SUI Shows Relative Strength Against Bitcoin – New Uptrend In Play?
Summary
SUI has experienced a significant price increase of over 79% since hitting a low of $1.71, establishing itself as a leading Layer-1 blockchain. The current trading price is $3.53, driven by strong bullish sentiment. Analysts highlight SUI's relative strength against Bitcoin, marking a notable performance among altcoins in a cautious market. Key resistance levels include $3.20, which aligns with the 200-day moving average; maintaining this level is crucial for sustaining bullish momentum. A breakthrough above $4.00 could lead to new all-time highs. However, ongoing US-China tensions and market uncertainty pose risks that could impact SUI's performance and the broader crypto market.
