SUI Maintains Momentum, Outperforms Major Cryptocurrencies

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SUI Maintains Momentum, Outperforms Major Cryptocurrencies

Dec, 13 2024 12:25

SUI Maintains Momentum, Outperforms Major Cryptocurrencies

Sui has rapidly gained attention as a formidable competitor in the cryptocurrency arena since its debut in mid-2023. With impressive technological advancements, it poses the question: how high can SUI climb?

The weekly SUI/USD chart demonstrates a significant parabolic surge. Following a successful breakout from an earlier cup and handle pattern, the $SUI price seems poised to approach the 2.618 Fibonacci level. Observers anticipate possible price consolidation at this juncture, eyeing the longer-term target of the 3.618 Fibonacci mark at $6.70.

Remarkably, SUI is outperforming Bitcoin (BTC) in the current bull market, a feat achieved by few cryptocurrencies. The monthly SUI/BTC chart showcases strong support at 0.000035 BTC, with the digital currency making notable gains against Bitcoin.

Against Ethereum (ETH), SUI's performance is even more significant. The SUIUSD/ETHUSD pairing exhibits a substantial breakout from a resistance level of 0.0007 ETH, culminating in a 78% gain for SUI.

Lastly, Sui's movement against Solana (SOL) offers further intrigue. On the biweekly chart, SUI is overcoming a downward trend and appears to be on track to reach the resistance level of 0.0245 SOL, with further resistance levels indicated on the chart.

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