- SUI consolidates between $4.30-$5; a breakout above $5 could spark fresh upward momentum.
- SUI price prediction draws parallels to Bitcoin’s 2019 rally, hinting at potential double-digit growth.
- RSI at 47.89 and Parabolic SAR suggest mixed signals; traders await January 21 for key direction.
SUI token is kicking off 2025, riding high on the 542% rally ending 2024, Eric Trump’s portfolio reveal, and the crypto buzz around Donald Trump’s inauguration today. Emerging from the foundation of Facebook’s Libra project, this Layer 1 blockchain continues has become a top performer.
Adding momentum to its rise, Eric Trump revealed SUI as part of his portfolio, which also includes Bitcoin, Ethereum, and Solana. Analysts suggest the token is at a crucial juncture, with its next move hinging on tonight’s high-profile event.
Technical Outlook: SUI’s Key Support and Resistance Levels
Currently, SUI has consolidated between $4.30 and $5.00, with the RSI at 47.89, hinting at bearish sentiment. Traders are closely monitoring how tonight’s event may influence this consolidation.
Related: Ethereum, Solana, and Sui: Layer-1 Contenders to Watch in 2025
The Parabolic SAR indicator, however, remains below the price, indicating a possible uptrend. To maintain a bullish outlook, SUI must stay above $4.30. A breakout past the $5 resistance could trigger fresh momentum. Conversely, failing to hold key levels could result in extended consolidation. Traders are advised to watch volume closely and use tight stop-loss orders to mitigate risks.
Can SUI Replicate Bitcoin’s 2019 Rally?
Analysts have drawn parallels between SUI’s current trend and Bitcoin’s price action from April 2019. Back then, Bitcoin consolidated before an explosive breakout, offering significant gains to early adopters. If SUI follows a similar path, it could potentially reach double-digit levels by Q1 2025.
However, As January 21 approaches, the token’s ability to overcome key resistance levels will shape its growth potential for the rest of the year.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
