Sui price has factored in a 481.52% increase in the past year as per TradingView data.
The altcoin’s daily trading volume has shown a 7.82% dip.
The cryptocurrency market has sunk to a bearish trend this past week just hours after inspiring a bull run that reclaimed Bitcoin above $100K. The recent price drop has caused the altcoin sector to show declines as well. Meanwhile, SEC chair Gary Gensler, who is set to resign this month, discussed intensifying crypto regulations in a recent interview.
Meanwhile, one particular altcoin – SUI, has managed to sustain its bullish momentum despite negative environments. Bitcoin sliding to $93K in the past few hours, has not helped its case but SUI still shows modest gains. In the last 24 hours, SUI has factored in an additional 1.37% price increase.
In the afternoon hours of January 8, the altcoin was trading at $4.56 before dipping further to an intra-day low of $4.38. However, it soon sparked bullish candles to trade at current levels. At the time of writing, SUI was trading at $4.63 as per CMC data.
Zooming out, onto its weekly chart, Sui shows a price increase of 5.97% thus proving its strong bullish trend. Its weekly price cycle began at a low of $4.38 as shown by the altcoin’s data. The cryptocurrency appears to be inching closer to the $5 mark as suggestive of its current positive momentum.
How Has Sui Price Progressed Over the Year?
When inferring its price growth over the past year, SUI has clocked in an incredible performance of a 481.52% increase. Having traded at the $1 level for most of 2024, the altcoin quickly took advantage of the Uptober bull run. Further, SUI was also a top performer during the 2024 Alt Season.
SUI/USDT Daily Price Chart (Source: TradingView )
Additionally, on referring to its technical indicators, the altcoin indicates further price hikes as per TradingView data. Its Moving Average Convergence Divergence (MACD) signal stands above the MACD line indicating the positive trend. Secondly, its RSI stands at 52.53 pointing to a neutral market sentiment.
These aspects suggest that SUI might inch closer to another all-time high in the case of sustaining its bull run. Similarly, another altcoin Cardano has shown a modest price increase in the past hour.
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