• SUI crypto price has surged by over 100% in the last month, inspiring confidence within the blockchain community
• Recent developments like increased value locked, token unlock event, higher network activity, and mainnet launch have contributed to SUI’s growth
• While SUI may target new all-time highs, investors could also consider investing in Crypto All-Stars (STARS) for potential exponential gains
SUI has seen significant growth over the last two months, surging almost 300%. This sudden increase has led investors and crypto analysts to make bullish predictions about where its price could go next.
SUI’s Impressive Two-Month Run
After bouncing from its low point of $0.48, SUI consolidated within the $0.80-1.10 zone for a month before breaking out in early September. Since then, its price has risen over 150% in the last month alone.
At the time of writing, SUI is trading around $1.60 after pulling back slightly from its recent high of $1.80. The previous consolidation zone of $0.80-1.10 and the recent peak act as key resistance levels in case of any pullback. SUI’s market cap now exceeds $4.5 billion.
Examining SUI’s Market Cycles
CryptoAmsterdam used SUI’s price action to demonstrate the typical market cycle stages and identify good entry points. The chart shows SUI consolidating in Stage 3, before surging upward into Stage 4. However, it first retested lows, dipping below previous levels to clear out weak positions before reclaiming its range.
Catalysts Behind SUI’s Growth
There are several likely reasons behind SUI’s impressive run:
- Increased Total Value Locked in SUI DeFi
SUI’s DeFi ecosystem saw its Total Value Locked (TVL) jump from $6.638 million to $10.5 billion by October 1st. Though it has pulled back slightly, this indicates surging interest in SUI DeFi.
- SUI Token Unlock Event
On October 1st, 6.419 million SUI tokens were unlocked, representing nearly 24% of total supply. This added significant buying pressure.
- More Network Activity
There has been a 140% increase in unique addresses interacting with SUI, signaling growing ecosystem activity.
- Sui Mainnet Launch
SUI got an added boost from the launch of its mainnet and native Sui bridge. This key milestone brought more attention.
SUI Price Prediction
Despite some corrections, the overall sentiment around SUI remains bullish after its recent developments. It seems entirely feasible for SUI to reclaim its all-time high or even set new highs in the coming months.
However, SUI’s large pullback candle is concerning. Multiple green candles are needed to reverse this slide and confirm the bullish outlook. For now, the $1.63 and $2.36 fib levels act as support. Breaking the $1.90 resistance is key for a move toward the all-time high.
An Exciting SUI Alternative: Crypto All-Stars
While SUI offers potential, its gains may be limited. Those seeking exponential returns could consider a pre-sale token like Crypto All-Stars (STARS) instead.
Trading at under $1, STARS offers early entry and a chance to unify meme coins. Its unique MemeVault also allows staking popular meme coins for big yields. Mainstream analysts have discussed its 100x potential.
So alongside SUI, STARS’ presale price and staking features provide both short and long-term profit potential.
