• With bullish momentum and the potential to reach $10 in the long run, SUI has recovered from $1.80.
• The $2.30-$2.40 zone is critical resistance; a breakthrough could spark further price growth for $SUI.
• With token unlocks approaching, analysts are increasingly bullish on SUI’s long-term growth prospects.

The price of $SUI has shown a rebound after hitting a key support level in October as shown by crypto analyst CryptoDoc. As of November, the price has surged to around $2.30, bouncing off the “Buy Zone 1” between $1.60 and $1.80. This level, seen as a solid entry point, has supported SUI in the past, and recent price action indicates bullish momentum. While the price encounters resistance near the $2.40 mark, analysts believe breaking through this level could lead to further gains.

Key Price Zones and Resistance Levels

The chart for $SUI shows that the token has been trending upwards since mid-September, hitting a peak near $2.40 in October. However, this resistance level has been a tough barrier, creating a consolidation phase. 

Price changes throughout this phase took place within a range, with the upper boundary being the $2.30 to $2.40 zone. For more upward momentum, any price movement above $2.40 would therefore need to be maintained.

The support zone, referred to as “Buy Zone 1,” remains a crucial area for buyers. When the price revisited this zone in October, it displayed stability, which then led to an upward move. Moreover, this level continues to offer a strong foundation for price recovery, should there be any further downward movements in the near future. Therefore, it’s safe to say that $SUI remains well-positioned for long-term growth.

Breakout and Potential Long-Term Target

Recently, $SUI broke above the descending trend line, suggesting increased buying pressure. This breakout pushed the price back to the previous resistance zone, showing strength in market sentiment. 

However, the price faces another hurdle at the $2.30-$2.40 range, where selling pressure may increase. Despite this, the breakout above the trend line indicates a potential shift in momentum.

Analysts are optimistic about $SUI’s long-term prospects. The hype around the project, combined with upcoming token unlocks, has created positive sentiment. With this in mind, many predict that $SUI could reach as high as $10 in the long term, making it an attractive opportunity for investors.

The post SUI’s Bullish Momentum, Will $2.40 Hold or Lead to Bigger Gains? appeared first on Crypto News Land.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed