SUI Breakout To $4 Imminent? Analyst Says A Correction To This Level Could Come First
SUI has surged nearly 85% over the past two weeks, breaking the $3.80 barrier and recovering from a multi-month downtrend. After losing key support levels and dropping over 68% from its January high of $5.35 to a six-month low of $1.71, SUI attempted to reclaim the $3.00 barrier in March but failed. Following a token unlock of 88.34 million SUI tokens, the price rose from $2.11 to a two-month high of $3.87 before retracing 8.5% to $3.21. Recently, SUI's price increased by 5.2%, recovering the $3.40 support. Analysts suggest SUI could reach the $3.90-$4 resistance if Bitcoin holds above $94,000. A potential retest of the $3.25 support level is anticipated, with analysts indicating that SUI may be in an accumulation phase before a breakout. Currently, SUI trades at $3.46, reflecting a 56% increase over the month.
