🚀 SUI Surges to New Highs
Sui (SUI) has experienced a bullish breakout, reaching $3.12. The token gained 9.3% in the last 24 hours and 65.36% over the past week, driven by a trading volume of $4.63 billion. This has boosted SUI’s market cap to $8.87 billion with a circulating supply of 2.8 billion tokens.
📊 Technical Analysis & Key Levels
Crypto analyst Michaël van de Poppe highlighted key Fibonacci retracement levels: $2.092 (0.618) and $1.889 (0.382) as strong supports. The level at $1.729 is noted for aggressive entries. If the bullish momentum continues, SUI could target $5-$6 in this cycle.
📈 Indicators Signal Bullish Momentum
SUI is trading near the upper Bollinger Band, showing strong momentum. The Relative Strength Index (RSI) stands at 78.35, suggesting overbought conditions that may lead to short-term corrections. The Aroon Indicator confirms the trend, with Aroon Up at 100% and Aroon Down at 0%.
💰 Growing TVL & Market Potential
DefiLlama reports SUI’s Total Value Locked (TVL) at $388.24 million, indicating increasing interest in its dApps. The fully diluted valuation (FDV) is estimated at $31.21 billion, highlighting significant market potential as new tokens are introduced.
🔥 Outlook
With strong indicators and rising trading volume, SUI maintains its bullish trajectory, setting new price benchmarks and attracting investor interest.
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