On February 1, 2025, Sui
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released 80.14 million new SUI tokens, representing 0.80% of its total supply. Market uncertainty intensified with new tariffs on Canada and Mexico, triggering volatility. SUI dropped to $2.65 but now shows signs of recovery. But what could be the target?
Before the token release, SUI’s price experienced a sharp 30% decline, reaching a low of $2.65. However, it later rebounded by 24%, climbing back to around $3.32.
Looking ahead, experts have varying forecasts for SUI’s price trajectory. Some predict an average price of $8.06 in 2025, with a potential high of $9.08. However, these projections remain contingent on broader market conditions and investor confidence.
SUI Price Analysis: How Is Sui Crypto Shaping Up For February 2025?
(SUIUSDT)
SUI has entered a downtrend after peaking at $5, with the price breaking below key support levels and the 100-day moving average (MA). The decisive breach of the $3.20 support level has confirmed bearish momentum, turning it into immediate resistance. This signals a shift in sentiment, with sellers firmly in control.
The next critical support lies at $2.00, a historical consolidation zone. Below this, the $1.0 level becomes a vital area of interest, aligning with the last major accumulation phase.
The 100-day MA, which previously acted as support, now serves as a dynamic resistance. Any recovery attempts will face challenges around this level and the $3.20 resistance zone. If the price stays above this level, it could signal a possible point for a reversal.
The RSI (Relative Strength Index) is now in oversold territory, indicating potential for a short-term relief bounce. However, oversold conditions in strong downtrends often lead to temporary rebounds or consolidations rather than full reversals. A relief rally might target $3.00–$3.50.
The market seems to be recovering after the huge liquidation that wiped out $2.2 billion in 24 hours. A potential relief rally may be on the horizon after Mexico’s President Claudia Sheinbaum announced a one-month pause on U.S. tariffs following talks with Donald Trump.
Meanwhile, U.S. President Trump has also spoken with Canada Prime Minister Trudeau regarding the tariffs’ impact. And SUI could benefit, at least in the short term, from this news.
$SUI PA is following the exact same playbook as $SOL in the early days
Solana did more than 15x shortly after that
How much do you think Sui will go from here ? pic.twitter.com/vfJ7J9QXhb
— Coinvestor.sui (@Coinvestor777) February 2, 2025
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The post SUI Price Analysis After Canada Drama Spooks SUI USD Ahead of Token Unlock appeared first on 99Bitcoins.