SUI up 18% today, analyst predicts a shocking rise to $10

In a significant development, cryptocurrency Sui (SUI) has recorded the biggest gain among the top 100 cryptocurrencies today, surging by over 18% in the last 24 hours. SUI, a layer-1 blockchain, has been gaining attention in the market for its remarkable performance since its launch in May 2023.

SUI’s epic performance has generated growing interest in the cryptocurrency community and has attracted the attention of experts and analysts, who have been making bullish predictions for the project’s future. Amid the recent surge, one cryptocurrency analyst has projected a significant rally for the cryptocurrency that could take it to new heights in the market.

Sharing a chart of SUI, the analyst known as “TradingShot” on TradingView, highlighted the potential disruption cryptocurrency’s shocking rally to an impressive $10. According to the analysis, SUI is still holding the “1D MA50” after four months, suggesting an imminent price rally to $10.

“Sui (SUIUSD) has been trading inside a Bullish Channel since the market bottom on August 05, 2024. The last 10 days of December saw a vicious test of the 1D MA50 (blue trendline), which is so far holding as Support.”

Source: TradingView/ TradingShot

“In fact, the last time we had a 1D candle close below it was 4 months ago (September 05, 2024). With the 1D RSI making a bullish reversal and breaking above its MA (yellow trendline) while the 1D MACD is about to make a Bullish Cross, both indicators similarly to the October and September 2024 bottoms, we treat the current consolidation above the 1D MA50 as the strongest buy signal of the last 2 months,” he noted. “The previous two Upside Legs were up exactly +219,25%, so our Target is currently just below that range at $10.000.”

At the time of publication, SUI was trading at $5,25, up 17.1% in the last 24 hours. In seven days, the token has appreciated by almost 30%.

It is worth remembering that the recent increase in SUI occurred amid the token unlocks at the beginning of the year. Among the projects with the highest unlocking volume, Sui (SUI) stands out, leading the so-called “cliff unlocks” with the release of 64,19 million tokens, valued at US$ 263,20 million. This amount is equivalent to 2,19% of SUI’s circulating supply and marks an important moment for the blockchain platform in 2025.

In a market where innovation is constant, Sui stands out for its architecture and ability to process transactions quickly. Sui’s speed and efficiency have quickly positioned it as a major player in the crypto landscape.