The price of Sui (SUI) shows mixed signals after a parabolic rise, currently trading 6.5% lower than its all-time high. This coin has recorded an impressive increase of 97.10% over the past 30 days, supported by strong development in the DeFi ecosystem, with total value locked (TVL) reaching $1.75 billion.
While indicators such as BBTrend suggest caution in the short term, the strong arrangement of the EMA lines and the TVL maintaining above $1.4 billion indicate potential strength in SUI's market structure. This altcoin is facing the important level of $3.94, with the potential to reach new highs above $4.00 if the bulls continue to control the market.
Currently, the price of SUI shows strong upward momentum with the EMA lines (exponential moving averages) arranged in a favorable pattern.
The price has significant upward potential, with the nearest targets being the previous ATH at $3.94 and the psychological resistance at $4.00, which would mark a new record high for SUI.
However, it needs to hold key support levels to maintain the uptrend. If a bearish reversal occurs, the price of SUI may have to re-test support levels at $3.32 and $3.10, with $2.97 being the most important floor level.
Breaking below these levels could increase selling pressure, although the current EMA structure still shows that the bulls are maintaining control.