Sui (SUI) Price Gains Another 10% and Aims for a New All-Time High or Even $2.50

Sui (SUI) price climbed further higher above the $2.00 barrier. The current price action suggests a high chance of more upsides toward $2.50.

Key Takeaways:

SUI (SUI) price climbed further higher above the $2.00 barrier.

The current price action suggests a high chance of more upsides toward $2.50.

SUI Price Gains Another 10%

In the last technical analysis, we discussed how SUI could extend its surge by 15% and aim for a new all-time high. The price did remain in a bullish zone and climbed above the $2.00 resistance zone. It rallied over 10% in the past three sessions, whereas Bitcoin saw a bearish reaction.

SUI's network continues to grow. Recently, it achieved a major milestone by surpassing Solana in number of transactions.

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There was a move toward the all-time high and the price is now showing no signs of weakness. It is trading well above the $2.00 pivot level and the 50-day simple moving average (blue).

SUI is also following a key rising channel with support at $1.825 on the daily chart. If the bulls remain in action, there could be more upsides in the near term. Immediate resistance sits near the $2.17 level and the last all-time high.

A close above the $2.20 level could set the pace for more upsides. The first major resistance could be $2.32. A clear move above the $2.32 level could set the pace for another steady increase. In the stated case, the price could rally and test the $2.465 level. Any more gains might call for a test of the $2.550 resistance zone.

Are Dips Attractive?

If not, SUI might start a downside correction from $2.170 or $2.20. Immediate support is near the $2.050 level or the 23.6% Fib retracement level of the upward move from the $1.6125 swing low to the $2.1692 high.

The first support is visible near the $1.90 level or the channel’s lower trend line at $1.825. It coincides with the 61.8% Fib retracement level of the upward move from the $1.6125 swing low to the $2.1692 high.

The next major support is near the $1.750 level. The main support is now forming near the $1.600 level. A daily close below the $1.60 support could trigger a nasty decline. In the stated case, the price could dive toward the $1.250 support zone and the 50-day simple moving average (blue).

Overall, SUI price is gaining pace above the $2.00 level and aiming for a new all-time high or even $2.50. If there is a pullback, the bulls might remain active near the $1.900 and $1.825 levels.

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