Sui is among the top gainer cryptocurrencies today with a 30% spike in the last 24 hours. $SUI is trading at $0.837 at the press time and seems bullish. After last week’s market downturn, $SUI maintained its position among the cryptocurrencies which are still in the bull run. The increased positive sentiment and social chatter signal a bullish trend for $SUI in the coming days.
Sui successfully broke out of its downhill zone and pasted 3 huge green candles on the 4-hour time frame. Based on Sui’s recent performance, crypto traders are eyeing $SUI and predicting that it is more likely for Sui to reclaim $1 soon.
Statistical Price Analysis of $SUI
Currently, $SUI is trading at $0.837 with a 24-hour trading volume of $389,974,279 which is also up by 56.30%. Sui attained its all-time high (ATH) a couple of months back which was $2.18 in March 2024 but dropped to $0.4831 during the market crash last week. However, Sui came out of the shakeout strongly on the back of good retail buying.
Sui pumped very well during the last 24 hours and is now testing the resistance level range to attain a new ATH value in the coming days. If we look at the graph, we shall come to know that $SUI is breaking all the barriers and showing a steady upward movement and is expected to test and cross the resistance level to regain its lost price value.
🚨BREAKING NEWS: @Grayscale launches a new SUI fund!World-renowned institutions are diving into Sui! Cutting-edge tech, unmatched utility, and its builders creating the internet of the future.Huge kudos to Grayscale for moving on SUI! by @TheBlock__ https://t.co/YbtGIojLLH
— Sui (@SuiNetwork) August 7, 2024
Yesterday, Sui shared exciting news through its official X account that Grayscale has launched a new $SUI fund which acted as a catalyst and pumped Sui’s price by 30% in 24 hours.
SUI Price Prediction for August
Based on the statistical price analysis of Sui, it is more likely for Sui to hit $1 in the short term and $1.4 by the end of August. And, if Sui maintains its position in the bull run, $SUI might regain its lost legacy and set a new all-time high (ATH) in the coming days if the market supports.
Many crypto investors are eyeing SUI and investing in Sui because of its unpredictable upward movement. Sui is one of those crypto assets which have shown significant and sudden growth after the shakeout and can be proved a valuable asset in the coming time.
