Can Sui’s Token (SUI) Surge Beyond $2? Expert Weighs In Amid Collaboration With Major Gaming Firm
The decentralized blockchain network Sui has seen its native token SUI experience significant price volatility over the past few days. According to crypto analyst MtukufuMtukutu, SUI saw a massive rally, breaking above resistance at $1.8052 and making a local high of $1.9728.
Temporary Pullback Provides Support Levels
After reaching this peak price, SUI has since retraced in value. MtukufuMtukutu outlined potential support levels that could halt any further decline and provide a base for the next move upwards. Firstly, if SUI can reclaim the $1.9728 level, this analyst sees a bullish move continuing with targets above $2.
Additionally, there is also support found around $1.8052. As long as SUI holds above this level on any pullback, it maintains its bullish outlook. However, losing the $1.8052 support could see SUI fall to around $1.6620. Hence, $1.8052 represents a critical support zone at this stage.
Sui Integrations Drive Network Adoption
Besides price action, there have also been fundamental developments that could support SUI in the medium term. Most notably, blockchain infrastructure provider Stardust announced full integration with Sui to help game developers build projects on Sui.
Stardust outlined how Sui’s ability to handle high transaction volumes at low cost was a key factor in deciding to offer services on the network. With Sui surpassing $500 million in total value locked, Stardust is attracted by the platform’s increasing adoption. By lowering barriers to entry, this integration could significantly expand the range of games and applications being built on Sui.
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Show more +Consequently, while short-term volatility continues, Sui’s improving fundamentals provide causes for optimism around the ongoing growth and utility of the network over the longer term. The coming days will reveal whether bulls can reclaim previous highs or if more pullback is in store before SUI can build on its recent breakout.
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