SUI Price Signals $1 Comeback Amid Major Developments

SUI price fell from $1.01 to $0.81 in the past four days, registering a 20% loss. The current market following Bitcoin wavering around $60000 could continue to hurt SUI holders with a high momentum downfall.

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SUI price encountered a 20% loss over the past four days, falling from $1.01 to $0.81. This market consolidation comes as Bitcoin wavers around the $60000 mark, potentially impacting SUI holders with a high momentum decrease. Will the correction continue, or can buyers counterattack?

SUI Price Hints at $1 Comeback Amid Major DevelopmentsIn the first half of August, SUI prices were bullish following the announcement of Gray шкала's new SUI trust fund.

Mechanism Capital founder Andrew Kang recently hinted at a potential development for SUI that could build on its recent success. Although the tweet emphasizes that it has no direct knowledge of specific events, several factors, including Raoul Paul's involvement and large over-the-counter (OTC) buy orders, indicate that the token is There seems to be some important development.

These include Raoul Paul's role as an advisor, large over-the-counter (OTC) buy orders, and strong holdings despite large amounts of token unlocking. In addition, Kang highlights the aggressive price movement without significant declines and recent performance improvements made by Mystikety, which could open the door to new and innovative applications.

I don't know anything that's actually going on, but based on the following combinations, I think there may be some interesting developments ahead for $SUI.

1. Raoul Paul's price manipulation thread (while he is a member of the advisor board) 2. Large OTC buy orders 3. Holding status is relatively good despite large-scale unlocking... https //t.co/bTtIhHVRHw

— Andrew Kang (@Rewkang) August 11, 2024

Putting all these factors together, SUI looks like it has an interesting future ahead, and the momentum could continue.

SUI Price Suggests Rise After Breakout On the 8th, SUI price showed a decisive breakout from the resistance line of the channel pattern. Two parallel trend lines, dynamic resistance, and support have led to a steady correction on the daily chart over the past four months.

#🎜🎜 # The post-breakout rally pushed the coin price to his $1.117 high, but it has since fallen to $0.83, with the market cap stabilizing at around $2.16 billion. This decline is testing support at the 20-day and 50-day exponential moving averages (EMAs). Holding this support signals a shift in market sentiment from buying and selling to buying on the dip.

Sustained buying support has pushed SUI price up 40% and could continue its rally to $1.114 after challenging the $1.17 resistance.

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