SUI surged 21% after Coinbase allowed New York residents to trade it, sparking a buying frenzy. The move came right after an $86.86 million token unlock, defying expectations of bearish pressure. SUI’s unlock eclipses upcoming releases this month, outperforming rivals like Litecoin and Hedera.

The rally pushed SUI above $1.6, breaking key resistance levels. Strong spot purchases and high volume support the breakout, with RSI at 44.41 suggesting a trend rotation. A close above $1.92 could invalidate the November downtrend, with $1.32 as key support.

SUI’s price surge outpaced competitors like Litecoin and Avalanche, showing the impact of the New York listing. The rally lifted RSI to 44.41, signaling a trend rotation. Despite resistance at $1.92, a close above could signal further gains towards $2.72, while $1.32 remains key support.

Read more at Yahoo Finance: SUI Token Surges 21% Following Coinbase New York Listing Approval