Could SUI Follow NEARs Recovery Pattern for Massive Gains?
- SUIs current correction mirrors NEARs multi-month rally and subsequent crash, indicating potential rebound.
- Crypto Bullet believes SUIs market behavior resembles NEARs, predicting a strong recovery by year-end.
- Despite recent fluctuations, analysts expect SUI to bounce back, mimicking NEARs recovery pattern for future gains.
SUI is currently in a correction phase mimicking a multi-month ramp-up of NEAR, followed by a crash-like spike. This has indicated to some investors that SUI also might be experiencing a similar movement to what NEAR experienced in its latest correction.
SUIs Price Action Resembling NEAR
Crypto Bullet also noted that NEAR has just gone through a powerful drift of 80% after the price had some awesome performance. This easily can be evidenced by three clear lower lows in succession. Overall, there is a correlation between SUI and similar changes in the price action and corrections. However, Crypto Bullet continues to believe in the predictions of SUI token growth.
Source: X
Analyst have noted that SUIs price action somewhat resembles NEAR. Both had increased significantly, found the bottom, and dropped like wild swings. consequence, for token, the correction resulted in a tremendous recovery. Analyst are almost certain that SUI could pull a similar stunt and steadily recover, perhaps achieving double-digit prices by year-end.
However, the analyst believes that the fundamentals of SUI are strong enough to cushion the drop in the price of its share, as evidenced in the following ways. He has expressed no intention of selling his stake during the current downturn, as he forecast a recovery.
SUIs Potential for Reversal
The current performance of SUI in the market situation is under discussion. Traders ponder whether it is headed for a similar recovery as NEAR. Similarly, the potential for a considerable price jump is present if SUI experiences the same progression. SUI is the asset for which Crypto Bullet remains confident to invest even after a slight negative movement in the trend.
The price of SUI is still lower than before, but there is still potential for it to go up again. Based on the chart pattern analysis, it also shows that the asset may have reached the point of a reversal. Given the current position, the movement of SUIs future is expected to go up as analysts expect a bounce back any time soon. Despite market fluctuations, SUIs future looks favorable in the long-run.
The performance of SUI will likely remain quite popular as the market progresses. The short-term traders and long-term investors closely watch how this reacts to the current pullback. If SUI also mimics the pattern of NEAR, it will regain its progress, and be vital for the investors.
Read more: https://www.tronweekly.com/could-sui-follow-nears-recovery-pattern-for/
Text source: TronWeekly
