SUI's price has significantly increased by 97.10% in the past month, positioning the coin just 6.5% below its all-time high. This growth has been supported by the expansion of its DeFi ecosystem, with the total value locked (TVL) reaching an impressive $1.75 billion.
Technical indicators like BBTrend recommend caution due to potential short-term volatility. However, strong EMA alignment and sustained high TVL suggest that the SUI market structure remains robust, offering potential for further gains, especially if bulls maintain control.
The TVL growth from $665 million to $1.75 billion in nine days signifies robust investor confidence, pointing to sustainable progress. This high TVL underlines SUI's growing acceptance and utility, essential for any upward pricing pressure.
Conversely, the BBTrend indicator recently turned negative, indicating increased volatility and selling pressure. Traders often view such negative crossovers as sell signals, leading to potential short-term price corrections, but extreme negative readings can also indicate oversold conditions.
SUI's future price prediction sees a potential rise to $4, contingent on overcoming the current resistance at $3.94. While EMA trends and bullish momentum favor growth, market resilience at support levels around $3.32, $3.10, and $2.97 is crucial.
If these supports hold, SUI could reach new heights, but breaching them might induce a selling trend, despite overall market control by bullish forces.
