LIVE$SUI
How close is #Sui to lead the #Alt market again? When will current price brakes its resistance ?
February was a historic month for the SUI, as it won "the best block chain solution #2024 Euroasia award", became one of the top 10 Defi infrastructures by TVL and the top 5 Defi ecosystem by daily active addresses among others.
These developments geared its price to reach ATH ($1.92), on February 14 and kept trading at daily average price of 1.79 until it has broke bullish momentum on the last days of the month. As of March 1st, it's price remained in pullback trend, currently it's price seems consolidating around $1.567.
Based on daily trading chart, current support level is around $1.5 and resistance level is around $1.76.
To reverse current bearish trend, it needs to break the resistance level and maintain $1.8 price level. Today it has tested 1.8 level for short period of time before it goes back to its current average position.
(Final Thought) Teea believes that, for long term holding, Sui is one of the best assets in crypto-verse. Though, for short term it's likely to thrive to win existing market competition.
One of the key barriers for it's price pump is frequent token unlocking event which increases the circulating supply and cause increased inflation.
Given its positive development and good opportunities coming with BTC #having its likely for the price to double from current value with in next 2 months.
Note that crypto market condition is highly dynamic. DYOR.
