🚨Alert: SUI Price Prediction for August 2024
Sui (SUI), a layer 1 blockchain, has recently gained attention with an impressive price surge of over 11% in the past 24 hours as of August 11, 2024.
Reasons for SUI's Price Increase
This surge is likely due to a 92% rise in SUI’s open interest, combined with a key Grayscale announcement on August 8, 2024. A recent breakout also contributed to the price jump.
SUI Price Prediction
On August 9, 2024, SUI broke through a resistance level at $0.89, potentially paving the way for a further 20% increase to $1.15. However, $1.15 is another resistance point that could challenge further gains. If SUI breaks above $1.20 and closes above this level, it could reach $1.40 within August.
Despite this rally, SUI remains below the 200 EMA, signaling a downtrend. However, the RSI suggests a potential price reversal as it's in the overbought zone.
Price and Open Interest Trends
Currently, SUI is trading near $0.94, with an 11% surge in the past 24 hours, though trading volume has dropped by 20%, indicating lower participation. Meanwhile, open interest has continued to rise, suggesting bullish sentiment and increased interest from investors and traders.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE
⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
