{"id":662460,"date":"2024-12-14T09:00:58","date_gmt":"2024-12-14T09:00:58","guid":{"rendered":"https:\/\/wncen.com\/?p=662460"},"modified":"2024-12-13T19:06:45","modified_gmt":"2024-12-13T19:06:45","slug":"sui-hits-new-ath-can-bullish-momentum-lead-price-to-5-this-weekend","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/sui-hits-new-ath-can-bullish-momentum-lead-price-to-5-this-weekend\/","title":{"rendered":"SUI Hits New ATH, Can Bullish Momentum Lead Price To $5 This Weekend?"},"content":{"rendered":"

SUI momentum continues after recording a new all-time high (ATH) on Friday morning. The cryptocurrency surged 4.5% to near the $5 barrier for the second time this week, fueling investors\u2019 optimism about the token\u2019s future price action.<\/p>\n

Related Reading: Ethereum: Analysts Eye $4,100 Target As ETH Reclaims Key Support Level<\/a><\/div>\n

SUI Nears $5 After New ATH<\/h2>\n

SUI has been one of the leading cryptocurrencies this bull run, rising over 521% year-to-date (YTD) and nearly 182% since Q4 started. The token also outperformed<\/a> the market throughout the Q2 and Q3 retraces, registering massive gains while most altcoins struggled.<\/p>\n

As the crypto market started to gain steam in preparations for the US elections, SUI saw a brief consolidation period after surpassing its March ATH. The token hovered between the $1.7-$2.3 price range before continuing the \u201cprice discovery\u201d mode in November.<\/p>\n

The post-US election pump propelled the cryptocurrency\u2019s price past the $3 barrier and near the $4 mark before retracing. Nonetheless, SUI\u2019s momentum resumed on December 5 when it hit the $4.5 mark, fueled<\/a> by Bitcoin\u2019s first-ever surge above $100,000.<\/p>\n

The token\u2019s rally continued this week, with SUI registering a 14% increase in the last seven days, which led to its latest $4.92 milestone on Friday morning. SUI\u2019s remarkable performance<\/a> also drove the token to the top 15 cryptocurrencies by market capitalization after flipping Polkadot (DOT).<\/p>\n

SUI\u2019s Price To Peak In June?<\/h2>\n

Amid SUI\u2019s performance, several analysts noted that the token, often called \u201cSolana\u2019s \u201ckiller,\u201d seems to be repeating SOL\u2019s 2021 path. Market watcher Mags compared<\/a> the two charts, suggesting investors won\u2019t be ready for SUI\u2019s upcoming movements.<\/p>\n

During the 2020-2021 cycle, Solana saw a massive rally that drove its price to its previous ATH. Its price action saw SOL gain steam at the end of 2020 and surge to its first major high of the year in May 2021. Then, Solana consolidated for a few months before resuming its run, peaking at $259 in late November 2021.<\/p>\n

According to Ali Martinez, SUI\u2019s performance<\/a> earlier this year resembled Solana\u2019s initial climb last cycle, jumping to its $2.3 high before consolidating for a few months. Now that it has broken past its March ATH, SUI continues to move similarly to SOL, which could suggest that the token is poised for a massive surge soon.<\/p>\n

If it continues this pattern, the cryptocurrency could hit the $5 mark in the coming days after a brief consolidation in the $4.5-$4.8 price range. Trader Crypto Rand highlighted<\/a> that SUI is in \u201cfull bullish momentum,\u201d also forecasting it will hit the $5 mark soon.<\/p>\n

Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next?<\/a><\/div>\n

Another pseudonym crypto trader predicted<\/a> that the token could be near the $8 barrier by early 2025 and hit the $16 mark by Q2, following SOL\u2019s path. Based on the chart, SUI could see its rally extended until June 2025, when it would hit its peak around the $40 mark.<\/p>\n

As of this writing, SUI is trading at $4.79, a 50% surge in the monthly timeframe.<\/p>\n

\"SUI,
SUI’s performance in the one-week chart. Source: SUIUSDT on TradingView<\/a><\/figcaption><\/figure>\n
Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

SUI momentum continues after recording a new all-time high (ATH) on Friday morning. The cryptocurrency surged 4.5% to near the $5 barrier for the second time this week, fueling investors\u2019 optimism about the token\u2019s future price action. Related Reading: Ethereum: Analysts Eye $4,100 Target As ETH Reclaims Key Support Level SUI Nears $5 After New ATH SUI has been one of the leading cryptocurrencies this bull run, rising over 521% year-to-date (YTD) and nearly 182% since Q4 started. The token also outperformed the market throughout the Q2 and Q3 retraces, registering massive gains while most altcoins struggled. As the crypto market started to gain steam in preparations for the US elections, SUI saw a brief consolidation period after surpassing its March ATH. The token hovered between the $1.7-$2.3 price range before continuing the \u201cprice discovery\u201d mode in November. The post-US election pump propelled the cryptocurrency\u2019s price past the $3 barrier and near the $4 mark before retracing. Nonetheless, SUI\u2019s momentum resumed on December 5 when it hit the $4.5 mark, fueled by Bitcoin\u2019s first-ever surge above $100,000. The token\u2019s rally continued this week, with SUI registering a 14% increase in the last seven days, which led to its latest $4.92 milestone on Friday morning. SUI\u2019s remarkable performance also drove the token to the top 15 cryptocurrencies by market capitalization after flipping Polkadot (DOT). SUI\u2019s Price To Peak In June? Amid SUI\u2019s performance, several analysts noted that the token, often called \u201cSolana\u2019s \u201ckiller,\u201d seems to be repeating SOL\u2019s 2021 path. Market watcher Mags compared the two charts, suggesting investors won\u2019t be ready for SUI\u2019s upcoming movements. During the 2020-2021 cycle, Solana saw a massive rally that drove its price to its previous ATH. Its price action saw SOL gain steam at the end of 2020 and surge to its first major high of the year in May 2021. Then, Solana consolidated for a few months before resuming its run, peaking at $259 in late November 2021. According to Ali Martinez, SUI\u2019s performance earlier this year resembled Solana\u2019s initial climb last cycle, jumping to its $2.3 high before consolidating for a few months. Now that it has broken past its March ATH, SUI continues to move similarly to SOL, which could suggest that the token is poised for a massive surge soon. If it continues this pattern, the cryptocurrency could hit the $5 mark in the coming days after a brief consolidation in the $4.5-$4.8 price range. Trader Crypto Rand highlighted that SUI is in \u201cfull bullish momentum,\u201d also forecasting it will hit the $5 mark soon. Related Reading: Analyst Sounds The Alarm As Solana (SOL) Retests $210, Rebound Or Retrace Next? Another pseudonym crypto trader predicted that the token could be near the $8 barrier by early 2025 and hit the $16 mark by Q2, following SOL\u2019s path. Based on the chart, SUI could see its rally extended until June 2025, when it would hit its peak around the $40 mark. As of this writing, SUI is trading at $4.79, a 50% surge in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":646177,"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":[428,1119,26263,92978,10923,89756,12837,83626,87261,93476,88415,4313],"class_list":["post-662460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-crypto-analyst","tag-crypto-bull-run-2024","tag-crypto-market","tag-crypto-trader","tag-sol","tag-solana","tag-sui","tag-sui-ath","tag-suiusdt","tag-us-elections"],"acf":[],"yoast_head":"\nSUI Hits New ATH, Can Bullish Momentum Lead Price To $5?<\/title>\n<meta name=\"description\" content=\"SUI hit a new all-time high on Friday morning, fueling bullish market watchers\u2019 sentiment about its potential rally to $5 this 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In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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