#sui链
SUI is taking off again, have you gotten on board during this pullback?
This time we might be looking at 4.5!!!
After a brief sell-off, the market has begun to return to the bullish range, triggering a strong rebound. Meanwhile, SUI quickly rebounded, returning to the bullish range.
Recent news about introducing a staking feature for Bitcoin and major collaborations with Babylon Labs, Lombard Protocol, and Cubist reveals the growing dominance in the DeFi space.
In addition to BTC integration and partnerships, the SUI platform has also achieved several other milestones. The ecosystem has registered over 35 million active users, and the total trading volume on DEX has exceeded 32 billion dollars.
This may be the main reason for the 25% increase over the past few days, restoring the possibility of a strong, sustained upward trend and setting new highs in the near future.
The weekly chart of SUI shows that the price has risen above the upward trend line, which is a strong resistance level. Bears have maintained around 3.6, unable to break through these levels.
However, the trading volume has increased, and the RSI is trying to stay in the overbought zone. This might allow the upward trend to continue for a while, paving the way for new highs at any time in the future.
SUI is now one of the top 20 cryptocurrencies by market cap. However, in the past 24 hours, the trading volume has decreased by more than 36.5%, while the price has maintained a significant upward trend. This indicates that sellers have largely withdrawn, which may further pave the way for a sustained upward trend, breaking through the 1 FIB level of 3.68 dollars. From now on, a continuous rise above this level could elevate the level to 1.2 FIB of 4.5 dollars at any time.
If anyone is confused by the market fluctuations and doesn't know how to deal with being stuck, or feels misled during the trading process, feel free to communicate!
I am Old Li.