Cryptocurrency Sui has experienced significant growth, reaching a new all-time high of $5.35. In this article, we examine the current metrics and future prospects for SUI.
Current Market Analysis of SUI
Notably, SUI is currently trading at $5.22, up 6.01% over the last 24 hours. Its trading volume surged by 44.63% to $2.59 billion, with a market cap of $15.69 billion. The volume-to-market cap ratio stands at 16.53%. SUI’s fully diluted valuation (FDV) is $52.2 billion, based on its total supply of 10 billion tokens, with 3 billion in circulation.
Technical Indicators
Analysis of the 4-hour chart indicates that SUI is trading above key moving averages, reflecting bullish momentum. The 9-period moving average (MA) is at $5.13, while the 21-period MA is at $4.72. The crossover of the shorter MA above the longer one signals potential continuation of the uptrend.
SUI Prospects and Forecasts
SUI faces immediate resistance at $5.35, the recent all-time high. If this level is breached, the price may target $5.50 in the short term. On the downside, key support lies at $5.13, followed by a stronger base at $4.72. A break below these levels could trigger further declines toward $4.15.
The bullish crossover in moving averages and high RSI levels indicate strong momentum for SUI. The integration of Haedal Protocol’s solutions for liquid staking and DeFi could drive further adoption, reinforcing Sui’s position in the crypto market.
