SUI has increased by more than 7%, hovering beyond the $4 mark. It has earned over 53% in the last 30 days.
Crypto Market’s recent recovery attempts have brought a green wave across assets, bringing a market capitalization of $3.89 trillion. The majority of the assets are charted with greens trying to climb higher, including Bitcoin and Ethereum. The value of the fear and greedy index is stable at 64, reflecting the market’s greedy sentiment.
Following the moderate bullish lawsuit, Altcoin, SUI registers profits above 7.45%. A sustained upside down correction could lead to prices rising and more profits could be focused on. The assets were traded at a low range of $3.65. When Mighty Bulls stepped in, the price broke resistance between the $3.69-$4.01 zone, with prices heading towards a high of 4.07.
At the time of writing, SUI was traded within $4.04 and reached a market capitalization of $13.97 billion. Meanwhile, daily trading volumes rose 3% to $1.76 billion. In particular, the market has witnessed the liquidation of SUI worth $2.58 million in the last 24 hours, as reported in Coinglass data.
Can the bull keep pushing and holding the SUI high?
The SUI’s moving average convergence branch line is above the zero line, but the signal line is still below. It shows early signs of bullish momentum coming back. MACDs moving over the zero line are a reverse of potential trends. What’s more, the Chaikin Money Flow (CMF) indicator has settled at 0.17, suggesting moderate purchasing pressure in the market that flows into the assets. Gives opportunities for potential uptrends to continue.
An upside down fix in the SUI could push the price up to around $4.10 to nearby resistance. Assuming the Bulls explode above this level, they could probably send the price to the $4.16 zone. On the downside, assuming an upward trend in SUI, the Bears may pull back prices and retest immediate $3.98 support. Losing this range could potentially start a sudden correction to the previous low at $3.92.
Furthermore, a read of Bullbear Power (BBP) at 0.3348 means that momentum appears to be in favor of the bull. The daily relative strength index (RSI) value for SUI is 61.23 points. Before the possibility of pullbacks, there is more space and prices are closer to the acquired territory.
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