for the 2.618 Fibonacci, with a possible pause and consolidation to come around this level. The 3.618 Fibonacci is a future target at $6.70.
$SUI makes beautiful support against $BTC
Source: TradingView
Not many cryptocurrencies are outperforming $BTC so far in this bull market, but $SUI is definitely one of them. The monthly chart above shows how the price (SUI/BTC) has found beautiful support at 0.000035 BTC, and is now rising rapidly against the king of the cryptocurrencies.
$SUI huge breakout against $ETH
Source: TradingView
Against $ETH (SUIUSD/ETHUSD) $SUI is even more impressive. A breakout from what was resistance at 0.0007 ETH has now increased to a 78% gain for $SUI in this pairing.
$SUI breaks downward trend against $SOL
Source: TradingView
Finally, on the 2-week chart against $SOL (SUIUSD/SOLUSD), $SUI can be seen to be breaking out of a downward trend. The trend break could be a strong one, and there is the possibility that the price will reach resistance at 0.0245 SOL. Further prices in SOL are on the chart.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
