The price of SUI is showing recovery signals, with a notable 20% rise in the last 24 hours. Despite the Total Value Locked (TVL) being under $1 billion, recent inflows demonstrate renewed interest and user engagement. The market is looking for upward trends as key indicators improve.
The BBTrend indicates a shift from bearish to potentially bullish, showing weakening downward pressure. EMA lines suggest a forthcoming "golden cross," which is a positive signal for further price increases and upward movement.
SUI's TVL is currently at $970 million, up from $313 million in early August. A higher TVL points to greater adoption, user engagement, and liquidity within the ecosystem. The fluctuations in TVL underscore active user interactions and confidence in SUI's growth potential.
Although still below $1 billion, SUI’s TVL spiked by nearly $100 million in a day, signifying market interest. Users appear confident, engaging more actively, and are suggesting growing strength and a weakening of bearish momentum.
The BBTrend, while negative at -4.8, shows signs of recovery from a low of -15, hinting at a possible trend reversal. The upward movement suggests a weakening bearish momentum and a possible bullish shift as buying interest starts to re-emerge.
The EMA lines indicate a potential "golden cross," signaling short-term buyer control and stronger momentum. If SUI surpasses the immediate resistance at $2.16, prices could further rise to $2.36, representing a 19.7% gain.
However, if the uptrend fails to establish, SUI might test support levels at $1.74 or $1.60, potentially leading to more bearish pressure. Holding above these levels is crucial for maintaining positive momentum and growth prospects.
