SUI Maintains Momentum, Outperforms Major Cryptocurrencies

Alexey BondarevDec, 13 2024 12:25

SUI Maintains Momentum, Outperforms Major Cryptocurrencies

Sui has rapidly gained attention as a formidable competitor in the cryptocurrency arena since its debut in mid-2023. With impressive technological advancements, it poses the question: how high can SUI climb?

The weekly SUI/USD chart demonstrates a significant parabolic surge. Following a successful breakout from an earlier cup and handle pattern, the $SUI price seems poised to approach the 2.618 Fibonacci level. Observers anticipate possible price consolidation at this juncture, eyeing the longer-term target of the 3.618 Fibonacci mark at $6.70.

Remarkably, SUI is outperforming Bitcoin (BTC) in the current bull market, a feat achieved by few cryptocurrencies. The monthly SUI/BTC chart showcases strong support at 0.000035 BTC, with the digital currency making notable gains against Bitcoin.

Against Ethereum (ETH), SUI's performance is even more significant. The SUIUSD/ETHUSD pairing exhibits a substantial breakout from a resistance level of 0.0007 ETH, culminating in a 78% gain for SUI.

Lastly, Sui's movement against Solana (SOL) offers further intrigue. On the biweekly chart, SUI is overcoming a downward trend and appears to be on track to reach the resistance level of 0.0245 SOL, with further resistance levels indicated on the chart.

Disclaimer and Risk Warning: The information provided in this article is for educational and informational purposes only and is based on the author's opinion. It does not constitute financial, investment, legal, or tax advice. Cryptocurrency assets are highly volatile and subject to high risk, including the risk of losing all or a substantial amount of your investment. Trading or holding crypto assets may not be suitable for all investors. The views expressed in this article are solely those of the author(s) and do not represent the official policy or position of Yellow, its founders, or its executives. Always conduct your own thorough research (D.Y.O.R.) and consult a licensed financial professional before making any investment decision.

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