{"id":19527,"date":"2025-03-19T09:00:39","date_gmt":"2025-03-19T09:00:39","guid":{"rendered":"https:\/\/cryptd.in\/sui-ready-for-15-move-amid-key-level-retest-breakout-or-breakdown-ahead\/"},"modified":"2025-03-19T09:00:39","modified_gmt":"2025-03-19T09:00:39","slug":"sui-ready-for-15-move-amid-key-level-retest-breakout-or-breakdown-ahead","status":"publish","type":"post","link":"https:\/\/cryptd.in\/nb\/sui-ready-for-15-move-amid-key-level-retest-breakout-or-breakdown-ahead\/","title":{"rendered":"SUI Ready For 15% Move Amid Key Level Retest \u2013 Breakout Or Breakdown Ahead?"},"content":{"rendered":"

SUI, the Sui Network\u2019s native token, is retesting a key support level after surging near the $2.40 mark. As the cryptocurrency attempts to hold its current range, some analysts suggest that a breakout is imminent for the token\u2019s price.<\/p>\n

SUI Eyes Key Resistance<\/h2>\n

On Monday, SUI saw its price surge 7% near a key resistance level, fueling bullish sentiment among investors. The cryptocurrency has been one of the leading tokens of the cycle, outperforming most of the market during the 2024 pullbacks.<\/p>\n

Nonetheless, the cryptocurrency has shredded<\/a> over 57% of its gains in the past few months, falling from its $5.31 January all-time high (ATH) to the $2.20 range. After losing the $4 support zone, SUI has hovered between the $2.1-$3.5 zone, briefly falling below $2 last Tuesday.<\/p>\n

Since reaching its 4-month low, SUI has recovered 7.8% in the weekly timeframe, climbing to $2.37 today. According to analyst Ted Pillows, its recent price action has completed<\/a> an inverse head and shoulder pattern, with the price potentially moving toward the $2.45 breakout level.<\/p>\n

A sustained surge above this level could send the token to retest the recently lost $2.6 support. To the analyst, \u201ca big breakout is just a matter of time,\u201d as institutions are taking interest in the token.<\/p>\n

Notably, Canary Capital filed<\/a> a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC) on March 17, fueling yesterday\u2019s 7% rally.<\/p>\n

This move follows Canary\u2019s March 6 filing to register a trust for an SUI-based fund in Delaware. On the same day, Sui kunngjort<\/a> it had partnered with World Liberty Financial (WLFI), the US President Donald Trump\u2019s crypto venture, to include the token in its \u201cMacro Strategy\u201d token reserve.<\/p>\n

$2.26 Retest: Breakout Or Breakdown?<\/h2>\n

Crypto analyst Ali Martinez suggested<\/a> that the token is ready for a 15% move. In an X post, he highlighted a one-week ascending triangle pattern forming in SUI\u2019s chart, with the ascending support line currently at the $2.26 mark and $2.40 set as a crucial resistance level.<\/p>\n

According to the analyst, the 15% move\u2019s direction will be determined by a close above the resistance line, which would send the price to the $2.80 price range, or a close below the support level, which could see the cryptocurrency plunge to $1.90.<\/p>\n

Since hitting its daily high of $2.37, SUI has retraced<\/a> to the pattern\u2019s support level, briefly falling to $2.22 before bouncing back above the ascending line. Despite the small recovery, the token has struggled to hold above the crucial level, hovering between $2.23-$2.26 throughout Tuesday morning.<\/p>\n

Meanwhile, market watcher Pushpendra Singh highlighted<\/a> SUI\u2019s current level as a \u201cstrong buying zone.\u201d The $2-$2.3 price range served as a key breakout level during the November post-US election pump.<\/p>\n

Moreover, its recent retest and bounce from this level suggests a \u201cbreakout to the upside could be imminent.\u201d According to the post, the cryptocurrency eyes the $7 target in the mid-term.<\/p>\n

As of this writing, SUI trades at $2.25, a 5% decline in the daily timeframe.<\/p>\n

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

SUI, the Sui Network\u2019s native token, is retesting a key support level after surging near the $2.40 mark. As the cryptocurrency attempts to hold its current range, some analysts suggest that a breakout is imminent for the token\u2019s price. SUI Eyes Key Resistance On Monday, SUI saw its price surge 7% near a key resistance […]<\/p>\n","protected":false},"author":1,"featured_media":19529,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-19527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nSUI Ready For 15% Move Amid Key Level Retest \u2013 Breakout Or Breakdown Ahead? - 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\/nb\/sui-ready-for-15-move-amid-key-level-retest-breakout-or-breakdown-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"nb_NO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SUI Ready For 15% Move Amid Key Level Retest \u2013 Breakout Or Breakdown Ahead? - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"SUI, the Sui Network\u2019s native token, is retesting a key support level after surging near the $2.40 mark. 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