SUI surged by over 67% in late April as the general crypto market faced a recovery. However, the price recently faced a correction with a correction of about 8% recorded over the weekend. But, the price performance of SUI on Monday May 5, has sparked optimism.
Notably, the 7-week long ‘Death Cross’ is coming to an end and SUI is setting eyes on a Golden Cross. This is a technical formation that is usually associated with a bullish rally. Furthermore, the three-day streak price drop over the weekend could be nothing more than just a cooldown before the boom.
SUI Sets Eyes on an Incoming Golden Cross
Sui blockchains native token SUI is making an impressive comeback as per recent price performance. This comeback comes after several weeks of struggles. On March 19. 2025, for instance, SUI formed a Death Cross — a bearish technical formation that occurs when the 50-day EMA drops below the 200-day EMA. This formation resulted in a drop then sideways price movement followed between the $2.0 and the $2.5 level.
However, in late April SUI found its footing. Fueled by investor confidence as the general crypto recovered from Trump-tariffs shocks, the price climbed by over 67%. But, the rally faced resistance and retraced recently.
Investors have nothing to worry about though. As per the SUI/USDT daily chart on TradingView, SUI is forming a Golden Cross. This technical formation is visible as the 50-day EMA crosses above the 200-day EMA, hence depicting an incoming bullish rally.
The token is trading at $3.41 as of the time of this writing, a surge of over 6.5% over the last 24 hours. Blacked by a spike in volume, SUI can surge further potentially pushing towards $4.
Charting the Journey to $4 or a Retrace to $2
As SUI shows signs of continuing its bullish trend, there are key levels to watch in its price action. Most notably, the coin is currently facing a strong resistance around the $3.58 level. A breach of this level is crucial for the coin to continue its rally to $4.
However, as mentioned earlier, the current surge has to be backed by a surge in volume for the SUI token to grace new heights. An incoming Golden Cross could thus spark renewed buying interest and positive momentum.
However, if SUI fails to breach the $3.58 resistance level, a correction will be more likely. Potential downside movement could push the price back to the $3.0 level. Such an occurrence would further dampen investor confidence and cause a price crash to $2.46 or even lower to $1.93 if panic-selling continues.
Analyst Praises SUI Fundamentals; But is it the New Solana?
SUI is a layer 1 (L1) and smart contract platform that is known to offer the benefits of Web3 with the ease of web2. Most importantly, the blockchain facilitates faster transactions and reduced latency, making it suitable for applications like gaming, NFTs and DeFi. Following the impressive performance by its native token, the SUI blockchain has since garnered praise and comparison to Solana.
In a recent post on X, for instance, “Crypto Salamanca” – a top crypto analyst, suggested that SUI could surpass SOL in the coming days. The analyst views SUI as a blockchain built with stronger fundamentals compared to Solana.
“Is $SUI the new $SOL?..I have been talking about SUI tech a long time ago and was saying that in the future it could surpass $SOL,” Salamanca wrote. He further added that he believes that “the real move is just getting started” and that “strong fundamentals always win.” These statements show strong belief in the L1 blockchain.
Nonetheless, investors must approach the token with caution despite the incoming Golden Cross. SUI, just like other cryptocurrencies, experiences extreme price volatilities. Whether the coin will surge to $4 in the near future or not will depend on volume backing as well as other factors like the general crypto market performance.
