CandleFocus

Here Is What SUI Price Needs to Reach $4 for The First Time

Author: Content Editor
The price of SUI cryptocurrency has shown mixed signals after a significant rise, currently sitting just 6.5% below its all-time high. The surge in price over the past 30 days has been supported by growth in its DeFi ecosystem, with the total value locked reaching $1.75 billion. The strong EMA alignment and sustained TVL levels above $1.4 billion indicate strength in the market structure. However, technical indicators like BBTrend suggest caution in the short term. The dramatic increase in TVL suggests strong investor confidence and growing adoption of the SUI ecosystem. The sustained high TVL could lead to continued upward momentum in price. The BBTrend indicator has turned negative, indicating increased selling pressure. This could lead to a short-term price correction. However, the current EMA configuration suggests that bulls still maintain control of the market. The price has potential for significant upside, with targets at the previous all-time high and a psychological resistance level. Support levels need to be maintained to sustain the uptrend, as breaking below them could accelerate selling pressure.

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