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SUI Continues Bullish Run, Surges 45% In The Past Week — What Next? Newsbtc 21 Eyl 2024

SUI Continues Bullish Run, Surges 45% In The Past Week — What Next? 📈

The interest rate cut by the US Federal Reserve has led to recoveries in large-cap assets, including a notable performance by Sui (SUI). The token has surged 45% in the past week, currently standing at $1.50, showcasing a significant bullish trend.

Initially consolidating around $0.8, SUI breached the $1 mark in mid-September and swiftly reached $1.5. This performance is partly due to Sui network's recent partnership with Circle to expand USDC issuance to its blockchain, enhancing liquidity and user adoption.

Currently, SUI is testing the $1.5 resistance level. A successful break could propel it to $1.80, while a failure might see it drop to $1.0125. The RSI indicator suggests potential overvaluation as it is in the overbought region, advising cautious investment. Nonetheless, rising open interest fuel the token's bullish sentiment.

SUI's open interest stands at about $383 million, reflecting a 9% increase in the past day. Overall, the recent developments and market movements make SUI one of the top performers among the largest cryptocurrencies by market capitalization.

Kaynak: www.newsbtc.com ↗

Benzer makaleler (154)

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SUI Poised for Potential Price Gains as Trading Volume Surges Ahead of APT’s Performance Coinotag 1 gün önce
SUI Poised for Potential Price Gains as Trading Volume Surges Ahead of APT’s Performance
SUI’s Potential Rise Amidst BTC Dominance: Could Layer-1 Tokens Thrive Again? Coinotag 3 hafta önce
SUI’s Potential Rise Amidst BTC Dominance: Could Layer-1 Tokens Thrive Again?
Considering the Current Market Sentiment: Could SUI Experience a 20% Drop if Price Fails to Hold Above $2.2? Coinotag 08 Eki 2024
Considering the Current Market Sentiment: Could SUI Experience a 20% Drop if Price Fails to Hold Above $2.2?
SUI Token Declines 11.7% with Broader Sui Ecosystem Downtrend Coinotag 04 Eki 2024
SUI Token Declines 11.7% with Broader Sui Ecosystem Downtrend
SUI Price Outlook: Can Recent Net Inflows Sustain Momentum Against Solana and Ethereum? Coinotag 1 hafta önce
SUI Price Outlook: Can Recent Net Inflows Sustain Momentum Against Solana and Ethereum?