$Sui is an altcoin that has the potential to hit a new all-time high in October 2024. SUI is priced at $1.62 and has gained 94.95% in the past 30 days. This performance could be related to the Grayscale Sui Trust recently launched by the asset management company.
Moreover, the demand for Sui is quite strong and many predict that it will become the Solana (SOL) of this cycle. Currently, Sui is 25% away from breaking out of its previous high. The daily chart shows that SUI’s attempt to retest $2 failed due to the $1.77 resistance level.
Nevertheless, a pullback that pulled the coin close to the $1.60 support area could precipitate a rebound. The price is significantly above the Ichimoku Cloud, indicating the presence of support. When the Cloud is below the price, there is less resistance, which increases the chances of SUI reaching higher values.
As things stand, Sui could rise by 40% in October, taking the price to $2.25. However, this prediction could be invalidated if the coin is rejected at $2.00. In this case, it could drop to $1.50.
