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Sui (SUI) Could Hit $5 in Fifth Elliott Wave, Says Analysis
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The cryptocurrency Sui (SUI) continues to attract attention in the market, with analysts predicting further advances in its price. Since August 2024, the asset has initiated an upward five-wave impulsive structure based on the Elliott Wave theory, reaching the $4.70a Fibonacci extension of 1.618.
According to an analysis by the Elliott Wave Forecast Team, Sui is currently in a correction phase, called a wave (4)within a support zone between US$3.70 and US$3.10which corresponds to a Fibonacci retracement of 23.6% to 38.2%.
Despite the current correction, the outlook for Sui remains optimistic. The analysis emphasizes that the overall trend is bullish, with strong support during the correction movement. Furthermore, the disruption of $5 it could attract even more investors and drive the price to all-time highs before the end of the five-wave structure.
While the market remains attentive to price forecasts, the sui blockchain it also announces news that can boost its ecosystem. The platform SatLayerspecialized in Bitcoin restoring, for example, revealed an integration with Sui to expand the use of Bitcoin in the decentralized finance (DeFi) universe.
New Sui Launch Drives Interest
According to Jameel Khalfan, global head of ecosystem at Sui Foundationthe combination of Bitcoin’s security with Sui’s scalability and speed offers new possibilities for developers. So, this integration aims to attract projects that seek efficient tools for decentralized and secure transactions.
Another novelty is the launch of the gaming device SuiPlay0X1which promises to revolutionize the crypto-gaming market. Developed by Mysten Labscreator of the Sui blockchain, the device will be capable of running both PC and blockchain games. The game Samurai Shodown Rbased on the classic franchise, is among the titles that will be released exclusively on the platform.
Sui (SUI) Could Hit $5 in Fifth Elliott Wave, Says Analysis
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Sui (SUI) Could Hit $5 in Fifth Elliott Wave, Says Analysis
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Sui (SUI) Could Hit $5 in Fifth Elliott Wave, Says Analysis
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Sui (SUI) Could Hit $5 in Fifth Elliott Wave, Says Analysis
