Sui Network (SUI) – Update on April 23, 2025
Current Price: $2.91
Market Capitalization: ~$9.51 billion USD
24h Trading Volume: ~$2.34 billion USD
Circulating Supply: ~3.25 billion SUI
Maximum Supply: 10 billion SUI
All-Time High: $5.35 (January 6, 2025)
📊 Technical Analysis
RSI (14): 70.12 – Near the overbought zone, indicating strong upward momentum but caution is needed for potential corrections.
MACD (12,26): 0.25 – Strong buy signal, with a clear bullish trend.
Stochastic (9,6): 85.67 – Overbought zone, warning of a potential short-term correction.
ADX (14): 45.23 – Strong trend, confirming the current upward movement.
CCI (14): 120.56 – Buy signal, indicating strong bullish momentum.
📈 Trend Outlook
SUI is in a strong uptrend, surpassing the $2.90 mark for the first time since its listing. This increase is supported by positive market sentiment and fresh capital inflows into the cryptocurrency market. However, technical indicators such as RSI and Stochastic suggest that SUI is in the overbought zone, which could lead to a short-term correction.
🎯 Recommended Strategy
Short-term: Investors should be cautious due to the potential for a price correction as SUI is in the overbought zone. It is advisable to wait for confirmation signals before opening new positions.
Long-term: The upward trend remains intact, with technical indicators supporting further gains. Long-term investors may consider gradually accumulating SUI, especially if prices pull back to strong support levels.