The Sui price pumped over 5% in the last 24 hours to trade at $3.57 as of 6:23 a.m. EST as investors start to go long on the altcoin.
With the recent gain, the SUI price was able to boost its weekly performance out of the red. It also pushed its monthly gain up to more than 89%.
Sui Price Oscillates In A Sideways Range
4-hour chart for SUI/USD (Source: GeckoTerminal)
The Sui price has been in a consolidation phase between $3.2913 and $3.8206 over the last few days. It briefly dipped under the lower boundary of this channel, but has since recovered to back within the sideways range.
In the last couple of hours, the Sui price has printed a series of higher highs and higher lows on the 4-hour chart. If this positive trend continues, the crypto could soon flip the upper boundary of the sideways channel at $3.8206 into support. A 4-hour candle close above this mark might then give the Sui price the space needed to rise to the next barrier at $4.3624.
A rejection from the upper boundary of the consolidation channel might stop the Sui price in its tracks. Traders might then start to take profit and exert sell pressure on the crypto. This could lead to a drop to the $3.2913 mark. In an extreme bearish case, the Sui price might plunge to as low as $2.7495 in the short term.
Technicals Warn The Sui Price Might Fall In The Coming Few Hours
Technical indicators on the crypto’s 4-hour chart suggest SUI’s positive momentum is already starting to cool off. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) warn the crypto might continue to oscillate within the sideways channel in the coming 24 hours.
RSI readings broke above the 50 benchmark in the last couple of hours. Although this suggests bulls have gained an upper hand against bears, the negative slope of the RSI line warns the window of opportunity might not be around for long.
The MACD line also crossed above the MACD Signal line earlier in today’s trading session. Traders usually see this specific technical event as a sign that a crypto has entered a positive cycle. Now, the gap between the two lines is starting to shrink. This might be an early indication of an upcoming reversal of the positive trend.
While SUI attempts to break out of its consolidation phase, investors are flocking to layer-2 meme coin Pepe Unchained (PEPU) for potential parabolic gains as the project gears up for its highly-anticipated launch.
A Layer-2 Meme Coin About To Take The Crypto World By Storm
Pepe Unchained (PEPU) is unlike all of the meme coin projects that came before it, because it comes with its own layer-2 blockchain. Using its native network, the project will elevate the Pepe brand to new heights in the crypto space by freeing the popular meme from the congested and slow Ethereum mainnet.
By giving Pepe a new framework to hop to, Pepe Unchained will unlock an enhanced transactional experience for the meme’s fans. Once PEPU launches, investors will be able to send crypto 100 times faster than they were able to with the legacy PEPE. What’s more, transaction fees will also be a fraction of the cost.
Pepe Unchained’s layer-2 network will also serve as a scalable platform for the next generation of decentralized applications. This comes after the team launched its developer grant initiative. Additionally, the project will compete directly with the Solana meme coin launchpad Pump.fun with a token creation platform of its own.
Several experts are bullish on PEPU given its layer-2 capabilities, upcoming applications and the newly-deployed meme coin launchpad. Among them is an analyst from the 99Bitcoins YouTube channel, which boasts more than 706K subscribers. In a recent video, the analyst said PEPU could soar 100X after its launch.
Speculation Of A Binance Or Coinbase Listing Has Ignited A Frenzy Around PEPU’s Presale
Pepe Unchained recently crossed above the $56 million milestone with its blockbuster presale, signaling strong investor confidence in the project’s future. Crypto investors will likely continue to flock to the meme coin’s ICO, with just 15 days left until the meme coin’s highly-anticipated launch.
Shh!🤫 We snapped an insider picture of Pepe coding his L2! pic.twitter.com/BxoCFauXH0
— Pepe Unchained (@pepe_unchained) November 26, 2024
A frenzy has also erupted around the meme coin after the team announced that tier-1 exchange platforms are ready to list PEPU. This has led to speculation that Binance or Coinbase might add the token to their list of tradable assets. A listing on either of these exchanges could cause a surge in PEPU’s price, similar to how PEPE’s price soared after it scored a Coinbase listing.
Purchase PEPU here before its tier-1 exchange listings.
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