Will The SUI Rally Continue? 🤔 🚀
🧧$SUI
SUI, the native token of Sui Network, which serves as a Layer-1 blockchain, experienced an impressive price increase last week. The value of SUI has increased by 119% in the last seven days, surpassing the $1 level as of writing time. While this increase delights altcoin investors, it is said that SUI's earnings environment in cryptocurrency circles could grow even more.
SUI Price Rise
SUI has experienced a major increase in trading activities over the past few days. According to data provided by Santiment, SUI's daily trading volume has risen to $580 million in the last 24 hours. This increase shows that interest and activity in cryptocurrency has increased.
The increase in the price and trading volume of an asset indicates that more people are willing to invest in this asset. The value of SUI tends to increase due to this high demand. In addition, SUI's Moving Average Convergence (MACD) indicator reveals the increase in altcoin demand.
How Many Dollars Will SUI Be?
SUI's Elder-Ray Index has also been showing a positive appearance since August 8. While the index value is reflected at 0.27, this reveals the power of bulls and bears in the market. The fact that the value is above zero indicates that bullish activity is stronger than the bearish pressure.
This index reflects the possibility of an ongoing price rally that buyers are in control of the market. The initial target for SUI may be at $1.12, but it depends on the continued demand. DYOR
