Will $SUI Hit $5 This Week?
The Sui token has gained attention in the crypto space with a rally of over 800% in 100 days. The altcoin has surged nearly 120% since November 1, signaling growing adoption and interest.
With its price movement resembling Solana’s 2021 bull run, investors are eager to uncover the factors driving its growth this month.
SUI Price Corrects After Hitting a New All-Time High
After reaching a new all-time high, SUI saw a slight correction in the last 24 hours, with trading volume at $2.381 billion. Despite this, the altcoin has surged 54.39% in 30 days and added over 800% since August, outperforming top cryptocurrencies.
Technical Analysis: Bullish Momentum Rising
MACD: The Moving Average Convergence Divergence (MACD) shows a growing green histogram on the daily chart, indicating strong buying pressure.
SMA: The Simple Moving Average (SMA) has provided support for over a month, reinforcing a positive long-term outlook for SUI.
If bullish momentum continues, SUI could retest its $4.75 resistance. Holding this level may push the token past $5 and toward $5.25 by month-end.
However, a bearish reversal could see SUI revisit $4.4. If selling pressure increases, the price might drop further toward $4.
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