đ„Highlightsđ„
âĄSUI price is less than 2% from surpassing the All-time-high resistance of $2.17.
âĄSUIâs daily transactions surged 120% in October, indicating growing user adoption and increased network activity.
âĄBybit's Launchpool supports SUI as its first native token, strengthening SUI's position in the DeFi space.
SUI price posed to surpass $2.18 ATH resistance amid TVL surge, soaring daily transactions, and Bybit Launchpool support the SUI pool.
The SUI price surged 12.7% during the U.S. market trading sessions, currently trading at $2.07. The bullish trajectory can be attributed to TVLâs surge above the $1 Billion mark, and Bybitâs Launchpool supports SUI as its first native token. Will the recovery break ATH or selling waiting for a counter-attack?
đ„SUI Price Gives $2 Breakout as Daily Transactions Soar 112%; All-Time High Incoming?đ„
According to Artemis data, the SUIâs daily transactioFns skyrocketed from $4.1 Million to $9.0 Millionâ a 120% surge in October. This sharp increase is driven by key developments such as Bybitâs launch pool support, SUIâs Total Volume Locked (TVL) surge, and high momentum price rally.
The uptrend in SUI transactions indicates heightened user activity, contributing to a more secure and robust network.
đ„Bybit Boosts SUI Ecosystem with Launchpool Supportđ„
Bybit Launchpoolâs recent decision to support the SUI pool as its first native token is a significant step for both Bybit and the SUI ecosystem. This move strengthens SUIâs presence in the DeFi space, as the integration into a major exchange brings increased visibility and liquidity.
Bybit also shares the replacement of the existing USDT pool with the USDC pool. Bybitâs recent introduction of the NAVI token from the SUI ecosystem further solidifies its commitment to supporting and expanding the SUI network.
By press time, the SUI price traded at $2.13, while the market cap was $5.9 Billion.
đ„SUI Stands 1% Away From New Highđ„
The Layer-1 cryptocurrency SUI emerged among the highest-performing digital assets in September. From the recent bottom of $0.75, the SUI price surged 180% to trade at $2.18.
A bullish breakout from the $2 psychological level will give buyers potential support to challenge the ATH resistance of $2.17. A successful flip of overhead resistance into potential support could drive SUI price to $2.5 next.
While the SUI price is poised to hit new highs, the oversold technical indicator suggests that the buyers must be exhausted. The Average Directional Index (ADX) at 54% hints the altcoin could enter a temporary pullback to recuperate the bullish momentum.
Currently, the 20-day exponential moving Average at $1.65 and 50 EMA at $1.35 stand as pullback support for crypto buyers.
đ„How close is SUI to breaking its all-time high price?đ„
SUI is currently trading at $2.13, just 1% away from surpassing its all-time high of $2.17. A breakout above this resistance could push the price to $2.5 in the next rally. 2/2
đ„What are the key support levelsđ„
The 20-day exponential moving average (EMA) at $1.65 and the 50-day EMA at $1.35 serve as key pullback support levels for SUI
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