CandleFocus SUI up over 10%, analyst eyes $6 if this happens
2024-10-30
Author: Content Editor
The cryptocurrency SUI has experienced a recovery in the past 24 hours, increasing by over 10% and reaching a price of $2.08. This rebound follows a four-day downtrend and has resulted in a market cap of $5.7 million. The rally was largely driven by the launch of an NFT collectibles platform called MLS Quest on SUI, in partnership with Sweet. The platform allows Major League Soccer fans to collect digital medallions based on highlights from league matches and earn rewards. As a result of the MLS partnership, net inflows into SUI have surged and its trading volume has increased significantly. Open interest in the SUI futures market has also risen, suggesting heightened trader activity. However, technical indicators suggest that SUI may experience some sideways movement in the short term. Despite this, an analyst predicts that SUI could reach as high as $6.9 in the coming months.
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