Sui Crypto has had quite a week. A two-hour crash marked his first real stumble, but as quickly as he faltered, he got back on his feet, contemplating the next big move with a renewed swagger.
In this article, we’ll explain why Sui’s recent bullish crossover confirmation means it could hit $4 before December.
Sui Crypto Technical Analysis
- Support: $3.20 – a strong bottom established after the recent rally, coinciding with the 20-day SMA.
- Resistance: $3.50 – the upper Bollinger band and a psychological barrier that could cap short-term gains.
SUI, a new layer 1 “Solana Killer,” is about to go ballistic after confirming a bullish breakout with a golden cross and a validated cup and handle pattern.
Meanwhile, Bollinger bands, which measure volatility, have widened, confirming increased volatility on the upside. The price is approaching the upper band, signaling sustained bullish momentum.
$3.46 – a key resistance level, is close to the breakout level that would confirm the formation of a “bullish golden cross”. Additionally, the MACD line is comfortably above the signal line, showing bullish momentum.
Sui price forms a textbook cup and handle pattern, with the breakout likely targeting the $3.60 to $3.70 range. This trend suggests accumulation and continuation of the uptrend.
If momentum holds, SUI could target $4 in the near term, while any pullback could find support at $3.20.
Another Sui Update: Connecting Bitcoin to Sui
Sui had another major update this year with Babylon Labs, and Lombard Protocol is partnering to connect Bitcoin to Sui. Their plan is to attract Bitcoin liquidity into the Sui ecosystem, thereby making LBTC a key piece of the challenge puzzle.
This December, Bitcoin holders can stake their BTC through the Babylon protocol and obtain LBTC, a liquid staking token native to Sui. The move aims to open up Bitcoin’s $1.8 trillion liquidity, fueling lending, borrowing and trading in Sui’s challenge jungle. Lombard’s balance sheet is not fragile either: on Ethereum, its LBTC token has already exceeded $1 billion in issued assets.
Infrastructure support will be provided by Cubist, ensuring staking, minting and bridging operations run smoothly.
SUI aims to be one of the most notable Layer 1s of this cycle. Keep an eye on it!
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