SUI's price has reached an all-time high, with an increase of over 69% in the past seven days. The recent rise has been strongly supported by robust technical indicators, such as the bullish EMA line and the recovering BBTrend.

SUI Total Locked Value (TVL) Hits New High

SUI's total locked value (TVL) reached a historical peak of $1.36 billion, showing strong investor interest and indicating that its usage is increasing.

Total locked value (TVL) represents the total amount of assets staked or locked in blockchain smart contracts, and it is a key factor in measuring the health and adoption of a platform.

The higher the TVL, the greater the user participation, which also reflects users' confidence in the platform's security and potential.

SUI's TVL first reached $1 billion on September 30, after which its growth stabilized. Following a period of consolidation, it successfully set a new high, just like in the past few days.

The BBTrend recovery situation of SUI

SUI's BBTrend has shown positive growth for three consecutive days, during which the price increased by 37%. This sustained positive growth trend indicates that bullish momentum is steadily strengthening, supporting recent price increases. The BBTrend remained positive during this period, suggesting strong buying interest is driving SUI's rise.

BBTrend, which stands for Bollinger Band Trend, is a momentum indicator used to assess the direction and strength of an asset's price movement relative to the Bollinger Bands. A positive BBTrend value indicates an increase in price momentum, while a negative value indicates a downward price trend. On November 10, SUI's BBTrend peaked at 19.17, and although there were several hours of decline afterward, the current value of this indicator is 6.95, suggesting that bullish momentum will re-emerge as buyers return to support the price.

SUI Price Prediction and Analysis

SUI recently reached an all-time high of $3.27, driven by strong bullish momentum reflected by the EMA line. The consistency of these exponential moving averages indicates that the uptrend may continue and is expected to push SUI to higher price levels.

If the BBTrend continues its recent recovery trend and TVL also reaches new highs, these factors combined could propel SUI to set a new all-time high.

However, if the current uptrend weakens, SUI's price may experience a significant reversal. The recent strong support level is at $2.21, which could serve as a safety net when prices decline. If this support level is broken, SUI may face a deeper correction down to $1.96, representing a potential decline of 37.9% from current levels.

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