The native token of Sui (SUI), a layer-one blockchain network, has seen a surge of over 9% in the past 24 hours, rising from $1.87 to a recent high of $2.04. The surge comes amid a bearish trend in the global cryptocurrency market, with major coins such as Bitcoin (BTC) and Ethereum (ETH) trading in the red.
This surge was fueled by SUI’s recent integration with Google Cloud, a partnership made possible by ZettaBlock. This partnership enables developers to access real-time blockchain data via Google Cloud’s Pub/Sub service, opening the way for innovative decentralized applications (dApps). Additionally, SUI developers gain access to valuable blockchain data via Google Cloud’s BigQuery public datasets, providing powerful tools for analytics and insights.
These integrations are particularly useful for AI applications that need constantly updated data to function optimally, as developers can now get live data from the Sui blockchain in real time. This technological advancement has contributed to boosting investor confidence in the SUI coin.
SUI Coin Performance and Market Outlook Despite the recent surge in price, SUI’s performance has been volatile lately. Over the past week, its price has dropped by more than 3.5%. After hitting an all-time high of $2.36 on October 14, the coin has dropped by nearly 13.56% to its current price of $2.04. This correction comes after a staggering surge of over 120%. However, the altcoin still holds a notable 35.50% increase over the past month.
SUI Price Performance According to TradingView Technically, the daily chart of SUI/USDT is showing a bullish crossover, with the 50-day moving average crossing above the 200-day moving average, indicating a potential uptrend. Additionally, the Relative Strength Index (RSI) at 61.75 shows an increase in buying momentum.
If this trend continues, the coin could target resistance at $2.18 and possibly rise above $2.25. However, any pullback could push the price towards key support levels around $1.94 and possibly lower to $1.65.