Bluntz noted that \u201cevery dip on 4h end up abc-looking and keeps trucking higher,\u201d including the latest weekend drop. He suggested that the token is still in the \u201cmacro wave 3 still and hasn\u2019t even had a wave 4 yet.\u201d<\/p>\n
Per his chart, SUI\u2019s wave three will target the $2 resistance level before retracing to the $1.65-$1.70 support zone in wave 4, setting the wave five\u2019s target around $2.6.<\/p>\n
As of this writing, the cryptocurrency is trading at $1.76 and has outperformed the global crypto market in the past week, according to CoinGecko data.<\/p>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
SUI has seen a 15% surge in the past week following its remarkable price action throughout Q3. The cryptocurrency\u2019s performance continues to fuel investors\u2019 sentiment, but some believe the upcoming unlock event could hinder its rally toward a new all-time high (ATH) next quarter. Related Reading: SUI Ready To Test $2 Resistance \u2013 Bullish Pattern Suggests New ATH Soon From \u2018SUIptember\u2019 To \u2018Uptober\u2019 In the past three months, SUI\u2019s price surged 114%, moving from the $0.8 mark to the $1.75 price range. The cryptocurrency was among the best performers throughout Q3, registering green numbers while most tokens bleed during the market retraces. In August, the token saw up to 50% price surges amid the market downturns, registering a 73% recovery from the monthly lows and 14% from its opening price. This month, the token also saw a massive increase from September\u2019s opening, registering a 119% surge in the last 30 days. Market analyst Crypto Bullet noted that SUI\u2019s monthly candle is \u201cabsolutely phenomenal\u201d as it has been retesting levels unseen since April and is sitting 20% below its all-time high (ATH) of $2.17. The analyst previously suggested that the cryptocurrency was poised to test and break its major resistance level of $2 in Q4, which is usually a bullish period for the market, and reach a new ATH around the $5 mark. During its 10% jump over the weekend, SUI tried to reclaim the $1.85 resistance but dropped to the $1.7 support zone as the market saw a 2.5% dip in the past day. Since the drop, the token has been hovering between the $1.70-$1.75 price range, recovering its levels from 24 hours ago. Sui Network Milestones Fuel The Token\u2019s Rally The sentiment surrounding SUI seems fueled by the networks\u2019 recent achievements. According to Artemis Terminal data, Sui Network surpassed all other chains in daily net flows on Monday, reaching $6.8 million in positive net flows in the past day. Comparatively, Ethereum and Solana registered $4.9 million and $3.4 million net flows in the last 24 hours. The network also had the second-largest daily inflows by chain with $10.3 million, only surpassed by Ethereum\u2019s $35.8 million. Moreover, the chain reached the long-awaited $1 billion Total Value Locked (TVL) milestone on Sunday, less than two years after its Mainnet launch. Nonetheless, many investors and crypto analysts consider that the upcoming October unlock event could negatively affect SUI\u2019s performance. The event will unlock 64.19 million tokens worth $112 million, increasing the cryptocurrency\u2019s circulating supply by 2.4%. Despite the unlock, some market watchers consider the cryptocurrency\u2019s performance will continue its bullish rally. Crypto analyst Bluntz recently called the token \u201ca certified beast\u201d due to its recovery from the dips. Related Reading: Solana Price (SOL) Holds Crucial Support Level: Is the Rally Still Alive? Bluntz noted that \u201cevery dip on 4h end up abc-looking and keeps trucking higher,\u201d including the latest weekend drop. He suggested that the token is still in the \u201cmacro wave 3 still and hasn\u2019t even had a wave 4 yet.\u201d Per his chart, SUI\u2019s wave three will target the $2 resistance level before retracing to the $1.65-$1.70 support zone in wave 4, setting the wave five\u2019s target around $2.6. As of this writing, the cryptocurrency is trading at $1.76 and has outperformed the global crypto market in the past week, according to CoinGecko data. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":609187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[26263,10923,93117,1946,92988,83626,87261,88213,93088,93118,88415,81461,87108],"class_list":["post-645523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto-analyst","tag-crypto-market","tag-crypto-market-q3","tag-ethereum","tag-q4","tag-solana","tag-sui","tag-sui-network","tag-sui-tvl","tag-suitember","tag-suiusdt","tag-total-value-locked","tag-uptober"],"acf":[],"yoast_head":"\n
SUI Sees 15% Weekly Surge Ahead Of October Token Unlock<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n