The widely followed encryption analyst says that the Layer-1 blockchain SUI (SUI) is preparing for a large brake out with a fresh high.
In a new thread, Kaleo, a clear encryption merchant, says the SUI suddenly offers a major purchase opportunity to 703,900 followers in social media platform X.
He said that the SUI’s value has decreased with the recent $ 223 million hack, a decentralized exchange (DEX) operated by the SUI network, but ultimately gives Bulls a chance to raise the next leg.
“Remember the last cycle. Is SOL declared that SOL has been declared because of the decrease, and it’s stronger every time Fud (fear, uncertainty and doubt) is purchased.
CETUS has returned to a recovery plan for officially affected pools. There is also a token compensation plan for the affected user. Due to the CETUS problem, it is more strong to show how SUI GOVERNANCE collaborates to prevent the exploitation of the protocol and the hackers can raise funds.
Free cope with the sideline. But I have been strong since I have partnered with SUI, which has the opportunity to fill the gap between Monolithic L1 (Layer-1) race. Place the turbo. ”
Based on his chart, the merchant seems to be suggesting that SUI suggests a new print at a maximum of $ 7.50 in September this year, which is more than twice the current value.
Analysts also say that the SUI is preparing to escape from an optimistic descent net pattern for Bitcoin (BTC).
“The SUI/BTC ratio also looks firm with a clean brake out retest. I see this soon to fill the lunch.”
At the time of writing, SUI is trading at $ 3.45.
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Created image: Midjourney