케이슬롯 【보증업체】 가입코드 이벤트 쿠폰；온라인바카라

카지노사이트 태양성카지노；바카라사이트；카지노사이트킴

Ronaldo Marquez — Tue, 15 Oct 2024 11:00:34 +0000

Layer 1 blockchain protocol Sui (SUI) has made headlines recently, recording an impressive 120% increase over the past 30 days, allowing the protocol’s native token SUI to outperform the top 10 largest cryptocurrencies on the market, culminating in a new all-time high of $2.35 on October 13.

However, since this peak, the token has retreated by nearly 5%, largely due to growing concerns over allegations of insider selling among the project’s stakeholders.

Can SUI Match Solana’s Success?

Market expert LightCrypto took to social media platform X (formerly Twitter) on Sunday to express his skepticism about the sustainability of SUI’s recent gains. In a lengthy post, he noted SUI’s substantial rise, which has quintupled from its previous lows of $0.5 on August 5, amid the broader market crash that occurred that day.

While the market appears to be eager for new winners, with macroeconomic conditions pointing to further price gains, LightCrypto raised two critical points that could undermine SUI’s upward trajectory.

Firstly, the expert questioned the rationale behind SUI’s current $23 billion fully diluted valuation (FDV), particularly when compared to Solana’s $73 billion according to Coingecko data.

LightCrypto argued that it no longer makes sense to assume SUI can replicate Solana’s success, especially given that it currently trades at just a quarter of Solana’s market valuation. The expert further challenged the community to articulate a compelling risk-reward scenario that justifies such a disparity, asking whether SUI has demonstrated even a fraction of Solana’s potential.

Potential Market Correction Looms

Secondly, LightCrypto alleged the worrying trend of insider selling, indicating that insiders, including what is believed to be a large endowment fund, have dumped around $400 million in tokens during the recent rally.

The expert noted that this selling trend has not only occurred at higher price levels, but has also been ongoing since much lower valuations.

Ultimately, LightCrypto believes that the acceleration of these sales may create a disconcerting atmosphere for retail investors, who may be buying tokens from those best informed about their true value.

The implication is stark: as these supposed insiders cash out while retail investors chase momentum, the potential for a market correction looms large, potentially threatening the token’s current rally.

Despite these allegations, SUI, currently trading at $2.24, continues to see significant investor interest in the token, with trading volume up 36% in Sunday’s session, valued at approximately $1.7 billion.

Furthermore, regardless of LightCrypto’s troubling findings, corrections are normal after a token hits a new record high, with the clear example of Bitcoin (BTC), which has been unable to come close to that level since hitting a new record high of $73,7000.

What is certain is that if the expert’s claims prove to be true, it could further exacerbate a potential correction in the SUI price, with the first major support level for bulls being the $2.046 area. Featured image from DALL-E, chart from TradingView.com

카지노사이트

Semilore Faleti — Sun, 13 Oct 2024 06:00:34 +0000

Sui (SUI) has been one of the most popular crypto assets of 2024, with notably high market gains and drastic price losses over the year. The altcoin is currently moving sideways following a recent price rally in the last week. As usual, these consolidative movements draw much speculation on the token’s next price action.

SUI To Record ATH At $2.50, Analyst Says

In an X post on Saturday, market analyst Michaël van de Poppe dropped a new price target for SUI based on its current bullish momentum. According to data from CoinMarketCap, SUI recorded a 30.01% profit in the last seven days, emerging as the second-highest weekly gainer in the crypto market. Amidst this price gain, the digital asset already notched a new all-time high of $2.28. However, Van de Poppe’s forecast projects the altcoin to maintain its current uptrend and attain a new peak between $2.30 – $2.50.

However, looking at the SUI daily chart, certain indicators present an alternative view. For example, the asset’s price is well above its 100-day simple moving average indicating it is potentially overbought and may be due for a price correction. This position is further backed by the token’s RSI which is well in the overbought zone.

Generally, SUI is one of the best-performing coins of 2024 with an overall price gain of 182.5% since the start of the year. However, it has been a bipolar market experience for the layer-1 asset which lost about 71.5% of its value between April and August.

Current market sentiments around the altcoin are largely bullish with investors confident of long-term profitability. Interestingly, SUI has been tipped by analysts to emerge as the diamond of the upcoming bull season with the potential to replicate Solana’s performance in 2021. If this projection proves true, it could rise as high as $70 over the next 12-18 months.

Open Interest Reaches $664 Million

In tandem with the recent price growth, the Open Interest on SUI has grown by 27.10% in the last 24 hours reaching around $664.29 million. For context, Open Interest measures the value of all active trading positions either long or short in the market. Interestingly, the daily long/short ratio currently stands at 1.0665, indicating traders are slightly more confident of SUI experiencing a price gain in the future.

At the time of writing, SUI trades at $2.22 reflecting a 9.62% gain in the last day. Meanwhile, the token’s daily trading volume is up by 12.55% and is valued at 1.12 billion.

스포츠 토토 사이트；스포츠 사이트；스포츠 토토

Godspower Owie — Wed, 09 Oct 2024 18:30:37 +0000

SUI is experiencing a notable pullback after its recent rally, with multiple key support levels coming into focus. As the price edges lower, these areas will play a pivotal role in determining whether the asset can regain its bullish momentum. A strong defense of these supports could signal the start of a fresh upward move, while a failure to hold may lead to deeper declines.

This article aims to assess SUI’s recent price pullback and explore critical support levels that could trigger a potential bullish reversal. By analyzing technical indicators and market conditions, it seeks to provide insights into possible recovery scenarios, highlighting the levels to watch for a sustained upward movement or further downside risk.

Recent Price Action: SUI’s Decline Explained

Recently, SUI’s price has taken a bearish turn on the 4-hour chart, following a rejection at the $2.1 resistance level. Despite this decline, the cryptocurrency remains above the 100-day Simple Moving Average (SMA), indicating that a recovery may be possible, provided buyers regain control and the market shifts back in favor of the bulls.

An analysis of the 4-hour Relative Strength Index (RSI) suggests that bulls could be preparing for a resurgence. Although the RSI has slipped to 55% from the overbought zone, it remains above the crucial 50% mark, indicating that bullish momentum persists. This positioning reflects a temporary slowdown, but as long as the RSI holds above this threshold, the market retains the potential for renewed upward movement.

Also, on the daily chart, SUI is exhibiting signs of negative pressure, trading above the 100-day SMA. While the price remains above the SMA, this current bearish movement could be short-lived, as there remains a possibility for a price recovery. The positioning above the SMA implies that buyers could step in to reverse the trend if they regain control, potentially leading to a rebound in price. Finally, on the 1-day chart, a closer examination of the RSI formation indicates that SUI’s price may experience further declines, as the signal line has descended to 69% from the overbought territory. However, there is the possibility of a bullish comeback if the RSI can maintain its position above the 50% threshold.

Key Support Levels: Where Could SUI Buyers Step In?

SUI is approaching critical support levels that could attract buyers and trigger a recovery. The initial key level to monitor is the $1.4 support zone, which could serve as a critical point for renewed bullish interest.

Should buyers step in at this level, SUI might rebound toward the $2.1 resistance mark. A successful breakout above this resistance could pave the way for the formation of a new all-time high, signaling a strong resurgence.

However, if the $1.4 support level fails, the next critical area to watch is around the $1.1 mark, where a stronger base of support could form as the price continues to decline. Maintaining these levels is crucial since it will determine whether SUI can regain upward momentum or remain vulnerable to more bearish pressure.

카지노；카지노사이트 온라인카지노 바카라；카지노사이트킴

Sebastian Villafuerte — Sat, 05 Oct 2024 14:30:47 +0000

SUI is currently testing a crucial supply zone following a massive 95% surge triggered by the Federal Reserve’s recent interest rate cut announcement. The explosive rally, driven by significant buying pressure, has led to volatile price action, raising questions about whether this upward momentum can be sustained. As SUI hovers near its current highs, market speculation is increasing around the possibility of a correction to lower demand levels, with $1.40 being the key target. Key data from Coinglass reveals a decline in market demand, signaling a potential slowdown in buying activity. This has left some investors on edge, as they anticipate a price drop in the coming days. The sudden surge has fueled both optimism and caution as traders weigh the potential for continued gains against the risk of a sharp reversal. With SUI now at a critical juncture, the next few days will be pivotal in determining whether the bullish trend can continue or if the market will retrace to more stable demand levels. Investors are watching closely, ready to adjust their strategies based on the unfolding price action.

SUI Funding Rate Signals Price Drop

SUI is at a critical point after days of extreme price action and significant gains. Following its impressive 95% rally since the Federal Reserve’s interest rate cut announcement, some investors and traders are beginning to take profits, signaling a potential shift in market sentiment. Many now view a correction to $1.40 as inevitable, especially as buying pressure cools down.

Key data from Coinglass suggests a cooling demand, with the funding rate turning negative to -0.067, marking a yearly low. The funding rate is a key indicator in futures trading, representing the periodic payment between traders in long positions (betting on price increases) and those in short positions (betting on price declines).

When an asset’s funding rate turns negative, it indicates that more traders are opening short positions, expecting a drop in price. This shift reflects growing caution in the market as traders start positioning themselves for a potential downturn. With the funding rate at such a low and demand waning, the market is showing signs of cooling off after SUI’s explosive September rally. As a result, investors and traders are now patiently waiting for a correction to lower demand levels around $1.40, which could present new buying opportunities or signal further declines depending on the broader market conditions.

Key Levels To Watch

SUI is currently trading at $1.73 after experiencing days of volatile price action. The price surged but halted at the crucial $2 resistance level and has since entered a consolidation phase just below it. This key level has become a barrier for bulls, and a push above $2 is necessary for SUI to regain momentum and confirm a bullish trend. However, the market remains uncertain, and if the price fails to hold the $1.60 support level, a deeper correction could follow. Analysts predict that a break below $1.60 may lead to a 20% drop, bringing SUI down to the $1.40 demand zone. This level is being closely monitored by investors and traders as a critical support to prevent further downside pressure. As the market fluctuates, SUI’s price action remains in a delicate balance between potential recovery and further correction. The next moves around these key levels will likely determine whether bulls regain control or if bears continue to push prices lower in the coming days.

Featured image from Dall-E, chart from TradingView

피카지노 【보증업체】 가입코드 이벤트 쿠폰；온라인바카라

Sebastian Villafuerte — Wed, 02 Oct 2024 20:30:41 +0000

SUI has experienced an impressive surge of over 160% since the start of September, with its price now hovering around $2. This remarkable rally has analysts and investors highly optimistic about the future of the layer-1 blockchain. Beyond its soaring price, SUI is showing strong growth across key metrics, signaling increasing adoption and usage. According to data from DefiLlama, SUI’s total value locked (TVL) has reached new all-time highs, indicating a robust demand for its decentralized finance (DeFi) ecosystem. The rising TVL highlights a growing interest from users and developers, further boosting confidence in SUI’s long-term potential. The price surge is not just driven by market sentiment but is backed by tangible growth in the platform’s fundamentals. With both TVL and user engagement increasing, the positive outlook for SUI continues to build. Investors are now eyeing higher price targets as they anticipate further growth for the layer-1 blockchain in the coming weeks.

As SUI pushes to higher levels, its performance reflects both strong market support and underlying network growth, making it one of the most talked-about projects in the crypto space.

SUI TVL Signals Ongoing Rally

SUI is currently testing a crucial supply level around the $2 mark, a psychological barrier that, once surpassed, could pave the way for a surge to new highs.

Analysts are watching this level closely, as breaking through it would likely trigger a strong bullish move. On-chain data from DefiLlama supports this optimism, revealing that SUI’s total value locked (TVL) has reached an all-time high of $1.07 billion. This marks a remarkable 65% increase in TVL over the past 30 days, signaling growing confidence in the platform’s utility and long-term potential.

The rise in TVL is a net positive for the SUI coin, as it reflects the increasing adoption of the Sui ecosystem. As more value flows into the network, the demand for SUI tokens will likely grow, creating upward pressure on its price. Investors often view rising TVL as a bullish signal, suggesting that the platform is gaining traction and trust among users. If these positive trends in TVL and overall network activity continue, a rise above SUI’s previous all-time high of $2.16 seems likely in the coming weeks. With momentum building, many expect SUI to achieve further gains, reinforcing its position as a leading layer-1 blockchain.

Price Action: Liquidity Levels To Watch

SUI is currently trading at $1.89, just 15% away from its all-time high of $2.18. The recent price action has been promising, with an 8% surge in the past hours. Many analysts believe that if SUI can break above the critical $2 level, the chances of reaching new all-time highs are very high. This psychological barrier could trigger a wave of buying pressure, pushing the price to new levels. However, some investors are cautious, expecting a healthy correction before further upward movement. If SUI fails to break past the $2 mark, a retracement to support levels around $1.60, or even down to $1.45, would not be unexpected. Such a correction could provide a solid foundation for the next bullish leg, allowing SUI to gather momentum before attempting to breach the $2 resistance again. Despite this, the overall sentiment remains optimistic, with many investors holding out for a new all-time high shortly. SUI’s recent performance and market dynamics suggest that the coming days will be crucial for determining its next move.

Featured image from Dall-E, chart from TradingView

네임드카지노 【보증업체】 가입코드 이벤트 쿠폰

Sebastian Villafuerte — Sun, 29 Sep 2024 16:30:56 +0000

SUI is currently testing crucial supply levels after an impressive 75% surge from local demand around $1 since mid-September. This aggressive price movement has placed the layer-1 blockchain at the forefront of market discussions, making it one of the most trending assets right now. Traders and investors are showing increased interest in SUI, with many speculating that this rally could be the beginning of even bigger gains in the coming months. The buzz around SUI has been amplified by its strong price action, and bullish sentiment is growing.

Analysts are closely watching the price action, with some predicting that SUI could target significantly higher levels, potentially challenging its all-time highs around $2.20 in the near future. Such a move would solidify SUI’s position as a top-performing asset in the crypto market and could attract even more capital as the market looks for the next big opportunity.

As SUI continues to gain traction, all eyes are on its ability to sustain this momentum and break through key resistance levels, setting the stage for a potential rally to new highs. With optimism building, SUI is one to watch as the market anticipates its next move.

SUI Bullish Pattern ‘Still Playing Out�?/h2> SUI has emerged as one of the top-performing assets over the past two weeks, fueled by optimism following the Federal Reserve’s interest rate cuts announcement. Analysts and investors are eagerly watching the altcoin, hoping that the recent surge isn’t just a bull trap but the beginning of a massive rally poised to explode.
Renowned crypto trader and analyst, Kong Trading, recently shared his technical analysis on X, highlighting the potential for a significant SUI surge in the coming months. He noted that the inverted head and shoulders pattern formed in the past months is still playing out nicely and could be a powerful signal for further gains.
According to his analysis, the key level to watch is $2. If SUI manages to break past this resistance, it could trigger a wave of FOMO (fear of missing out) among traders, propelling the price to unprecedented heights. However, Kong Trading also cautioned that SUI’s bullish momentum depends heavily on broader market conditions and macroeconomic trends. While the current setup is promising, the asset remains vulnerable to sudden shifts in sentiment or adverse market developments. As SUI approaches its all-time highs, the coming weeks will be crucial in determining whether it can sustain its upward trajectory or if it will face a potential pullback. For now, all eyes are on SUI as it navigates these critical price levels, with traders hoping to see a breakout that could redefine its market position.

Key Levels To Watch

SUI is currently trading at $1.67 after an impressive 140% rally from its early September lows of $0.75. This significant price movement has brought SUI to a crucial supply zone, where the price could face resistance and potentially enter a consolidation phase. Analysts and traders are closely watching this level, as breaking above it could set the stage for further gains. If SUI manages to break past the $1.82 resistance, it would open the door for a rally toward its all-time high of $2.18. This level will be a major target for bulls, as reclaiming it could signal the continuation of a broader uptrend and attract more buyers into the market. However, a failure to break above $1.80 could see the price retracing to lower demand levels around $1.45, which served as a key resistance back in April. This $1.45 zone is now expected to act as strong support, offering a potential buy opportunity for traders looking to enter the market at a lower price. For now, SUI remains in a critical zone, and its next move will likely determine whether the current rally can extend toward new highs or if a consolidation phase is ahead.

Featured image from Dall-E, chart from TradingView

정보창고；페이지 373；바카라사이트,카지노사이트,온라인카지노사이트

Godspower Owie — Wed, 25 Sep 2024 16:00:39 +0000

SUI is on the brink of a key moment as it prepares to retest the $1.45 level following a successful breakout. The recent surge has positioned the cryptocurrency for a crucial test, where the bulls must step in to defend this newfound support. With the breakout still fresh and momentum hanging in the balance, the battle between bulls and bears continues to intensify. Can the bulls maintain control and solidify $1.45 as a foundation for further gains, or will selling pressure push SUI back into retreat?

The aim of this analysis is to assess SUI’s potential as it approaches the critical retest of the $1.45 level after a strong breakout. We’ll explore the key technical signals, market sentiment, and the strength of bullish sentiment to determine whether the bulls can successfully defend this support.

Technical Analysis: Key Indicators Point To $1.45 Retest

Despite SUI’s price trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart, the cryptocurrency is undergoing a noticeable pullback, aiming to retest the $1.45 level. This suggests that the recent bullish strength may be slowing down as traders reassess key support and resistance zones.

An analysis of the 4-hour Relative Strength Index (RSI) shows a potential price decline toward $1.45 as the RSI line is dropping from the overbought zone toward the 50% threshold, indicating that SUI’s upbeat momentum may be losing strength. Also, on the daily chart, SUI is showing bearish momentum as it attempts to retest the $1.45 mark. There have not been any notable declines in the price since it broke above the 100-day SMA, which implies that a correction might be approaching.

Finally, on the 1-day chart, a closer analysis of the RSI signal line reveals a drop to 72% after previously peaking above 77%. This decline from overbought levels indicates that bullish momentum is waning, potentially signaling the beginning of a price consolidation or correction.

The Road Ahead: What A Successful Retest Could Mean For SUI

A successful retest of the $1.45 support level could mark a pivotal moment for SUI, potentially setting the stage for further upward movement. If the bulls manage to defend this key level, SUI may aim for higher resistance points, with targets like $2.18 and beyond coming into focus.

However, should SUI fail to hold the $1.45 support level, it could trigger a deeper correction toward the next key support at $1.22. A breach of this level might signal a shift in the trend, possibly accelerating additional downside moves and completing a bearish reversal.

At the time of writing, SUI was trading at approximately $1.74, marking a 13.14% increase over the past 24 hours. The cryptocurrency’s market capitalization was around $4.6 billion, with trading volume exceeding $1 billion, reflecting increases of 13.14% and 70.81%, respectively.

더킹플러스카지노 공식주소；우리카지노 메리트 리뉴얼 오픈

Sebastian Villafuerte — Tue, 24 Sep 2024 18:30:49 +0000

SUI has recently emerged as one of the top-performing altcoins, posting an impressive 120% surge since early September. This rapid price increase has captured the attention of both investors and analysts, as data from DefiLlama reveals that SUI’s Total Value Locked (TVL) is approaching the $1 billion mark. The rising TVL has fueled speculation that SUI could be on the brink of reaching a new all-time high, with many pointing to its growing ecosystem and increasing adoption as key factors driving its momentum. Currently, SUI is testing a critical resistance level, which, if broken, could trigger a surge in price that may challenge its all-time high of $2.18. As market conditions continue to evolve and interest in decentralized finance grows, many are watching SUI closely for its potential to lead the next altcoin rally. Should the resistance hold, the price may consolidate before making a stronger push higher. However, if bulls breakthrough, it could set the stage for a significant upward movement, positioning SUI as a standout performer in the crypto space.

SUI Rising TVL Suggests Growing Demand

SUI has ignited a wave of optimism among investors and traders who view the Layer-1 blockchain as poised to become one of the biggest winners in the ongoing bull run. Key metrics and insights from analysts reveal a growing interest in SUI, driven not only by retail investors but also by institutions pushing its price higher.

On August 5, during a broader market crash, SUI’s Total Value Locked (TVL) plummeted to $342 million. However, since then, the blockchain has staged an impressive recovery, with its TVL surging nearly threefold to $885 million, according to data from DeFiLlama.

TVL is a critical metric that reflects the total dollar value of assets staked or locked within a protocol. A decrease in TVL indicates liquidity is being withdrawn, while an increase, such as SUI’s 40% rise over the past 30 days, signals growing trust in the project and a healthier ecosystem. This sharp increase in TVL is a positive sign, suggesting that SUI’s network is attracting more liquidity and usage. Currently, the price of SUI is just 40% below its all-time high, creating an ideal setup for bulls who believe this project is poised for explosive growth. Many anticipate that SUI could be one of the breakout stars of this cycle, as its ecosystem continues to expand and investor confidence strengthens.

Technical Levels To Watch

SUI is now trading at $1.55 after a massive 60% rally since last Tuesday, showing strong momentum in the market. The price has increased with increasing volume, consolidating just below a key supply level—a sign of strength and confirmation of a bullish trend. Bulls must keep SUI above $1.40 to sustain momentum. Once a supply zone, this level may now act as a new demand zone. Consolidating above $1.40 could drive the price to higher levels, specifically toward $1.71. Reclaiming $1.71, a crucial supply zone, would position SUI to challenge its all-time high. Breaking through this level would set the stage for further price appreciation and possibly a new ATH. A deeper correction is possible if SUI loses its current price levels. Lower demand zones around $1.25 or even $1.17 might provide support. This would slow the rally, but the overall bullish outlook remains intact if the price stays within these key levels.

Featured image from Dall-E, chart from TradingView

암호화폐카지노 최신 정보；코인카지노 추천 TOP10

Godspower Owie — Mon, 23 Sep 2024 11:00:10 +0000

SUI impressive bullish momentum appears to be losing steam as technical indicators point toward a potential cooldown, with the Relative Strength Index (RSI) signaling overbought conditions, raising concerns about the sustainability of the recent rally.

The $1.4 level is now in focus, as this cooling strength suggests that a pullback could be on the cards, offering a critical moment for SUI as it navigates through growing market pressure. Will the bulls hold their ground, or is a correction set to unfold?

This article aims to analyze SUI’s recent price action in light of technical indicators, particularly the RSI, which suggests a potential cooling of momentum. By examining the implications of overbought conditions and the likelihood of a retest at the $1.4 level, this analysis seeks to provide insight into whether SUI’s bullish trend will continue or if a correction is on the horizon.

Technical Indicators Point To Cooling Momentum: A Turning Point For SUI?

Despite SUI’s price trading above the 100-day Simple Moving Average (SMA) on the 4-hour chart, the cryptocurrency is undergoing a noticeable pullback, aiming to retest the $1.4 level. This suggests that the recent bullish pressure may be slowing as traders reassess key support and resistance zones.

An analysis of the 4-hour Relative Strength Index suggests a potential price drop toward $1.4 as the RSI line is dropping from the overbought zone toward the 50% threshold, indicating that SUI’s bullish momentum may be losing strength.

Also, on the daily chart, SUI is showing bearish sentiment as it attempts to retest the $1.4 mark. Since breaking above the 100-day SMA, the price has experienced a consistent upward trend without any significant pullbacks, indicating that a noticeable correction may be on the horizon.

Finally, on the 1-day chart, a detailed analysis of the RSI signal line indicates that it has surpassed the 50% threshold and is currently at an impressive 82%. This high reading raises concerns about potential overbought conditions, which could trigger a market correction or pullback.

$1.4 Retest Looms: What Traders Should Watch For Next

As SUI approaches the critical $1.4 level, traders should be vigilant, as a breach below this point could indicate a potential move toward the $1.16 support level. If the price breaks below $1.16, it may signal a further decline toward the $0.8690 level and beyond.

However, if SUI experiences a strong rebound at the $1.4 level, the price may start to rise again toward its all-time high of $2.18. A breakout above this level could indicate a continuation of the upward trend, possibly paving the way for a new all-time high.

At the time of writing, SUI was trading at approximately $1.55, marking a 5.99% increase over the past 24 hours. The cryptocurrency’s market capitalization was around $4.1 billion, with trading volume exceeding $964 million, reflecting increases of 5.64% and 151.91%, respectively.

바카라 용어；온라인바카라

Opeyemi Sule — Sat, 21 Sep 2024 18:00:49 +0000

The interest rate cut by the US Federal Reserve has been one of the biggest stories in the crypto space this week, with most large-cap assets making something of a recovery in the past few days. As a result, Sui (SUI) is one asset whose price performance has largely gone under the radar in the last seven days.

SUI Price Overview

As of this writing, the price of SUI stands at $1.50, reflecting a more than 7.5% increase in the past 24 hours. This impressive single-day performance highlights the bullish momentum that the token has been enjoying over the past few weeks.

The Sui token ranks amongst some of the best performers in the top 100 largest cryptocurrencies by market capitalization in the last seven-day period. According to data from CoinGecko, the altcoin is up by nearly 45% in the past week.

Interestingly, price action data shows that SUI’s hot streak is even more impressive on broader timeframes. Having started September consolidating around the $0.8 region, the token didn’t breach the $1 mark until about two weeks into the month. However, SUI didn’t take as much time to cross the $1.5 level, another major price landmark. Much of this positive performance can be attributed to the recent attention and adoption of the Sui blockchain in recent weeks.

On September 17, Sui network revealed �?in a post on the X platform �?a notable partnership with Circle. The stablecoin providing is expanding USDC issuance to the layer 1 blockchain. This development is expected to boost liquidity and attract more users to the Sui network.

Is $1.80 The Next Stop?

As of now, the SUI token seems to be hovering around the psychological $1.5 region �?which doubles as a major resistance zone. However, a convincing break above this level could mean a journey up to $1.80, where the next resistance level lies.

In the case that the break above $1.5 is a fake out, the SUI token could fall to the next support level at $1.0125. It is worth noting that the relative strength index (RSI) indicator, which measures the momentum of a trend, is currently in the overbought region. When the RSI value is above 70, it implies that the token’s price may be gearing for a correction or even a trend reversal. This observation suggests that investors might want to tread with caution, as the SUI token may just be overvalued at the moment.

Nevertheless, the rising open interest has continued to fan the flames of bullish sentiment for SUI. According to data from Coinglass, the token’s open interest stands at around $383 million, reflecting an almost 9% increase in the past day.