Key perspectives:
- The Quote of Sui (SUI) bounced from the $ 3.41 support, with targets of $ 4.28 and $ 5.14 for the upward impulse.
- Sui’s long relationship reached 1.47, with 59.57% of operators betting on the rise.
- The open interest in SUI rose 6%, and the type of financing jumped at 0.0159% for the strong demand.
The price of sui It has become one of the Altcoins with the best performance, while the cryptocurrency market in general maintains a bullish impulse. Bitcoin trades above $ 96,000, which raises the total capitalization of the cryptocurrency market at 3 billion $.
The action of the price of The sui cryptocurrency and the strength of its ecosystem have raised great interest in the market in the midst of this wave. The Altcoin now quotes at $ 3.46, with a market capitalization of $ 11,610 million, which places it as the 11th largest cryptocurrency.
The technical structure of the sui price indicates an imminent rise
Technical analysts point to a firm price structure that supports greater bullish potential. Marco Polo said the SUI quote It remains in a marked upward trend, driven by solid foundations and a favorable technical alignment.
In the daily chart, The sui cryptocurrency It has exceeded important resistance areas and is consolidating just below the level of $ 4.00.
The bullish chart presents a projected continuation that points to the range of 6.00-7.00 $, subject to a sustained rupture volume. The bullish structure of sui price It remained intact, since the price remained above the key support levels.
It continues to form higher minimums in multiple temporary frames, which reinforces its upward trend. 50 and 200 days mobile socks are below the current price, which underlines the strength of the trend.
Sui’s parallel execution, scalable intelligent contracts based on Move and the growing adoption of Defi and gambling make it a strong layer of layer 1. The presentation of ETF by 21Shares and Canary, together with the integration of Fireblocks, have further increased institutional attention.
The sui price maintains the support of 3.30 $.
In addition, AltCryptotalk highlighted the rejection of The sui cryptocurrency at 2 $ and its subsequent rise of more than 100%. The Altcoin is now consolidated between 3.41 and $ 3.83 in the 4 -hour graph.
Technical indicators support existing bullish trends in the market. The stochastic oscillator has completed a cross movement, pointing to bullish impulse.
Meanwhile, the MACD line approaches the contact with its signal line, which reinforces the bullish potential. The indicators suggest a short -term price displacement and the subsequent return to the support level of 3.83 $.
A rupture with success and an increase in volume confirmed above $ 3.83 will activate two potential objectives at $ 4.28 (Fibonacci level of 50%) and $ 5.14. The bearish support is maintained about $ 3.00, a psychological level that has acted as the basis since the end of April.
Derivative data confirm the upward feeling of operators
Ochain data show a strong long interest around Sui. According to Coinglass, the relationship between long and short positions has risen to 1.4734. The latest data reveal that 59.57% of the operators maintain long positions. This suggests a growing market optimism for the upward trend of prices.
Moreover, open interest data showed a 6.4% growth over the last 24 hours, raising its total at 1,550 million dollars. Recent interest rates for leveled long positions have shot up to 0.0159%.
These metrics serve as early signals for a possible continuation of the rally. The positive action of the price in cash and the strong volume trends reinforce the bullish impulse when they are backed by a positive action of the cash price.
Sui remains in a consolidation zone, staying stable while market forces shape their next movement. A greater participation of leveraged buyers could provide the necessary push to reach the level of $ 5.00.
This indicates a possible bullish impulse. If the bullish pattern continues with the confirmation of a break, the sui price I could climb to $ 6.
Expansion of the ecosystem and institutional support
Sui’s fundamental factors provide additional support to their market growth. MySten Labs engineers, who previously worked at the finish line, designed Sui to execute parallel operations through a system focused on objects that offers high performance.
The Move programming language, created for DIEM, allows the safe and scalable execution of intelligent contracts. The DEFI and NFT sectors of Sui have registered a growing activity, which reflects a greater commitment of the network.
Platforms such as Suifrens, Navi and Suinns improve the usefulness of Sui, promoting greater adoption. The accessibility of the block chain and the support of the ecosystem have made it a favorable candidate for early adoption in the business and retail markets.
The institutional interest in ETFs is reinforced as institutions sign documentation and collaborate in the infrastructure. The next cryptocycle shows The sui cryptocurrency as one of the main Altcoins because it demonstrates technical growth potential.
Discharge of responsibility
This article only has informative purposes and does not provide financial, investment or other advice. The author or persons mentioned in this article are not responsible for any financial loss that may occur by investing or trade. Please investigate before making any financial decision.
