The post Ethereum Price Still Stuck Below 2023 Levels, Why is ETH Struggling While SUI & UNIL Explode appeared first on Coinpedia Fintech News
Ethereum (ETH) is set to start May with a positive monthly candlestick since December 2024. This comes after the Ethereum price surged by over 42% in a week, bringing it closer to the $2,500 levels. However, despite the rally, the Ethereum price is still stuck below its 2023 levels, as Sui (SUI) and a new project known as Unilabs (UNIL) continue to record impressive gains.
Sui’s price movement has already recorded a weekly rally of over 45%, reigniting bullish sentiment toward the SUI blockchain, backed by its Q1 report. Similarly, Unilabs, the first AI-backed DeFi asset manager, with more than $30M AUM, has already grabbed investors’ attention with a presale price of just $0.004.
Ethereum (ETH) Price Bounces Off Key Support Levels
Ethereum price has been hovering within a bearish outlook as the ETH token dipped below the $1,500 level earlier in April. However, amid the improving macroeconomic conditions, the Ethereum price movement has regained a bullish outlook, after breaking out of a descending channel.
On May 11th, the Ethereum price surged above the upper trendline, suggesting a potential improvement in momentum while invalidating the bearish outlook. This has seen its RSI move above the 55 level, indicating a building bullish momentum.
Ethereum’s strongest support lies within the $2,397 level, where over 4M addresses hold 6.75M ETH in profit. With the ETH demand outweighing selling pressure at key levels, the Ethereum price movement seems ready to break through these resistance zones, targeting the $2,700 level and potentially reclaim 2023 price levels.
Sui (SUI) Eyes $4 Amid Over 45% Weekly Surge Backed By Its Q1 Report
The SUI blockchain has experienced a significant boost in activity with a staggering 245% surge in DEX volume during the first quarter of the year. This indicates the rising user adoption and developer activity within the SUI blockchain. The expansion of protocols such as Walrus within the SUI blockchain has contributed to a more complete yet self-sufficient ecosystem.
The Q1 performance also paints a promising future for the SUI blockchain. The surging Sui DeFi volume, expanding BTCfi, and increased ecosystem activity will create a powerful flywheel effect for the token. On Thursday, 8th, Sui recorded an over 10% daily surge to break above a key barrier, followed by a weekly rally of over 45%.
Source: CoinMarketCap
This rally is significant for the SUI token, which has been on a multi-month dipping trend since hitting its ATH of $5.35 four months ago. A rally above the $3.92 level will also confirm another major rally, which could propel Sui’s price movement toward the $4.00 resistance level, putting a new all-time high on the menu if it holds momentum. Additional SUI blockchain growth will also add to its uptrend momentum in Q2.
Unilabs (UNIL): Where AI Meets DeFi
Unilabs (UNIL) is a decentralized asset management platform that merges artificial intelligence-driven strategies with DeFi and traditional finance principles. The platform features more than $30M in assets while offering access to four specialized AI-powered funds, including BTC Fund, AI Fund, and Mining Fund, providing users with exposure to different market trends and risks.
Unilabs’ key innovation lies with its tokenized ROI model, enabling users to hold yield-backed tokens with real-time NAV tracking. Moreover, investors can boost their earnings through staking, generating passive income while enhancing the ecosystem’s liquidity. Unilabs will also leverage a multi-strategy execution approach, allowing artificial intelligence to shift between market segments, including meme coins, on real-time data.
To encourage community engagement and growth, Unilabs will incorporate a referral layer, allowing users to earn by bringing others into the UNIL ecosystem, all while being educated on the platform’s income-generating opportunities. This has already seen UNIL raise over $225K in funding with a low entry price of just $0.004.
Will Unilabs (UNIL) Match Ethereum (ETH) and Sui (SUI) Previous Rallies?
The SUI blockchain has registered massive gains as the Ethereum price regains a bullish outlook. On the other hand, Unilabs is well-positioned to capitalize on the ever-growing AI market by providing accessible, AI-driven investment tools tailored to institutional and retail investors. Its low entry price also gives investors a unique opportunity to join in early before the UNIL price surges.
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