SUI Hits New ATH, Can Bullish Momentum Lead Price To $5 This Weekend?
SUI momentum continues after hitting a new all-time high (ATH) on Friday morning. The cryptocurrency surged 4.5% for the second time this week, approaching the $5 mark, fueling investor optimism about the token’s future price action.
New ATH post-SUI close to $5
SUI has been one of the leading cryptocurrencies in this bull market, up more than 521% year to date (YTD) and nearly 182% since the start of Q4. The token is also perform better than The market saw a correction in Q2 and Q3, recording huge gains while most altcoins struggled.
As the cryptocurrency market began to prepare for the U.S. election, SUI experienced a brief period of consolidation after surpassing March’s ATH. The coin’s price range hovered between $1.7 and $2.3 before continuing in “price discovery” mode in November.
The post-U.S. election rally pushed the cryptocurrency’s price above the $3 mark and near the $4 mark before falling back. Nonetheless, SUI’s momentum recovered to the $4.5 mark on December 5, Come on Bitcoin surpasses $100,000 for the first time.
The coin’s gains have continued this week, with SUI up 14% over the past seven days, reaching its latest milestone of $4.92 on Friday morning. SUI is amazing Performance After flipping Polkadot (DOT), the coin also ranks among the top 15 cryptocurrencies by market capitalization.
SUI prices peak in June?
Amid SUI’s performance, several analysts noted that the token, often referred to as “Solana’s ‘killer’,” appears to be repeating SOL’s 2021 path. market observer magazine comparative These two charts suggest that investors are not ready for SUI’s upcoming moves.
During the 2020-2021 cycle, Solana saw a significant increase, pushing its price to its previous highs. Its price action allowed SOL to gain momentum in late 2020 and surge to its first major high of the year in May 2021. Solana then consolidated for a few months before resuming its run, peaking at $259 in late November 2021.
According to Ali Martinez, SUI Performance Earlier this year, Solana’s initial climb was similar to the previous cycle, jumping to highs of $2.3 before consolidating for several months. Now that SUI has broken above March’s ATH, it continues to trend similarly to SOL, which could indicate that the coin is about to rise significantly.
If this pattern continues, the cryptocurrency may touch the $5 mark in the coming days after briefly consolidating in the $4.5 to $4.8 price range. Crypto rand for traders Highlight SUI is in “full bullish momentum” and predicts it will hit the $5 mark soon.
Another pseudonymous cryptocurrency trader Predictive The coin is likely to follow the path of SOL, approaching the $8 mark by early 2025 and reaching the $16 mark in the second quarter. According to the chart, SUI’s rally may continue until June 2025, when it will peak near the $40 mark.
As of this writing, SUI is trading at $4.79, up 50% from the monthly time period.
