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The SUI/USDT market has seen an additional price increase of 4.00% in today’s trading activity. Technical indicators suggest that the bulls are ready to extend their bullish momentum as they break through yet another technical resistance level. Let’s examine this market in more detail below.
Sui Statistics:
SUI Price: $1.8759
SUI Market Cap: $5,305,964,669
Circulating Supply of SUI: 10,000,000,000
SUI Total Supply: 10 billion
SUI CoinMarketCap Rank: 20
Sui Price Advances Towards Another Technical Resistance
Price activity in the SUI/USDT daily market has had a short period of consolidation, briefly within the $1.600–$1.800 range. At this point, upward forces seem to have gained significant momentum given the price increase seen in the ongoing session.
The most recent price candle has broken through a new technical resistance level. Meanwhile, the Stochastic Relative Strength Index (Stochastic RSI) lines are still trending downward due to the bearish activity in the previous session. However, the market is maintaining an upward trajectory for the time being.
SUI/USDT Market Maintains a Steady Upward Trend
Price action on Sui’s 4-hour chart shows the market staying on an upward path for the third consecutive session. This indicates that the market may be reacting less to the price movements in the Bitcoin market.
The Stochastic RSI lines have also shown a sharp upward crossover below the 50-mark of the indicator, aligning with the bullish price action. This suggests that bullish crypto signals may still apply, and the market may cross the $2.00 threshold soon.
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