Date: Fri, Oct 11, 2024, 03:21 PM GMTThe cryptocurrency market is bouncing back, with Bitcoin (BTC) recovering from yesterday’s dip to $59K and now trading near $62K. This rebound has triggered rallies in several altcoins, with Sui (SUI) standing out. Over the past 24 hours, SUI has surged by over 12%, and it has climbed an impressive 133% in the last 30 days.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/21cebf88895042099d4d16661fba49f2.png" />Source: CoinmarketcapDespite some market-wide selling pressure that briefly pushed SUI down to a key support level around $1.60, the token has quickly bounced back, attracting the attention of traders eager to capitalize on its upward momentum.<h3 id="is-sui-verge-on-the-mega-breakout">Is SUI Verge on the Mega Breakout?</h3>Prominent crypto trader <a href="https://x.com/ggg_crypto/status/1844741545011859886" rel="noopener noreferrer nofollow">&#64;ggg_crypto</a> shared a chart showing that SUI could be on the verge of breaking out after consolidating for 530 days. According to his analysis, the token is currently trading around the $2.00 mark, and if it closes a daily candle above $2.17, it could spark a significant rally.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/6a92483281f5497bb8e95aceee26db89.png" />Credits: &#64;ggg_cryptoEarlier this week, another well-known analyst, &#64;CryptoBullet, also <a href="https://coinsprobe.com/is-sui-primed-for-a-10-breakout-with-this-cup-and-handle-pattern/" rel="noopener noreferrer nofollow">pointed </a>out a bullish signal on SUI’s chart. He noted that a classic &#34;cup and handle&#34; pattern is forming, which is often a precursor to a major breakout. He stated:&#34;I know it might be tempting to sell $SUI here, but it’s the wrong timing, in my opinion. We’re now seeing the 4th test of the $2 level! The more a level is tested, the more likely it is to break.&#34;<img src="https://academy-public.coinmarketcap.com/optimized-uploads/1ac2bc6bc8394b9f9849aa5de9c68bd8.jpeg" />Credits: CryptoBulletAccording to &#64;CryptoBullet, the repeated testing of the $2 resistance level is a strong indication that SUI is gearing up for a significant move. If the resistance is broken, he predicts SUI could potentially rally all the way to $10, especially if the broader market turns bullish.<h3 id="what-to-expect-next">What to Expect Next?</h3>With analysts leaning bullish, and SUI’s Total Value Locked (TVL) growth, memecoin activity, and record-breaking daily transactions, all eyes are on whether the token can break out from its current consolidation. If SUI closes above $2.17, a substantial rally could be on the horizon.Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.Also Read: <a href="https://coinsprobe.com/fresh-crypto-tokens-poised-for-big-gains-your-path-to-wealth-starts-here/" rel="noopener noreferrer nofollow">Fresh Crypto Tokens Poised for Big Gains – Your Path to Wealth Starts Here.</a>

Is SUI Primed for a Mega Breakout After 530 Days of Range Consolidation?

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