The price of SUI has seen a 4% increase in the last 24 hours, but it is still down 30% over the past month. The technical indicators, including the Ichimoku Cloud and EMA lines, suggest strong resistance ahead, indicating a bearish setup. Despite this, SUI has shown impressive trading activity, ranking as the sixth-largest blockchain by daily volume, ahead of well-established networks like Avalanche and Polygon. Its daily volume reached $615 million, indicating growing interest from traders and investors. While SUI's ecosystem is not as developed as older networks, the strong trading activity could attract more projects and accelerate its adoption. The Ichimoku Cloud chart shows that the broader trend for SUI is bearish, with strong resistance overhead. The EMA lines also indicate a bearish trend, although there has been some short-term bullish momentum. If the bullish momentum continues, SUI could test $3.94 and potentially reach higher levels in the coming weeks. However, the overall sentiment for SUI remains cautious, and a drop below support at $3.35 could lead to further decline. The market is currently in a cautious phase with upside and downside possibilities.



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