Sui is quickly gaining attention in the blockchain world because of its strong technology and growing community. Created by Mysten Labs, Sui is designed to handle lots of activity at once, making it fast and efficient for apps like games, NFTs, and finance tools.
More developers are building on Sui, and there’s been a rise in users, wallet sign-ups, and transactions. This growth shows that people are excited about what Sui offers and believe in its potential to support the future of web3.
SUI is currently trading at $2.77 which shows a 3.67% decrease in value. However, trading volume just went down clocking $1.03 billion in the last day or so almost 18%. In the past week, the token has taken off around close to 19%, giving bearish signals quite clearly already then. Traders are very vigilant because it is at a key technical level that the price can hang around closely.
According to the Analyst, the decline was simply due to risk averse trading. SUI current decline is contrary to what is expected after a rebound , pointing short term ambiguity about momentum. The Market players are in pursuit of less volume which often indicates traders’ lower confidence and interest or even potential reversal of traders intentions.
Technical analysis points to possible coin price rise to 3.80
Crypto analyst BOBOObtc points out an important pattern in SUI’s price chart called a W-bottom, also known as an inverse head and shoulders. This pattern looks like the letter “W” and happens when the price dips three times, with the middle dip being the lowest.
Right now, SUI is testing a key level called the neckline, which is a line that connects the high points between the dips. If SUI stays above this line, it could mean the price is ready to go up. Some experts think the price might rise to around $3.80. More people are trading SUI at this level, which could mean strong buying interest. Traders are keeping a close eye on this to see if the price starts moving higher.
SUI price forecast for 2025 shows bullish potential
Looking ahead to 2025, predictions for SUI’s price are different. DigitalCoinPrice believes SUI could go up to $6.09 by the end of the year. They think the token might pass its previous highest price of about $5.35 and keep rising. Many investors feel positive about this growth.
On the other hand, Changelly has a more cautious view. They expect SUI’s price to be between $2.04 and $2.38 in 2025, with an average price around $2.71. They see steady growth and a possible return on investment of over 100%. Both forecasts show that the price may change a lot but have different ideas about how much SUI will grow in the next few years.
