Sui Network’s native token, SUI, is on the brink of a potential breakout, exciting traders and investors alike. After a strong recovery this week, $SUI has rebounded to $5.06 and is gaining momentum. With bullish technical indicators and growing market interest, $SUI could soon surpass its previous all-time high (ATH) of $5.36 and aim for a new ATH of $6.35.
SUI’s Path to New Highs
$SUI hit its ATH of $5.36 earlier this week but quickly retraced, finding support at the 61.8% Fibonacci retracement level. This level was drawn from the November 26 low of $2.96 to the ATH of $5.36. After stabilizing around $4.45, the token is now trending upwards, with bullish momentum suggesting a breakout is imminent.
Key technical levels to watch:
Immediate Resistance: $5.36 (previous ATH).
Next Target: $6.35 (141.40% Fibonacci extension).
If SUI maintains its current trajectory, surpassing the $6.35 target could open the door to new highs and solidify its bullish outlook.

Technical Indicators Signal Growth
1. Relative Strength Index (RSI)
Current Level: 60 (above neutral 50).
Interpretation: Strong bullish momentum with room for further upward movement.
2. Moving Average Convergence Divergence (MACD)
Bullish Crossover: The MACD line has crossed above the signal line, signaling a buy opportunity.
Suggests: Strengthening buying pressure in the market.
3. Open Interest (OI)
OI increased from $1.20 billion on Wednesday to $1.32 billion on Friday.
Indicates: Fresh buying interest, further supporting the rally.
4. Long-to-Short Ratio
Current Ratio: 1.13 (highest in over a month).
Reflects: More traders are betting on SUI’s price rising, indicating strong bullish sentiment.

Potential Risks and Support Levels
While the outlook for SUI is bullish, traders should watch key support levels:
$4.45: Current support level. A drop below this could invalidate the bullish thesis.
$3.94: The next major support level if $4.45 fails.
Maintaining momentum above $5.36 is crucial for reaching the $6.35 target and beyond.
What’s Driving SUI’s Bullish Momentum?
1. Strong Market Sentiment: Coinglass data shows rising open interest and a bullish long-to-short ratio.
2. Technical Resilience: SUI has respected key Fibonacci levels and maintained an upward trajectory.
3. Bullish Indicators: Positive RSI and MACD signals indicate strong buying pressure.
4. Increased Investor Activity: Growing trading volume and interest signal increased confidence in SUI.
Conclusion: Can SUI Reach $6.35?
With strong technical indicators and growing market enthusiasm, SUI is well-positioned for a breakout. Surpassing its previous ATH of $5.36 could propel the token to $6.35, aligning with the 141.40% Fibonacci extension level.
However, traders should remain cautious of key support levels at $4.45 and $3.94 in case of market pullbacks. Overall, SUI’s impressive recovery and bullish outlook make it one of the top tokens to watch in the coming weeks.
#SUI #SuiNetwork #CryptoInvesting

South Korea’s Bithumb Launches DEEP Token Trading on Sui Network
Bithumb, one of South Korea’s largest cryptocurrency exchanges, has announced the listing of the DeepBook Protocol (DEEP) token. Starting January 8, 2025, DEEP is available for trading in the Korean Won (KRW) market.
The trading will commence at 3:00 PM with a base price of 230 KRW, giving users the opportunity to trade the token directly against the national currency.
Bithumb Launches DEEP Token Trading on Sui Network
According to the Bithumb notice, DEEP token will work only on the Sui network, and the token deposits from other networks will not be accepted.
The deposits and withdrawals were opened right after the announcement of the official timing limit which was two hours. According to Bithumb, it takes 20 network confirmations for deposits to be credited to users’ accounts.
To foster a fair and secure trading process during its launch, some certain measures have been put in place. New buy orders are not accepted in the primary market during the first five minutes of trading session.
The sell orders are also limited to within ±10% and ±100% of the base price during this time period. Additionally, the automated trading will be allowed only after the first trade has occurred.
An official said in an interview, “These measures are put in place to protect the market and prevent price manipulation during the initial trading period.” The listing of DEEP comes after Bithumb added other tokens like PEAQ and Vana to its KRW market in recent days.
Deposit and Withdrawal Guidelines
In compliance with the Travel Rule, Bithumb has observed that deposits and withdrawals shall only be made through supported exchanges. Tokens received from other unsupported platforms will not be credited to users’ accounts and the refund process may extend to several months.
Before transferring their DEEP tokens, users are recommended to double-check the deposit address as well as the network.
The exchange also informed its users that dealings through restricted exchanges may result in account limitations in accordance with the exchange’s terms of service.
“More specifically, when making deposits or withdrawals, please confirm that the token is on the same network and has the same address as your Bithumb account,” the exchange said.
DEEP Token Performance and Technical Analysis
The DeepBook Protocol (DEEP) has been quite bullish, with the price sitting at $0.1741 and a 24-hour trading volume of $56.1 million as of the time of writing. On the DEEPUSD 3-hour chart, the market has formed a rising wedge pattern, which is a bearish pattern.
During the rally, the price is trading close to the resistance level of $0.1750 with the support levels being at $0.1536(50 MA) and $0.1174 (200 MA).
On the DEEP price chart the short-term 50 moving average is currently positioned above the long-term 200 moving average. This crossover is usually seen as a buy signal, meaning that the token has continued to rise in the short-term.
Nevertheless, it seems that this momentum is slowing down as the price nears the upper border of the wedge. If the price falls downward from the pattern, analysts believe that it may continue to decline to $0.10 levels.
On the contrary, if the $0.1750 level is breached on the upside, then there could be an upward trend.
#Bithumb #SouthKorea #SuiNetwork #CRYPTO #Cryptonews

Is Sui Price Poised to Break $6 or Stuck in a Bearish Trend?
Sui Price surges before retracing to key levels. Analysts evaluate SUI's breakout potential or continued bearish momentum amidst market corrections
SUI price surged to a new high of $5.35, fueled by bullish momentum, before facing a market correction. The token has since retraced below $5, marking an 8.58% decline from its all-time high.
This pullback has sparked speculation about SUI’s future trajectory. Analysts now question whether the token will reclaim bullish momentum to break $6 or remain stuck in a bearish trend.
Is Sui Price Heading for a Bullish Surge or Bearish Plunge?
The crypto analyst highlights that Sui price token firmly maintains its position within an ascending channel on the daily chart. This trend showcases a promising bullish trajectory, gaining attention among market watchers.
The analysis suggests a potential pullback to the $4.2385 support level, providing traders with a significant opportunity for bullish continuation. Such a scenario may bolster confidence in the token’s upward movement, encouraging additional buying activity.
Looking ahead, the upward momentum points to notable price targets at $5.81, $6.81, and potentially higher levels. These targets align with the strengthening trend and ongoing positive sentiment surrounding the asset.
SUI Technical Analysis
The layer one soared to a new all-time high of $5.35 on January 6, marking a 20% weekly surge. The token, however, quickly retraced to $4.90, sparking debate over its future price movement.
Meanwhile, Bitcoin experienced a market correction, dropping below $98,000 after briefly surpassing $102,000, leading to significant liquidations. Investors are now closely monitoring SUI’s trajectory amidst shifting market conditions and the broader impact of Bitcoin’s correction on altcoin performance.
At the time of the report, the SUI price is trading at $4.9115, reflecting a slight increase of 0.38%. The current price action places it within a critical range, bordered by the $4.8656 support and the $6.00 resistance levels. This range indicates a consolidation phase, suggesting traders await a decisive breakout.
The Relative Strength Index (RSI) is at 45, trending downward from the overbought. This decline signals weakened bullish momentum, hinting at potential sideways or bearish price movement unless a reversal occurs. The Awesome Oscillator (AO) shows diminishing positive momentum with red bars emerging.
Sui price is at a pivotal stage, poised between bullish breakout potential and bearish continuation. Whether SUI will break $6 or remain under pressure depends on market dynamics and key support levels.
#SuiNetwork #SUİ #Altcoins #Cryptomarket #Cryptonews