{"id":646989,"date":"2024-10-09T12:00:34","date_gmt":"2024-10-09T12:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=646989"},"modified":"2024-10-08T17:45:41","modified_gmt":"2024-10-08T17:45:41","slug":"sui-dips-4-3-after-nearly-reclaiming-ath-is-now-the-time-to-sell","status":"publish","type":"post","link":"https:\/\/wncen.com\/all\/sui-dips-4-3-after-nearly-reclaiming-ath-is-now-the-time-to-sell\/","title":{"rendered":"SUI Dips 4.3% After Nearly Reclaiming ATH, Is Now The Time To Sell?"},"content":{"rendered":"

SUI has been one of the few assets that appears to be having a lone bull run despite the struggle of certain cryptocurrencies in the market to reclaim their major highs.<\/p>\n

Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17<\/a> yesterday with a 24-hour high of $2.13.<\/p>\n

Although the asset is currently facing a price decline down by 4.3% in the past 24 hours with a current trading price of $1.99, a prominent crypto analyst known as CryptoBullet has taken to his X account to address<\/a> investors on whether now is the best time to sell SUI.<\/p>\n

Related Reading: Can SUI Break Past $2 Resistance? On-Chain Metrics Reveal Growing Demand<\/a><\/div>\n

Should You Sell Your SUI Now?<\/h2>\n

While it may seem tempting for some to sell during this price dip, CryptoBullet suggests otherwise. The analyst noted, “I know it might be tempting to sell SUI here, but it\u2019s the wrong timing imo [in my opinion].”<\/p>\n

The analyst explained that the crypto is experiencing its fourth test of the $2 level, a key technical point, adding that “the more times a level is tested, the more likely it is to break.” CryptoBullet believes this could indicate a bullish breakout<\/a>, pointing to the formation of a Cup and Handle pattern.<\/p>\n

\"Cup
Cup and Handle pattern formation on SUI chart. | Source: CryptoBullet<\/figcaption><\/figure>\n

Additionally, CryptoBullet highlighted some of SUI\u2019s achievements that could further propel its bullish case. These include a market cap that nearly reached $6 billion, a transaction per second (TPS) rate exceeding 1,000 for the past three days, and SUI ranking as the second-largest non-EVM chain by total value locked (TVL) at $1.08 billion.<\/p>\n

Strong Growth Ahead For Ecosystem?<\/h2>\n

Another crypto analyst known as ‘Easy’ on X echoed<\/a> CryptoBullet\u2019s optimism, comparing SUI\u2019s potential to Solana\u2019s meteoric rise in 2021. According to the analyst, “Sleeping on SUI is like sleeping on SOL in 2021.”<\/p>\n

He emphasized that SUI\u2019s metrics, including TVL and trading volume, are showing strong growth, which could indicate that the crypto is poised for a significant bull run<\/a>.<\/p>\n

Related Reading: Can SUI Fall To $1.40? On-Chain Data Exposes Declining Demand<\/a><\/div>\n

The analyst also noted the rise of memecoins<\/a> on the network, with some tokens seeing a minimum 250% increase in value over the last 24 hours.<\/p>\n

\n

Sleeping on SUI, is like sleeping on SOL in 2021.
\nSUI is going to dominate the entire bull run.
\nAll metrics are pointing to massive growth on the SUI ecosystem<\/p>\n

From TVL to Volume, it is gaining a level of traction that is unprecedented when compared to other blockchains.<\/p>\n

The\u2026 pic.twitter.com\/VfZ7DVZ1dz<\/a><\/p>\n

\u2014 Easy (@EasyEatsBodega) October 7, 2024<\/a><\/p><\/blockquote>\n

It is easily concluded by expressing confidence in SUI\u2019s future growth, suggesting that the current price could be a “steal” for long-term investors. He revealed plans to accumulate more SUI on market dips, setting an ambitious price target<\/a> of $10 for the asset.<\/p>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

SUI has been one of the few assets that appears to be having a lone bull run despite the struggle of certain cryptocurrencies in the market to reclaim their major highs. Over the past month alone, SUI has increased by more than 100%, with its 7-day performance still seeing green up by 11.8% after nearly touching its all-time high of $2.17 yesterday with a 24-hour high of $2.13. Although the asset is currently facing a price decline down by 4.3% in the past 24 hours with a current trading price of $1.99, a prominent crypto analyst known as CryptoBullet has taken to his X account to address investors on whether now is the best time to sell SUI. Related Reading: Can SUI Break Past $2 Resistance? On-Chain Metrics Reveal Growing Demand Should You Sell Your SUI Now? While it may seem tempting for some to sell during this price dip, CryptoBullet suggests otherwise. The analyst noted, “I know it might be tempting to sell SUI here, but it\u2019s the wrong timing imo [in my opinion].” The analyst explained that the crypto is experiencing its fourth test of the $2 level, a key technical point, adding that “the more times a level is tested, the more likely it is to break.” CryptoBullet believes this could indicate a bullish breakout, pointing to the formation of a Cup and Handle pattern. Additionally, CryptoBullet highlighted some of SUI\u2019s achievements that could further propel its bullish case. These include a market cap that nearly reached $6 billion, a transaction per second (TPS) rate exceeding 1,000 for the past three days, and SUI ranking as the second-largest non-EVM chain by total value locked (TVL) at $1.08 billion. Strong Growth Ahead For Ecosystem? Another crypto analyst known as ‘Easy’ on X echoed CryptoBullet\u2019s optimism, comparing SUI\u2019s potential to Solana\u2019s meteoric rise in 2021. According to the analyst, “Sleeping on SUI is like sleeping on SOL in 2021.” He emphasized that SUI\u2019s metrics, including TVL and trading volume, are showing strong growth, which could indicate that the crypto is poised for a significant bull run. Related Reading: Can SUI Fall To $1.40? On-Chain Data Exposes Declining Demand The analyst also noted the rise of memecoins on the network, with some tokens seeing a minimum 250% increase in value over the last 24 hours. Sleeping on SUI, is like sleeping on SOL in 2021. SUI is going to dominate the entire bull run. All metrics are pointing to massive growth on the SUI ecosystem From TVL to Volume, it is gaining a level of traction that is unprecedented when compared to other blockchains. The\u2026 pic.twitter.com\/VfZ7DVZ1dz \u2014 Easy (@EasyEatsBodega) October 7, 2024 It is easily concluded by expressing confidence in SUI\u2019s future growth, suggesting that the current price could be a “steal” for long-term investors. He revealed plans to accumulate more SUI on market dips, setting an ambitious price target of $10 for the asset. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":646998,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[134,136,6664,10923,87261,93180,93179,88415],"class_list":["post-646989","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all","tag-altcoin","tag-altcoin-market","tag-crypto","tag-crypto-market","tag-sui","tag-sui-analysis","tag-sui-price-prediction","tag-suiusdt"],"acf":[],"yoast_head":"\nSUI Dips 4.3% After Nearly Reclaiming ATH, Is Now The Time To Sell?<\/title>\n<meta name=\"description\" content=\"SUI has been on of the few assets that appears to be having a lone bull run despite the struggling of certain cryptocurrencies in the...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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