In recent days, the SUI cryptocurrency has been showing signs of strengthening, maintaining key support levels. An increase in network activity suggests a potential upward movement.
Current SUI Market Situation
Market analysts note that SUI is forming a bullish setup by holding above the 200-day moving average. A significant rise in active wallets supports confidence in SUI's potential recovery. Traders focus on the possibility of a breakout above significant resistance despite short-term fluctuations.
Technical Analysis of SUI
Analysis of the daily chart of SUI reveals a higher low formation, indicating growing buying interest. Holding the 200-day moving average strengthens the bullish outlook. Bollinger Bands show that the lower band acted as support during recent dips. Validation of bullish momentum requires a move above $3.50.
Market Sentiment and SUI Price Outlook
SUI's daily trading volume has increased to $1.74 billion. Many traders expect a breakout above $3.50 to trigger a rally to $4.00 and beyond. Holding key technical levels and increased network activity support a bullish outlook. Further growth could be observed if market conditions remain stable, particularly if Bitcoin holds its position.
Overall, the SUI cryptocurrency demonstrates resilience by maintaining key support levels and showing an increase in network activity. These factors indicate a potential upward movement, which could continue under favorable market conditions.
