Today, the lead analyst at InvestingHaven.com has revised upward his price targets for SUI (SUI). In particular, the support areas for SUI in 2024 and 2025 have been set significantly higher. The higher price targets for SUI in 2025 are now taking center stage.
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According to the latest changes on the SUI price prediction research page, the changes include:
- Stretched bullish target for 2025 still at $8.88, but probability is increasing of this stretched target to be hit.
- Buy the dip level in 2025 now significantly higher at $1.50.
- Support level for 2024 revised upward to $1.39.
Let’s revise the SUI chart, but also what is driving these SUI forecast revisions.
SUI continues to expand and innovate
One of the most important conditions for upward price revisions is utility.
Utility is a result of development, first and foremost expansion.
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In recent developments, SUI has proven to be able to continuously develop and expand their ecosystem. One of the most striking developments of late was shared in this post:
🎉Native $USDC has officially launched on Sui! We’re proud to be the first #Move-based Layer-1 to partner with @circle 🫡
⚡️This is no ordinary stablecoin. USDC enables seamless Web3 interactions in the real world. From purchasing a #SuiPlay0X1 to movie tickets, you will be… pic.twitter.com/gjGVJQgDhD
— Sui (@SuiNetwork) October 8, 2024
While there is no direct utility improvement with this development, we see an indirect impact by improving accessibility and user friendliness.
Moreover, the number of transactions on the SUI network keeps on growing, surpassing 4,000,000 on-chain users.
When combined with other developments on the SUI network, we are giving a ‘thumbs up’ when it comes to development and expansion.
SUI price targets
In essence there are 2 major developments in ‘Uptober‘ (which as proven to be ‘up’ for a select few tokens only, but ‘not so up’ for the vast majority of cryptocurrencies):
- Fundamentally – Innovation, expansion, development.
- Chart – Amazing chart dynamics.
Below is the up to date SUI price chart, with our revised SUI price targets.
Readers should pay special attention to the rising trendline which leads to our 2025 bullish target (right top of the chart, see purple box).
SUI price target of $8.88, really?
Our most bullish SUI price target for 2025 of $8.88, as explained in our SUI prediction research, was considered a stretched target. Note that is SUI price target is not shown on the above chart.
So far, we considered it a stretched target.
As of today, we start sensing that this target may be hit even before the end of 2025.
The odds are rising. But, again, those are odds, nothing is given in financial markets, as SUI price targets are directly influenced by broad market dynamics which are highly uncertain currently.
Continue reading – Can SUI Ever Reach $100?
