The SUI price’s weekly structure remains bullish despite a rejected breakout, with traders watching key support zones for a potential recovery. A successful trendline reclaim could strengthen the outlook, while KuCoin Web3 Wallet’s Sui mainnet support may further boost accessibility and adoption across the ecosystem.
At the time of writing, SUI is trading at $0.7386 with a 24-hour trading volume of $476.35 million and a market capitalization of $3 billion. Despite the 6.43% loss over the last 24 hours, the SUI price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: SUI Price Prediction: Falling Wedge and Network Growth Fuel Recovery to $0.87
SUI Weekly Chart Signals Potential 257% Rally to $2
According to the crypto analyst Sui Insiders, the SUI price has reacted strongly from a major weekly trendline after its first attempt to break and hold above the resistance failed.
The pullback could create new accumulation opportunities, with traders watching $0.72 as the initial support zone. If selling pressure intensifies, the next areas of interest are $0.64 and the key $0.57 weekly low.
Source: Sui Insiders’ X Post
In spite of the failed breakout, the long-term bullish technical setup of the SUI price is intact, the analyst believes. The liquidity sweep at $0.57 can help flush out weak hands ahead of a fresh move towards recovery by buyers.
If SUI manages to hold its ground in the highlighted levels and reclaim the trendline, the cryptocurrency can aim for $2, which means an upside of 257%.
KuCoin Web3 Wallet Adds Sui Mainnet Support
The data from KuCoin Web3 Wallet further highlighted that the Web3 Wallet ecosystem of KuCoin has grown further through integration with Sui mainnet tokens, whereby users will be able to have the management of their compatible tokens and engagement in applications on the Sui blockchain.
This integration gives users of KuCoin Web3 Wallet access to the Sui ecosystem in a very efficient manner.
Sui is a next-gen Layer-1 blockchain that is built for scalability use cases, decentralized finance (DeFi), and cross-border payments, featuring a suite of tools for quick and seamless transactions.
The recent KuCoin integration will reduce the obstacles for users trying out applications built on the Sui blockchain, thus helping its adoption as blockchain technology continues to evolve towards Web3 financial ecosystems.
Despite the bullish price predictions and strong network growth, the SUI price is moving in a downward direction. This move is impacted by the cautious environment in the crypto market as Bitcoin is moving sideways after the recent surge.
What Comes Next for SUI?
The SUI price’s future direction will be determined by how buyers are able to hold the $0.72 support level and then break above the weekly trendline.
This would allow SUI to move closer to the $2 price level, while failure could see a move below $0.64 and $0.57. In addition, the Sui mainnet support of KuCoin should help to boost adoption.
Also Read: SUI Price Breakout Could Target $1.34 as ETF Inflows Signal Strong Demand
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Be the first to comment