Sui has jumped by 14% in the last 24 hours among the revival of the market. The token tries to regain a key level of support that could prepare the scene for the loss of the latest all time (ATH). After recovering, the expert in Vaneck forecasted a 300% escalate in SUI price this year.

Sui will test the key level of support again

The cryptographic market is heading towards the green end of the week after a bloody Monday. In the Bitcoin correction, it has lost a $ 100,000 zone, and most cryptocurrencies will be significantly repeated from the January peaks.

Among the withdrawal, Sui lost the 4th USD support for the first time since December, falling to the lowest price in over a month. The cryptocurrency was one of the strongest Altcoins in this cycle, running the market throughout Q2 2024 Retraces and the Q3 rally.

This year, Sui also increased as one of the leading cryptocurrencies, increased for the first time above the 5 USD barrier and reaching the latest level of all time (ATH) in the amount of USD 5.36 at the beginning of the month. Since then, the token has floated between the price range from $ 4.05 to 5.20 USD.

After Monday autumn to USD 3.49, the USD 4 sign acted as resistance, and the cryptocurrency has not yet gone to this day. Sui jumped by 9.8% to recover a key support zone, jumping another 5% to USD 4.2 on Thursday morning.

Cryptographic analyst Carl Runefelt excellent that the token again tests its level growing after losing it as support. This growing line has been a key level of support in the last few months, but it acted as resistance after recent correction.

To change this line into support and continue its growing trajectory, Sui must stick to the $ 4.18 mark above. Recovering the growing line can also cause Sui’s price to receive a 5 USD barrier again.

The price of Eyes Sui this year

Patrick Bush, a senior investment analyst at Asset Manager Vaneck, shared the perspectives of SUI long -term results in the last competitive analysis against APT (APT), which are often compared.

According to the analyst, Sui is set better results This year, APT is due to the advantages of the network, the performance and potential of scaling, which translated into a higher Defi ecosystem for market creators:

We believe that the evidence confirms SUI to Aptos due to its benefits of performance and the potential of scaling. We find that it currently offers opportunities that are not replicated in Aptos. Among them are local fee markets, pilot fish and quick path. In addition, SUI can offer a set of technical possibilities and economics that turn out to be more attractive to market markers, which results in a better DEFI ecosystem.

The analysis emphasizes that the attractiveness of Sui attracted token of investors and application builders, which caused better token performance and a more lively ecosystem.

Bush also pointed out that the cryptocurrency conducts retail investments: “In fact, in the last 90 days, the interests of Global Search Sui were higher than in the case of salted in 17 days and higher than Ethereum in 16 days,” he noted.

The analyst predicted that the token would reach market capitalization of $ 61 billion by the end of 2025, which will escalate to around $ 16, which is an escalate of 300% in relation to the current range.

Since then, Sui has been trading at USD 4.13, which is a 14% escalate in daily time frames.

A distinguished painting with unmplash.com, chart from tradingview.com