Sui Price Prediction for Today, August 12 – SUI Technical Analysis

Sui (SUI), the native coin of the Layer-1 blockchain Sui Community, has witnessed a formidable 120% worth rally over the previous week. At press time, it’s exchanging fingers at roughly $0.98. The cryptocurrency is now buying and selling at its highest worth over the previous 30 days and exhibits potential for additional features. This surge has positioned it as a pacesetter among the many prime 50 cryptocurrencies by market capitalization.

SUI Key Statistics:

• Present Value: $0.98
• Market Cap: $2.70 billion
• Buying and selling Quantity (24h): $768 million
• Circulating Provide: 2.59 billion SUI
• Whole Provide: 10 billion SUI
• CoinMarketCap Rating: #30

The market’s enthusiastic response to latest endorsements and technical upgrades has been evident in Sui’s buying and selling quantity, which has escalated dramatically. This inflow of buying and selling exercise is supported by a strong enhance in market capitalization, reflecting rising investor’s confidence within the cryptocurrency.

SUI/USD Market

Key Ranges:

Resistance Ranges: $1.10, $1.15, $1.20

Assist Ranges: $0.95, $0.90, $0.85

The SUI/USD pair exhibits a big bullish breakout, with the value not too long ago surpassing the higher Bollinger Band at $1.06. This means robust shopping for stress and potential overbought circumstances, highlighting heightened market confidence doubtless spurred by latest optimistic developments across the token.

The Transferring Common Convergence Divergence (MACD) helps the bullish development with its line properly above the sign line and an increasing divergence, suggesting continued upward momentum for the coin. A rise in buying and selling quantity confirms the energy of the bullish development, signaling sturdy market help.

Can Sui Maintain Its Bullish Momentum Regardless of Potential Overbought Situations?

The present worth rally underscores robust bullish momentum within the cryptocurrency, particularly given the coin’s latest performances. The instant focus is on breaching the $1.10 resistance degree. If it efficiently breaks by way of this degree, it may goal larger resistance ranges at $1.15 and $1.20. These targets point out additional upside potential, pushed by market enthusiasm and elevated investor curiosity within the cryptocurrency.

$2.00 SUI SOON?

Nonetheless, given the fast worth enhance and potential overbought circumstances, there’s a risk of a short-term pullback. The value may retest help ranges at $0.95, $0.90, and even $0.85, offering alternatives for brand spanking new patrons to enter the market at decrease costs.

SUI/BTC Efficiency Insights

The SUI/BTC pair has proven notable efficiency, appreciating considerably towards BTC. Presently, it’s buying and selling round 0.00001782 BTC, marking a considerable upward development for Sui. This latest acquire displays a ten.3% enhance over the past 24 hours, showcasing sturdy bullish habits available in the market.

The chart reveals that the value of Sui has damaged by way of some earlier resistance ranges and is presently testing the higher Bollinger Band, indicating robust upward momentum and potential overbought circumstances. If Sui maintains its place above the higher Bollinger Band, it may sign continued bullish intent, doubtlessly focusing on the following resistance ranges at 0.00001830 BTC and 0.00001850 BTC.

The Transferring Common Convergence Divergence (MACD) for the SUI/BTC chart can be reinforcing the bullish outlook, because it stays properly above the sign line. This optimistic divergence suggests sustained bullish momentum, making a robust case for additional upside potential.  If it will possibly maintain its present momentum and maintain above the latest breakout degree, the bullish development could proceed, doubtlessly testing larger resistance factors.

In a tweet, @degen_maverick attributes the rise to elements together with Grayscale’s SUI Belief, which holds over $60 billion.

$SUI is exhibiting unimaginable energy! This could possibly be the start of a significant transfer.

💧Grayscale’s SUI Belief: With $60B+ AUM, this can be a large bullish sign.
💧Chart Breakout: $SUI has damaged its downtrend, bouncing strongly from resting liquidity.
💧Market Restoration: The… pic.twitter.com/NHtk3KOq1Q

— Maverick (@degen_maverick) August 12, 2024

Options to Sui

Whereas Sui has skilled vital features following latest endorsements and technical enhancements, PlayDoge ($PLAY) is one other cryptocurrency capturing appreciable consideration. PlayDoge has quickly gained traction available in the market as a result of its robust group backing and a profitable presale, elevating over $6 million. This fundraising achievement underscores the rising buyers’ curiosity within the mission and highlights its potential for substantial returns.

PlayDoge Rated Among the many High Meme Cash to Purchase Now

PlayDoge differentiates itself by way of its modern options and vibrant group, which contribute to its rising reputation. The mission has been steadily constructing momentum, and with the official launch of $PLAY on the horizon, it affords an intriguing alternative for these seeking to diversify their crypto investments. As anticipation continues to develop, PlayDoge presents a promising possibility for buyers looking for early-stage initiatives with vital development potential within the cryptocurrency house.

Go to PlayDoge

Associated Information