Why $SUI Is Pumping? Will SUI Coin Price Hit $10 or Collapse Soon

Why Is Sui Coin Surging? Key Factors Behind the Recent Price Jump and What’s Next for SUI

Cryptocurrency enthusiasts have witnessed a remarkable surge in the price of Sui Coin (SUI) today, with the token showing an impressive 26.04% increase in just 24 hours, currently trading at around $2.81. As the price continues to climb, Sui Coin has become a focal point for traders and investors alike, prompting many to ask, "Why is SUI pumping so hard?"

Adding to the excitement, Sui’s 24-hour trading volume has seen a staggering 133% increase, reaching a massive $1.96 billion, suggesting heightened investor interest. As the momentum builds, it’s important to understand the driving factors behind this price spike and what could be expected for SUI Coin’s future performance.

Why Is Sui Coin Pumping? Key Catalysts Behind the Surge

Several factors have contributed to the rapid increase in Sui Coin's price, with both macroeconomic events and technical indicators playing crucial roles. Let’s break down the main reasons behind this price surge:

Source: Cryptosahintas X Account

1. Trump vs. The Fed: Investor Sentiment Shift

One of the primary catalysts for Sui Coin’s recent price rise is the ongoing tension in traditional financial markets. Former U.S. President Donald Trump made headlines recently with harsh criticisms of Federal Reserve Chairman Jerome Powell, causing uncertainty in the stock market. This has led many traditional investors to seek safer or more volatile assets like cryptocurrency. As a result, there has been a noticeable capital shift from traditional markets to crypto, with Sui Coin benefiting from this trend.

2. Bitcoin Rally: Sui Coin’s Correlation with Bitcoin

Another significant factor driving Sui’s price surge is the performance of Bitcoin. Historically, many altcoins, including Sui, tend to follow the movements of Bitcoin, the leading cryptocurrency. As Bitcoin sees upward momentum, altcoins often follow suit. At the time of writing, Bitcoin has been showing strong bullish movement, propelling other tokens like Sui Coin in the process.

3. Massive Volume Spike: Increased Market Activity

Perhaps the most telling sign of a potential sustained price increase is the spike in trading volume. Sui Coin’s 24-hour volume surged by over 133%, hitting $1.96 billion. High trading volume often signals that many buyers are entering the market, which is generally a positive indicator of strong demand. This uptick in volume shows that traders and investors are actively buying the token, further fueling its rise.

4. Technical Breakout: Indicators Pointing to Growth

From a technical perspective, Sui Coin has recently broken out of its previous price range, triggering bullish signals across a variety of technical indicators. The Relative Strength Index (RSI), which currently stands at 66.04, indicates that the token is in an upward trend but has not yet entered overbought territory. There is still room for growth before the coin reaches unsustainable price levels.

Moreover, the Moving Average Convergence Divergence (MACD) has given a bullish crossover—where the blue line crosses above the orange line—which is another positive indicator that suggests Sui Coin's price could continue to rise.

5. Cryptocurrency Analyst Sentiment: Bullish Predictions

Leading crypto analyst Cryptosahintas recently posted a bullish outlook on X (formerly Twitter), stating that Sui Coin has solid support at $2.31 and that the chart patterns are showing signs of a continuation upwards. According to him, Sui Coin is currently in a strong buying zone, with indicators supporting the potential for more upside. Given his influence and following within the crypto community, such predictions tend to stir more confidence among traders, contributing to the ongoing price rise.

Sui Coin’s Price Analysis: What the Charts Reveal

According to TradingView, the technical outlook for Sui Coin remains strong. Here’s a closer look at the key levels and indicators:

• RSI: At 66.04, the RSI suggests there is still some room for upward movement before the token becomes overbought.

• MACD: A recent bullish crossover between the blue and orange lines indicates positive momentum and points to the possibility of further price appreciation.

• Support Level: The $2.30 level has previously acted as a support zone where buying activity has been significant.

• Resistance Level: The next major resistance for Sui Coin is around $3.50, and this is seen as the key level that could trigger further bullish price action if broken.

Sui Coin Price Predictions: Is $10 Within Reach?

As the price of Sui Coin continues to rise, traders are looking to the future to determine how far it can go. While predicting crypto prices is always speculative, analysts have provided several price targets for the short, medium, and long term.

Short-Term Price Prediction (Next 1–2 Weeks): $3.20 to $3.50

In the short term, if buying momentum continues and Sui Coin successfully breaks through the $3.50 resistance level, it could see further gains in the range of $3.20 to $3.50. However, if the token faces resistance at this level, there may be a pullback to the $2.60 to $2.30 range.

Source: TradingView

Mid-Term Price Target (Next 1–2 Months): $4.80 to $5.20

Assuming Bitcoin continues its rally and Sui Coin maintains its current momentum, the next target could be in the range of $4.80 to $5.20. The token has a significant upside potential if it surpasses the $3.50 resistance and gains broader market adoption.

Long-Term Price Prediction (3–6 Months): $7.00 to $8.00

Looking ahead, if the broader cryptocurrency market enters a bullish altseason, Sui Coin could potentially reach $7.00 to $8.00. In a highly optimistic scenario, if Sui Coin becomes widely adopted, it may even approach the $10 mark, though this depends on overall market conditions.

Conclusion: Is Sui Coin the Next Solana?

While it’s still in its early stages, Sui Coin is showing strong momentum, similar to the early days of Solana ($SOL). Despite its relatively low price of around $2.79, Sui Coin has demonstrated impressive growth potential. If Sui breaks the $3.50 resistance level with continued strong buying, the token could experience rapid growth similar to that of Solana in the past.

However, as always in the volatile world of cryptocurrency, it’s important for investors to be cautious and keep an eye on market trends. Sui Coin is undoubtedly one to watch in the coming weeks and months, as its performance could very well define its place in the cryptocurrency ecosystem.

Writer @Erlin

Erlin is an experienced crypto writer who loves to explore the intersection of blockchain technology and financial markets. She regularly provides insights into the latest trends and innovations in the digital currency space.

 

 Check out other news and articles on Google News

Disclaimer:

The articles published on hokanews are intended to provide up-to-date information on various topics, including cryptocurrency and technology news. The content on our site is not intended as an invitation to buy, sell, or invest in any assets. We encourage readers to conduct their own research and evaluation before making any investment or financial decisions.

hokanews is not responsible for any losses or damages that may arise from the use of information provided on this site. Investment decisions should be based on thorough research and advice from qualified financial advisors. Information on HokaNews may change without notice, and we do not guarantee the accuracy or completeness of the content published.