Sui Price Prediction: Could A Trump Win Spark an $8 SUI Price Rally?-web3.0-php.cn

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Sui Price Prediction: Could A Trump Win Spark an $8 SUI Price Rally?

Mary-Kate Olsen

Nov 05, 2024 pm 06:26 PM

$8 SUI priceU.S Elections Day

Sui price is on the verge of a breakout just a few hours to the U.S election day. The asset has been ripping the charts over the past few weeks

Sui Price Prediction: Could A Trump Win Spark an SUI Price Rally?

Sui price is up over 2% on the day as the asset continues to trade within a symmetrical triangle on the daily time frame. With just a few hours to the U.S election day, investors are left wondering whether the election results could spark a price breakout for SUI, driving its value up to the $8 mark.

SUI is one of the best performers today in the crypto markets, lagging behind only Dogecoin (DOGE) and Shiba Inu (SHIB). The price of SUI increased by 2.4% on November 5 to trade at $1.92.

As the clock ticks down to the start of the most anticipated American event in the last 4 years, will SUI continue to outperform the markets?

Could A Trump Win Spark an $8 SUI Price Rally?

The short answer to this is Yes. Throughout the election campaigns, Donald Trump has cemented himself as a crypto-friendly presidential hopeful. His growing partnership with Elon Musk has helped him win the hearts of crypto investors residing in the United States.

A Kraken's survey suggests that crypto voters could sway the 2024 election, with up to 26 million potential voters as nearly half of Americans consider crypto policies crucial for the next president, beyond personal profit. Also, the crypto industry leads the 2024 election spending, investing over $238 million, targeting key races.

Trump is currently leading Harris on the decentralized predictions market platform Polymarket. If pro-crypto Trump wins, the impact on the crypto market and Sui price will be profound. Crypto analyst CryptoJack has predicted that SUI price could soar to $8 if it breaks out of its current symmetrical triangle.

“If this breaks, bullish Sui will make new ATHs!”, he said.

His analysis comes as the asset bounced from a pullback, rallying back to its all-time high before encountering resistance at that level.

SUI Price Analysis: Can Sui Rally to $8?

SUI has been on a steady uptrend, showing consistent higher lows and higher highs, supported by a rounded trendline. This rounded bottom pattern usually signals a shift from bearish to bullish momentum.

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