Sui (SUI) Price Prediction: SUI Regains Bullish Momentum Targeting $4 and $4.50

Today, the cryptocurrency market is regaining its bullish momentum. Bitcoin (BTC) has surged over 5% in the last 24 hours, hitting a new all-time high of $93,434.

Cryptocurrency prices are rising again today. Bitcoin (BTC) has added over 5% in the last 24 hours, reaching a new all-time high of $93,434.

Several altcoins are also accelerating as Bitcoin gains. Among them, Sui (SUI), a top layer-1 blockchain token, is showing strong upward movement, rallying by 7.30% and trading at $3.35 at the time of writing.

This rise is backed by a major market development and a crucial technical breakout.

Major Development: VanEck Lists SUI-Based Product on Euronext

In a significant development for SUI, global asset management company VanEck recently launched a SUI exchange-traded note (ETN) on Euronext Amsterdam and Paris. This ETN offers European investors a way to gain exposure to SUI’s high-throughput blockchain, designed for decentralized finance (DeFi) applications, without needing to directly purchase or hold the SUI token itself.

The ETN is now available for access in several European countries, such as Germany, France, and Sweden. This move by VanEck showcases growing institutional interest in the SUI ecosystem and may further increase SUI’s visibility and adoption throughout Europe.

Key Technical Breakout: Potential for a Rally Ahead

Along with the positive news from VanEck, SUI is also displaying a key breakout on the 30-minute timeframe. The token recently broke out above the $3.32 level, moving out of a consolidation zone where it had been trading for a while. This breakout level of $3.32 is now acting as strong support, helping to secure the recent gains and bolstering further upward momentum.

The last time $SUI I broke out from a similar consolidation zone was on November 9, when the token saw a rally of over 40%, climbing from $2.37 to $3.32. Considering the similar technical setup this time, there is potential for another rally that could push SUI toward psychological resistance levels of $4 and possibly $4.50.

Price Outlook

With strong support at $3.32 and bullish sentiment from the VanEck listing, SUI seems poised for further gains. If buying pressure persists, SUI may be heading toward its next major targets of $4 and $4.50. However, it’s crucial to keep an eye on market volatility and broader crypto trends, which could impact SUI's momentum.

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This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.

#SUI🔥 #NFA