Analysts are divided on SUI’s future price, with some predicting a rally towards $10 while others anticipate a retreat to $2.5. The crypto market experienced volatility recently, which affected SUI prices. 📈
Popular analyst Rekt Capital suggests that SUI’s price may experience a rebound after breaking above the macro triangle pattern, though a retest phase is necessary to confirm the breakout.
Rekt Capital highlights several key factors influencing SUI’s potential: **institutional adoption** of the Sui network (TVL surpassing $2 billion), and the upcoming **Robinhood listing**, which could further catalyze price increases.
However, other analysts, including Ali Martinez and Crypto Tony, anticipate a fall to the $3.17 support level before another attempt at breaking through the resistance.
Here’s a breakdown of factors influencing SUI prices:
* **Breakout and Retest:** After breaking the macro triangle pattern, SUI briefly experienced price decline as profit booking emerged. 📉 This suggests an ongoing retest phase before further confirmation of the breakout.
* **Institutional Adoption:** Sui is experiencing rapid institutional adoption with its TVL reaching $2 billion. This momentum fuels its growth and drives demand. 📈
* **Robinhood Listing:** Robinhood listing opens doors for US investors to participate in the SUI ecosystem, potentially fueling further price increases.
* **Market Sentiment:** SUI’s trading volume saw an increase of 12% in the last 24 hours, indicating increased interest from traders. However, the daily timeframe shows a decline in price with SUI trading below its moving averages.
As the article points out, expert opinions on SUI’s future are divided, and time will reveal which prediction is accurate.