{"id":20203,"date":"2025-03-27T08:30:35","date_gmt":"2025-03-27T08:30:35","guid":{"rendered":"https:\/\/cryptd.in\/en\/sui-reclaims-key-2-40-support-amid-breakout-is-a-new-high-coming\/"},"modified":"2025-03-27T08:30:35","modified_gmt":"2025-03-27T08:30:35","slug":"sui-reclaims-key-2-40-support-amid-breakout-is-a-new-high-coming","status":"publish","type":"post","link":"https:\/\/cryptd.in\/de\/sui-reclaims-key-2-40-support-amid-breakout-is-a-new-high-coming\/","title":{"rendered":"SUI Reclaims Key $2.40 Support Amid Breakout \u2013 Is A New High Coming?"},"content":{"rendered":"

Sui Network\u2019s native token, SUI, has reclaimed a crucial level after its 10% price breakout. The token has shown bullish momentum over the past few days, climbing to weekly highs on Wednesday. Various market watchers suggested the momentum could send the cryptocurrency to new highs in Q2.<\/p>\n

\u00a0SUI Reclaims Key Breakout Level<\/h2>\n

Today, SUI, one of the cycle\u2019s leading tokens, retested the $2.60 resistance for the first time in nearly three weeks after reclaiming a key support zone on Tuesday. The cryptocurrency has lost several crucial levels during the Q1 2025 retraces, falling over 50% from its January all-time high (ATH) to a four-month low of $1.96.<\/p>\n

However, it has regained momentum amid institutional adoption, including its partnership<\/a> with World Liberty Financial (WLFI), US President Donald Trump\u2019s crypto venture, and Canary Capital\u2019s recent filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).<\/p>\n

The cryptocurrency moved toward the $2.45 mark in the following days, suggesting that holding this level could send SUI to the next crucial barrier. After pulling back to $2.20, the token\u2019s momentum<\/a> resumed on Saturday, rising 13% in the past week after printing five consecutive green candles.<\/p>\n

Amid its performance, some analysts noted that SUI reclaimed the key $2.40 support, which served as a significant resistance during the post-US elections breakout and a bounce zone during the February retraces.<\/p>\n

Analyst Mich\u00e4el van de Poppe suggested<\/a> that the token is \u201cone to keep an eye on,\u201d highlighting that the \u201ctremendous\u201d retest of the high timeframe support \u201cindicates that we\u2019re likely going to expand to the upside from here.\u201d<\/p>\n

\"SUI<\/p>\n

Is It Ready For New Highs?<\/h2>\n

In the past 24 hours, SUI surged 10% to the $2.60 resistance, hitting a 20-day high of $2.65 on Wednesday before retracing. As various market watchers pointed out, this price action has seen the token break out of a multi-month falling wedge pattern.<\/p>\n

A retest and confirmation of the breakout level could propel the token to attempt to reclaim its two-month downtrend. Analyst Sjuul from AltCryptoGems considers<\/a> that the cryptocurrency should be \u201cready to go\u201d to the $2.80 mark, based on its \u201cbullish market structure and nice strength.\u201d<\/p>\n

Previously, Ali Martinez suggested<\/a> that after reclaiming the $2.45 level, SUI would be poised for a 15% move to this area.<\/p>\n

Moreover, the token could also surge toward a new high if history repeats itself. Since 2023, SUI has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which propelled the cryptocurrency to new ATHs in the coming months.<\/p>\n

Meanwhile, trader Crypto Bullet noted<\/a> that the cryptocurrency has recently reclaimed the 365-day Exponential Moving Average (EMA) after trading below it over the past few weeks. According to the trader, holding this level as support could impulse the token\u2019s rally toward its January high of $5.37.<\/p>\n

As of this writing, SUI trades at $2.58, a 5.5% increase in the daily timeframe.<\/p>\n

\"SUI,<\/p>","protected":false},"excerpt":{"rendered":"

Sui Network\u2019s native token, SUI, has reclaimed a crucial level after its 10% price breakout. The token has shown bullish momentum over the past few days, climbing to weekly highs on Wednesday. Various market watchers suggested the momentum could send the cryptocurrency to new highs in Q2. \u00a0SUI Reclaims Key Breakout Level Today, SUI, one […]<\/p>\n","protected":false},"author":1,"featured_media":20205,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-20203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nSUI Reclaims Key $2.40 Support Amid Breakout \u2013 Is A New High Coming? - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/de\/sui-reclaims-key-2-40-support-amid-breakout-is-a-new-high-coming\/\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SUI Reclaims Key $2.40 Support Amid Breakout \u2013 Is A New High Coming? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Sui Network\u2019s native token, SUI, has reclaimed a crucial level after its 10% price breakout. 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