The SUI price has stabilized at $2.25, showing promising signs for future growth with a market cap standing at $7.23 billion.
SUI Current Market Insights
According to CoinMarketCap data, the current price of SUI is $2.28, reflecting a 1.26% increase over the last 24 hours. The market cap has grown by 1.55% during this period, reaching $7.23 billion. The 24-hour trading volume stands at $460.6 million, down 29.75% compared to the previous day. The fully diluted valuation (FDV) is $22.8 billion, with a circulating supply of 3.16 billion SUI. The price peaked at $2.29 over the past day. The volume-to-market cap ratio is 6.37%, indicating moderate trading activity.
Price Pattern and Potential for Upside Move
According to observations by CryptoElites, the SUI price chart shows the formation of a cup-like structure, which may signal future growth. The price has repeatedly tested and bounced off the $2.25 support level. This can suggest the formation of a base for a potential rally, possibly reaching a target of $41. The forecast is based on a continuing pattern, with resistance levels at about $4 during 2024. The current position of the price in relation to past lows and highs suggests the possibility of another upward leg towards the $40 range in the medium term.
Recent Movements and Market Analysis
Market data shows that SUI is experiencing fluctuations and testing key support zones. Recent price movements reflect potential for further upward momentum as the price holds around the support zone. This could indicate further growth if the current patterns continue. Analysts note that if the price maintains its current levels, there could be movement to higher marks in the future.
In conclusion, despite fluctuations, the SUI price shows stability at the $2.25 level, laying the groundwork for potential advancement to $41 in the future.
