Layer-1 cryptocurrency platform SUI has recently attracted attention due to both technical analysis indicators and expert commentary. Raoul Pal, a former Goldman Sachs executive and founder of Real Vision, noted that SUI’s technical data shows promising signs of upward potential. The increasing expectations that the platform may emerge from its prolonged downtrend have reignited investor interest. Currently, SUI trades at around $2.18, marking a 4% gain in the last 24 hours.
Technical Indicators Signal Positivity for Altcoin
Future price movements for SUI are supported by numerous technical indicators, particularly the TD Sequential indicator. This tool attempts to predict trend reversals based on candlestick closures and has produced bullish signals for SUI according to recent data. Experts emphasize that such technical signals can be crucial at market turning points.
A pseudonymous cryptocurrency trader, Cheds, echoed this technical outlook by emphasizing the importance of breaking the $2.50 resistance level. He expressed that this breakthrough could represent a strong bullish signal in the long term. Moreover, market data indicates that increased trading volume supports these optimistic expectations.
Experts Express Confidence in SUI
Many prominent figures in the cryptocurrency market share optimistic expectations regarding SUI’s short-term performance. Michaël van de Poppe highlighted SUI’s potential recovery signals, particularly noting its bounce from strong support levels and heightened usage in decentralized finance applications. According to Van de Poppe, if a general upward movement occurs in the market, SUI could emerge as one of the standout projects during this phase.
On the institutional side, noteworthy developments are also present. Global asset management firm VanEck reported in its analysis that SUI could surpass levels above $10. The same analysis includes price predictions of $180,000 for Bitcoin $93,030 and $6,000 for Ethereum $1,753 . These projections indicate a revitalization in overall cryptocurrency market sentiment, encouraging investors to continue taking positions based on such analyses and technical data.
