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Sui Crypto has had a hell of a week. A two-hour crash marked its first real stumble, but just as fast as it faltered, it’s back on its feet, eyeing the next big move with renewed swagger.
In this article we’ll tell you why Sui’s recent bull cross confirmation means it could hit $4 before December.
Sui Crypto Technical Analysis
- Support: $3.20 – a solid floor established after the recent rally, coinciding with the 20-day SMA.
- Resistance: $3.50 – the upper Bollinger Band and a psychological barrier that could cap short-term gains.
SUI, a new layer 1 ‘Solana killer,’ is about to go ballistic after confirming a bullish breakout with a golden cross and a validated cup-and-handle pattern.
Meanwhile, the Bollinger Bands, which measure volatility, have widened, confirming increased volatility toward the upside. The price is riding near the upper band, signaling sustained bullish momentum.
$3.46 – a key resistance level, is near breaching level which would confirm the “bullish golden cross” formation. Additionally, MACD line is comfortably above the signal line, showing bullish momentum.
The price for Sui is forming a textbook cup and handle pattern, with the breakout likely targeting the $3.60–$3.70 range. This pattern suggests accumulation and a continuation of the uptrend.
If momentum sustains, SUI could aim for $4 in the short term, while any pullbacks may find support at $3.20.
Another Sui Update : Connecting Bitcoin With Sui
Sui had another important update this year with Babylon Labs, and Lombard Protocol is teaming up to connect Bitcoin with Sui. Their plan is to pull Bitcoin liquidity into the Sui ecosystem, turning LBTC into a key piece of the defi puzzle.
Come December, Bitcoin holders can stake their BTC through Babylon’s protocol and get LBTC, a liquid staking token native to Sui. The move aims to crack open Bitcoin’s $1.8 trillion liquidity, fueling lending, borrowing, and trading in Sui’s defi jungle. Lombard’s track record isn’t flimsy either—on Ethereum, their LBTC token already crossed $1 billion in minted assets.
Infrastructure support will be handled by Cubist, ensuring smooth operations for staking, minting, and bridging.
SUI is aiming to be one of the standout layer 1s this cycle. Keep your eye on it!
EXPLORE: Most NFTs Are ‘Dead’ According to New 2024 Report
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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