$SUI is gaining momentum, currently trading at $2.1096 with a 1.94% rise, and a recent push to $2.122, up 2.85%. The bullish trend is fueled by increasing buying pressure and higher trading volumes. With the RSI at 64.21, the trend is leaning neutral to bullish, and the MACD has just confirmed a bullish crossover. SUI is trading above its 50-day and 200-day moving averages.
Key levels to watch include resistance at $2.30 and support around $1.90. The exciting part? SUI has the potential to hit a new target of $2.50, signaling a fresh all-time high.
Market sentiment is strongly positive, with increasing trading volumes backing the momentum. Price action suggests SUI could break through the $2.30 level, potentially driving it toward that new high.
For traders considering a position, going long above $2.10 with a stop-loss below $1.90 could be a strategy, with a target around the $2.50 mark.
On-chain data also supports the bullish outlook, with an uptick in wallet addresses and transaction volumes. Additionally, SUI's ecosystem expansion and growing adoption are key factors contributing to its rise.
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