SUI Price Defends $2 Mark: Solana Killer Jumps +7% As Traders Hunt Alternative Blockchains

SUI Crypto is a Solana Killer with monstrous growth in the cross-hairs; dig into SUI price analysis amid +7% pump and discover whether a new ATH is due for this layer-1.

Defending its crown as one of 2024’s strongest altcoin cryptos, Sui Network remains bullish after SUI bulls successfully held the $2 mark, triggering a major +7% pump for the promising layer-1.

It’s no secret that SUI has its cross-hairs on Solana’s crown as the leading layer-1 alternative to Ethereum, especially after recent weeks saw the altcoin crush competitors like NEAR protocol.

In fact, here at 99Bitcoins we have been calling for this Solana Killer since Apri l, so it goes without saying – we told you so.

#SUI just made a positive retest of the broken neckline of C&H formation👀

FULL SEND🚀

🎯Cup's Handle Target – 6.9$
🎯C&H Target – 9.6$ $SUI pic.twitter.com/JottoT03FA

— Alex Clay (@cryptclay) October 29, 2024

At press time, markets are going crazy over SUI after a major technical pattern was confirmed, as prominent traders note an impressive pan-handled pattern breaking out in a bullish signal.

DON’T MISS: The Hottest Undervalued Altcoins in November 2024

SUI Price Analysis: Where Will Sui Network Head Next Amid Bullish Confirmation?

As SUI Price Trading volume in 24h Last 7d price movement remains bullish on the short-time frame, the rising layer-1 is trading at $2.04, representing a 24-hour change of around -1.54%.

Localized retracement throughout this morning’s open has come following a magnificent cup and handle pattern in the chart, which boosts market confidence in a significant recovery signal.

( SUIUSDT )

Vital to this development was the successful defense of the $2 support level, which now forms a psychological lower price level.

Meanwhile, amid the move, a golden cross appeared between the 20DMA and 200DMA at 3PM on Tuesday, further adding to the strength of this emerging breakout move.

On a LTF recovery from a recent all-time high, SUI price now faces higher resistance levels at $2.15 and $2.35.

Despite the energetic move, the RSI indicator also remains remarkably low, with more upside capacity signaled at the current 56.57 reading.

Overall, it seems possible that SUI will push up for a re-test of the $2.35 price level in the coming weeks, especially if backed by an uptick in fundamentals if Bitcoin is able to mount a new all-time high .

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