SUI Reclaims Key $2.40 Support Amid Breakout – Is A New High Coming?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Sui Network’s native token, SUI, has reclaimed a crucial level after its 10% price breakout. The token has shown bullish momentum over the past few days, climbing to weekly highs on Wednesday. Various market watchers suggested the momentum could send the cryptocurrency to new highs in Q2. Related Reading SUI Reclaims Key Breakout Level Today, SUI, one of the cycle’s leading tokens, retested the $2.60 resistance for the first time in nearly three weeks after reclaiming a key support zone on Tuesday. The cryptocurrency has lost several crucial levels during the Q1 2025 retraces, falling over 50% from its January all-time high (ATH) to a four-month low of $1.96. However, it has regained momentum amid institutional adoption, including its partnership with World Liberty Financial (WLFI), US President Donald Trump’s crypto venture, and Canary Capital’s recent filing of a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC). The cryptocurrency moved toward the $2.45 mark in the following days, suggesting that holding this level could send SUI to the next crucial barrier. After pulling back to $2.20, the token’s momentum resumed on Saturday, rising 13% in the past week after printing five consecutive green candles. Amid its performance, some analysts noted that SUI reclaimed the key $2.40 support, which served as a significant resistance during the post-US elections breakout and a bounce zone during the February retraces. Analyst Michäel van de Poppe suggested that the token is “one to keep an eye on,” highlighting that the “tremendous” retest of the high timeframe support “indicates that we’re likely going to expand to the upside from here.” SUI reclaims key horizontal level. Source: Michäel van de Poppe on X Is It Ready For New Highs? In the past 24 hours, SUI surged 10% to the $2.60 resistance, hitting a 20-day high of $2.65 on Wednesday before retracing. As various market watchers pointed out, this price action has seen the token break out of a multi-month falling wedge pattern. A retest and confirmation of the breakout level could propel the token to attempt to reclaim its two-month downtrend. Analyst Sjuul from AltCryptoGems considers that the cryptocurrency should be “ready to go” to the $2.80 mark, based on its “bullish market structure and nice strength.” Previously, Ali Martinez suggested that after reclaiming the $2.45 level, SUI would be poised for a 15% move to this area. Related Reading Moreover, the token could also surge toward a new high if history repeats itself. Since 2023, SUI has broken out of a multi-month falling wedge twice, in October 2023 and August 2024, which propelled the cryptocurrency to new ATHs in the coming months. Meanwhile, trader Crypto Bullet noted that the cryptocurrency has recently reclaimed the 365-day Exponential Moving Average (EMA) after trading below it over the past few weeks. According to the trader, holding this level as support could impulse the token’s rally toward its January high of $5.37. As of this writing, SUI trades at $2.58, a 5.5% increase in the daily timeframe. SUI’s performance in the one-week chart. Source: SUIUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
SUI Ready For 15% Move Amid Key Level Retest – Breakout Or Breakdown Ahead?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. SUI, the Sui Network’s native token, is retesting a key support level after surging near the $2.40 mark. As the cryptocurrency attempts to hold its current range, some analysts suggest that a breakout is imminent for the token’s price. Related Reading SUI Eyes Key Resistance On Monday, SUI saw its price surge 7% near a key resistance level, fueling bullish sentiment among investors. The cryptocurrency has been one of the leading tokens of the cycle, outperforming most of the market during the 2024 pullbacks. Nonetheless, the cryptocurrency has shredded over 57% of its gains in the past few months, falling from its $5.31 January all-time high (ATH) to the $2.20 range. After losing the $4 support zone, SUI has hovered between the $2.1-$3.5 zone, briefly falling below $2 last Tuesday. Since reaching its 4-month low, SUI has recovered 7.8% in the weekly timeframe, climbing to $2.37 today. According to analyst Ted Pillows, its recent price action has completed an inverse head and shoulder pattern, with the price potentially moving toward the $2.45 breakout level. A sustained surge above this level could send the token to retest the recently lost $2.6 support. To the analyst, “a big breakout is just a matter of time,” as institutions are taking interest in the token. Notably, Canary Capital filed a Form S-1 for an SUI spot exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC) on March 17, fueling yesterday’s 7% rally. This move follows Canary’s March 6 filing to register a trust for an SUI-based fund in Delaware. On the same day, Sui announced it had partnered with World Liberty Financial (WLFI), the US President Donald Trump’s crypto venture, to include the token in its “Macro Strategy” token reserve. $2.26 Retest: Breakout Or Breakdown? Crypto analyst Ali Martinez suggested that the token is ready for a 15% move. In an X post, he highlighted a one-week ascending triangle pattern forming in SUI’s chart, with the ascending support line currently at the $2.26 mark and $2.40 set as a crucial resistance level. According to the analyst, the 15% move’s direction will be determined by a close above the resistance line, which would send the price to the $2.80 price range, or a close below the support level, which could see the cryptocurrency plunge to $1.90. Since hitting its daily high of $2.37, SUI has retraced to the pattern’s support level, briefly falling to $2.22 before bouncing back above the ascending line. Despite the small recovery, the token has struggled to hold above the crucial level, hovering between $2.23-$2.26 throughout Tuesday morning. Related Reading Meanwhile, market watcher Pushpendra Singh highlighted SUI’s current level as a “strong buying zone.” The $2-$2.3 price range served as a key breakout level during the November post-US election pump. Moreover, its recent retest and bounce from this level suggests a “breakout to the upside could be imminent.” According to the post, the cryptocurrency eyes the $7 target in the mid-term. As of this writing, SUI trades at $2.25, a 5% decline in the daily timeframe. SUI’s performance in the one-week chart. Source: SUIUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
SUI Rallies 10% After Securing Deal With Trump Finance Arm
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. World Liberty Financial (WLFI), a DeFi group linked to US President Donald Trump, has added Sui (SUI) to its strategic reserves. The move is part of WLFI’s strategy to develop a broad portfolio that supports blockchain-based financial solutions. Related Reading Sui Joins Other Major Crypto Assets Since its introduction in September 2024, WLFI has established a strong influence in the cryptocurrency space. Wrapped Bitcoin (wBTC) and Ethereum (ETH) are already in its reserve, and Sui is the latest addition. Donald Trump Jr. and Eric Trump, Web3 ambassadors, lead the initiative. Barron Trump, the president’s youngest son, is also participating and referred to as a “DeFi visionary.” Their objective is to promote stablecoins and other decentralized financial technologies. 🚨 BREAKING — we’re extremely excited to announce a partnership with @worldlibertyfi, a Donald J. Trump-inspired pioneering DeFi protocol, rooted in a shared vision for a more open and transparent financial world. As part of this collaboration:💥 WLFI will include SUI in their… pic.twitter.com/7J1gB0EbS4 — Sui (@SuiNetwork) March 6, 2025 Why WLFI Chose Sui? Sui, developed by Mysten Labs, is recognized for its fast transactions and ability to scale effectively. It was built to support a large number of users while remaining cost-effective, making it an excellent choice for financial applications. The fact that WLFI added SUI to its stockpile shows that it has faith in the future of blockchain technology. The group is dedicated to keeping a wide range of digital assets and supporting important Web3 projects. In his role as WLFI’s Web3 Ambassador, Eric Trump was genuinely excited about the alliance. He said that the blockchain’s roots in American innovation and the company’s ability to grow were two things that stood out to him. 🚀 Sui just partnered with World Liberty Financial, a Trump-backed DeFi protocol, leading to a surge in the token. Sui will integrate its layer 1 blockchain with WLFI’s financial strategies, enhancing their strategic token reserve to support DeFi projects. Read more here:… — The Defiant (@DefiantNews) March 6, 2025 Co-founder and CEO of Mysten Labs—the company behind Sui—Evan Cheng was hopeful about how the alliance would transform asset preservation and usage worldwide. He said everyone shared the same objective: giving individuals back control over their financial resources and digital presence. SUI is now trading at $2.82. Chart: TradingView Market Reactions Meanwhile, the news of the partnership announcement gave the token some boost, rising 10% in the last 24 hours, data from Coingecko shows. The collaboration was praised by investors who saw it as a major endorsement of the blockchain’s technology and importance in WLFI initiatives. This agreement enhances Sui’s position in the DeFi market. As a relatively new project, WLFI benefits from aligning with a strong blockchain like Sui, helping to strengthen its market presence. Related Reading Next Steps For WLFI And Sui WLFI and Sui are expected to continue collaborating on blockchain-based financial solutions. While specific plans have not been disclosed, the addition of Sui to WLFI’s reserves suggests a deeper partnership in the future. Featured image from Pexels, chart from TradingView
World Liberty Financial WLFI Token Sales Surge: Less Than 1 Billion Tokens Remain
Este artículo también está disponible en español. World Liberty Financial (WLFI), a forthcoming cryptocurrency platform endorsed by President Donald Trump and his sons, has reported a significant uptick in the sale of its governance tokens. After a slow initial rollout approximately four months ago, Bloomberg reports that the platform has sold over 24 billion of its WLFI tokens, representing more than 96% of its total supply. As it stands, fewer than 1 billion tokens remain available for sale. World Liberty Financial Token Sale Sparks Debate The World Liberty Financial token, priced at 5 cents each, is part of a broader initiative aimed at raising $300 million at a $1.5 billion valuation. Related Reading The project launched its token sale in mid-October, with the intention of enabling token holders to propose changes to the platform and vote on others’ proposals. However, the limited rights associated with the WLFI tokens have raised concerns. Holders possess minimal voting rights and no economic entitlements, and the tokens cannot be traded or sold back to World Liberty, prompting questions about their long-term value and utility. Adding to the intrigue surrounding World Liberty Financial, crypto entrepreneur Justin Sun, founder of the TRON blockchain, recently disclosed a substantial investment of $45 million into the venture. This increased Justin Sun’s total stake in World Liberty Financial to $75 million, indicating strong confidence in the platform’s potential. TRUMP And MELANIA Tokens Experience Wild Price Fluctuations Analysts are speculating that forthcoming executive orders from Trump could positively influence the cryptocurrency landscape in the US, yet skepticism remains among industry veterans. Nic Carter, a venture capitalist, expressed concerns regarding the ethical implications of a sitting president engaging in business ventures that may present conflicts of interest. The launch of Trump’s memecoins has also stirred significant controversy. As previously reported by NewsBTC, the Donald Trump memecoin (TRUMP) saw a sharp decline, dropping from a weekend high of $75 to $17. Related Reading Similarly, the Melania Trump memecoin (MELANIA) disrupted the market with increased excitement among crypto investors, with its value fluctuating dramatically from a high of $13.64 to its current trading price of $1.26. Bernstein analysts have characterized this period as a “chaotic crypto era,” suggesting that government involvement with cryptocurrencies could redefine the relationship between leadership and emerging technologies. They argue that the launches of Trump and Melania’s memecoins could signal a potential regulatory shift, positioning digital assets as a direct link to a wider audience. The 4H chart shows TRUMP’s price downtrend. Source: TRUMPUSDT on TradingView.com While trading at $17, TRUMP is posting significant losses of 6%, 2% and 70% in the 24 hour, fourteen day and monthly time frames respectively, coupled with a 27% drop in trading volume, according to CoinGecko data. Featured image from DALL-E, chart from TradingView.com