SUI Shows Strong Bullish Comeback: Breakout Above $4.98 In Sight

Name	Symbol	Market	Market Cap ($)	Algorithm
SUI Network	SUIUSD	Crypto	12,354,370,936	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

SUI Network

SUIUSD

Crypto

12,354,370,936

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.110	2.53%	4.46	4.46	4.46

Price Change

Price Change %

Current Price

Bid Price

Offer

0.110

2.53%

4.46

High Price	Low Price	Open Price	Prev. Close	52 Week Range
4.56	4.31	4.32	4.35	0.462300 - 4.97

High Price

Low Price

Open Price

Prev. Close

52 Week Range

4.56

4.31

4.32

4.35

0.462300 - 4.97

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	07:05:32	0.300000	4.46	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

07:05:32

0.300000

4.46

USD

Price x Volume	Volume	Base Symbol	Related Pairs
41,981,898.49	9,478,846.86	SUI	SUIEUR	SUIGBP	SUIBTC

Price x Volume

Volume

Base Symbol

Related Pairs

41,981,898.49

9,478,846.86

SUI Shows Strong Bullish Comeback: Breakout Above $4.98 In Sight

22/12/2024 12:00am

NEWSBTC

SUI has shown a remarkable bullish comeback, overcoming earlier setbacks with impressive strength. The cryptocurrency has steadily gained ground, attracting attention. As the price approaches the critical $4.98 resistance, the potential for a breakout looms. A successful move above this level could trigger a new phase of bullish momentum, setting the stage for the token to achieve new highs. Specifically, the $4.98 has been a key barrier in recent trading, and breaking through it would be a significant achievement for SUI. With strong market sentiment building, a breakthrough may inspire more buying pressure, pushing the price even higher. As the asset moves close to this crucial level, the possibility of new record highs becomes increasingly likely, making SUI one of the critical cryptocurrencies to watch in the coming days. SUI Bulls Take Charge Toward $4.98 Threshold SUI is currently demonstrating impressive bullish momentum as its price steadily climbs toward the critical $4.98 resistance level. This price action signals a strong comeback for the token, with bulls steadily regaining control after previous bearish pressure. The $4.98 threshold has emerged as a key point of interest since it represents a potential breakout zone that could drive the price higher toward new highs. Related Reading: SUI The Rising Star: Analyst Foresees Over $25 Breakthrough A successful breach above the $4.98 level would confirm the continuation of the positive trend and attract additional buying interest. This could lead to a shift in market sentiment, with buyers asserting dominance and possibly pushing the price toward the next resistance levels. A Break Above $4.98 Could Signal More Upside SUI’s price has successfully risen above the 100-day Simple Moving Average (SMA), a significant technical milestone that signals a shift in market sentiment. Significantly, this rise above the 100-day SMA indicates that the token may be entering a new bullish phase, as the price action is now trading above a key moving average that has historically acted as support or resistance. It reflects a growing market optimism and signs of stability, raising the potential for a continued upward trend. Also, the Relative Strength Index (RSI) confirms strong upbeat strength for SUI, rising above the 50% threshold to 59%. This suggests that buying pressure is outpacing selling, signaling a shift in the market and a reversal of the recent downtrend. With the RSI in a neutral-to-bullish zone, there is room for further upside if the momentum continues, supporting the case for continued price gains and a break above $4.98. Related Reading: SUI Hits New ATH, Can Bullish Momentum Lead Price To $5 This Weekend? In conclusion, if SUI’s price breaks above the $4.98 level, it could lead to the formation of new highs, implying a strong continuation of the uptrend. However, failure to breach this resistance may result in a consolidation phase or a pullback, suggesting that sellers could still have control over the market and limiting upside potential. Featured image from Shutterstock, chart from Tradingview.com

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SUIUSD SUI Network