Sui Price Prediction: SUI Targets $2 as Grayscale Announces Sui Trust for Accredited Investors

Sui price is on a tear, gaining 13.1% in the last 24 hours and becoming the largest gainer in the top 100 coins on CoinGecko.

Sui price is rallying among the top gainers, surging over 13% in the last 24 hours. The asset is currently trading at $0.972 and has broken above the $1 mark once again. Sui price has been attempting to reclaim this level since June and has tested it twice in August. Now, in September, the asset is making its third attempt to hold above $1.

This recent price performance follows an announcement from Grayscale, stating that Sui (SUI) Trust is now available to accredited investors.

Accredited investors are typically defined as having a net worth of $1 million or more, excluding the value of their primary residence, or having an annual income of $200,000 or more (or $300,000 together with a spouse) for the last two years and a reasonable expectation of continuing to do so in the current year.

This move from Grayscale is significant as it opens the door for institutional investors to gain exposure to Sui, a third-generation blockchain designed to help address scalability and transaction costs.

Those interested in learning more about Grayscale Sui Trust can click below or reach out to the Grayscale team.

Grayscale Announce Sui Trust Availability To Accredited Investors For $SUI – Get Grayscale Sui Trust Now or Learn More

This announcement is likely to have a substantial impact on SUI, considering that accredited investors usually make up a small percentage of the population but have the capacity to influence markets heavily.

Moreover, from a technical standpoint, the price of SUI is forming a bullish market structure on the daily time frame. Sui price broke above the 50-day and 200-day exponential moving averages (EMA) on September 8.

After forming a death cross on May 24, suggesting that the following months would be bearish, Sui is now attempting to print a golden cross on the daily chart.

The main resistance for SUI price remains at $1.00, considering that the asset has broken past it in the past but failed to sustain trading above it. If the daily candle manages to close above the $1.00 mark, it could signal a shift from bearish to fully bullish for SUI.

Interestingly, SUI also just completed forming an ascending triangle, which is a bullish continuation pattern. A breakout to the upside from this structure could add at least 47% to the current price of SUI, bringing it to $1.48. If the buy momentum remains strong, SUI could rally further and reach $2.00.

On the other hand, if SUI fails to maintain trading above the ascending triangle, it could indicate market weakness, and the asset price may fall back into the triangle below the 200-day EMA. A further downside move could invalidate the current bullish thesis as the price seeks lower support around $0.75 and $0.64.

Futures Traders Are Betting On A $2 SUIpiv

A glance at the futures premiums shows a high chance of a rally to $2, considering that the Relative Strength Index is currently at 65 and heading upward, indicating strong buy momentum and suggesting that higher highs are likely.

Coinglass data shows that traders have opened seven times more Longs than Shorts, suggesting that the market is currently bullish because traders are largely anticipating that prices may surge higher.

Traders have opened the largest trades with the biggest leverage sizes at $0.982, $0.96, $0.90, and $0.883. If the price breaks below these levels, it could drop further, considering that $0.98 – $0.883 represents the daily buy wall.

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