SUI Meteoric Rise: Golden Cross Signals A Potential 380% Explosion

SUI has quickly become a standout performer in the crypto market, posting a dramatic 150% gain from $1.71 to $4.30. Yet, not all is smooth sailing. A $215 million token unlock on June 1, 2025, threatens to introduce major selling pressure. Volatility Meets Opportunity: SUI Charts A Risk-Reward PathAccording to SirRichard’s latest update on X, SUI has exhibited notable price swings, but its long-term outlook remains firmly bullish. The token recently pulled off a remarkable 150% rally, climbing from a low of $1.71 to a high of $4.30. This explosive move caught the attention of traders, especially as it coincided with a golden cross formation on the daily chart, a classic technical signal that often precedes major bullish continuation.Based on this setup, SirRichard believes SUI could be preparing for an even more significant leg up, potentially targeting new highs around the $7.56 mark. If this plays out, it would represent a staggering 380% gain from earlier levels. However, he also warned that the journey may not be without obstacles, particularly as other technical and fundamental signals begin to surface.A recent bearish crossover in the Exponential Moving Averages (EMAs) may hinder SUI’s bullish momentum in the short term. Additionally, the token unlock on June 1, 2025, resulting in the release of approximately $215 million worth of SUI into circulation, poses a potential risk. Such a large supply event could introduce selling pressure and spark short-term volatility if not absorbed smoothly by the market.Currently, immediate support lies between $3.40 and $3.43, which could act as a cushion in the event of a dip. On the upside, resistance is building around the $3.50–$4.00 zone. A firm break above this level would reignite bullish momentum, paving the way for SUI’s next upward surge.Bearish Winds Loom, But On-Chain Strength Holds GroundOn the other hand, if bearish sentiment intensifies, the price could fall toward the $2.33 level, a key support that could be tested. Such a move would likely challenge bullish confidence and introduce volatility in the near term.Despite this, the broader outlook is supported by impressive network activity. SUI’s ecosystem has seen over $40 billion in aggregator volume, a significant metric pointing to strong participation and interest. Even more encouraging is the 24% increase in activity over the last 30 days, highlighting a growing user base and rising utility.These fundamentals serve as a strong counterbalance to short-term risks. If sustained, they could provide a firm foundation for renewed bullish momentum. As such, any price dip may offer a fresh opportunity for long-term investors.Weiter zum vollständigen Artikel bei NewsBTC Weiter zum vollständigen Artikel bei NewsBTC