The altcoin SUI has shown significant price increases over the last 30 days.
Sui blockchain hit a milestone of $1 billion TVL in the last 24 hours as per reports.
As another week begins, the crypto community resumes its wait for the full-fledged price rally. Contrary to the weekend’s expectations, Bitcoin has receded to the concurrent $64K causing the community to tighten its hopeful reins on the Uptober landmark. Meanwhile, the altcoin Sui has continued its price rally undeterred by the negative circumstances.
Sui blockchain’s native token SUI has recorded a significant price increase over the past month. Notably, in the last 24 hours, SUI added an additional 4.29% price increase to its bullish rally. The token is currently trading at the $1.7 level inching closer to the $2 milestone.
Specifically, at the time of writing, SUI was trading at $1.74 as per CMC data. Additionally, the altcoin’s daily trading volume surged by a significant 103%. Moreover, Sui witnessed a brief price dip to the $1.6 level in the early hours of September 29 after which it altered its pace on the bull run.
Secondly, on examining the token’s weekly price actions, SUI in light of its upward movements has factored in a 10.20% hike. Furthermore, the recent bull runs have propelled the token’s year-to-date increase to 125.28%. On the other hand, Sui has shown increased volatility in its price movements as indicated by the RVI standing at 60.74 as per TradingView data.
SUI Price Monthly Overview
In September 2024, the Sui, despite market struggles, managed to establish a price rally that accounted for a 111.79% increase in value. At the beginning of the month, SUI traded at a low of $0.7854. Moreover, in August Sui witnessed a bearish market situation as prices dropped further following key market crashes after Bullish May.
SUI/USDT Daily Price Chart (Source: TradingView )
Additionally, SUI’s short-term 50-day MA is moving closer toward a golden crossover to stand above the long-term 200-day MA. If the token manages to refrain from price dips, then the occurrence of a golden cross can be expected. Moreover, SUI’s bull run is further highlighted by its bull power indicator standing at 1.27 while its bear power indicator stands at 0.73.
Additionally, the Sui Blockchain reported hitting a TVL of $1 billion in the last 24 hours. Meanwhile, other cryptocurrencies such as Ethereum and Solana are struggling to factor in major price increases in the last 24 hours.
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